Sendero Wealth Management LLC Cuts Stock Position in Plexus Corp. (NASDAQ:PLXS)

Sendero Wealth Management LLC trimmed its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 24.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,669 shares of the technology company's stock after selling 1,501 shares during the period. Sendero Wealth Management LLC's holdings in Plexus were worth $731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP raised its stake in Plexus by 573.5% during the third quarter. Quarry LP now owns 229 shares of the technology company's stock valued at $31,000 after purchasing an additional 195 shares in the last quarter. Quest Partners LLC grew its stake in shares of Plexus by 36,700.0% in the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company's stock worth $38,000 after buying an additional 367 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Plexus in the 3rd quarter worth about $51,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Plexus during the 3rd quarter valued at about $55,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Plexus by 89.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company's stock valued at $63,000 after acquiring an additional 219 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Benchmark upped their price objective on Plexus from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Monday, October 28th. KeyCorp assumed coverage on Plexus in a research report on Tuesday, October 22nd. They set a "sector weight" rating on the stock. Stifel Nicolaus raised their price target on Plexus from $136.00 to $150.00 and gave the stock a "hold" rating in a research report on Tuesday, December 10th. Needham & Company LLC boosted their price objective on shares of Plexus from $144.00 to $162.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Plexus from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Plexus presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.00.

Insider Transactions at Plexus

In other news, CFO Patrick John Jermain sold 5,045 shares of the firm's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $143.13, for a total transaction of $722,090.85. Following the transaction, the chief financial officer now owns 24,602 shares in the company, valued at approximately $3,521,284.26. This trade represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $156.39, for a total value of $234,585.00. Following the completion of the sale, the chief executive officer now owns 74,271 shares of the company's stock, valued at $11,615,241.69. The trade was a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,091 shares of company stock valued at $5,377,960. 1.76% of the stock is currently owned by company insiders.

Plexus Trading Down 1.3 %

Plexus stock traded down $2.14 during mid-day trading on Thursday, hitting $164.94. The company's stock had a trading volume of 189,995 shares, compared to its average volume of 138,829. Plexus Corp. has a one year low of $90.18 and a one year high of $170.07. The stock has a market cap of $4.47 billion, a PE ratio of 41.13 and a beta of 0.91. The company has a 50 day moving average of $161.71 and a 200-day moving average of $139.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.55 by $0.30. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $1.44 EPS. The firm's revenue was up 2.6% compared to the same quarter last year. On average, research analysts anticipate that Plexus Corp. will post 6.13 EPS for the current year.

Plexus Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.