Thrivent Financial for Lutherans Sells 295,096 Shares of Plexus Corp. (NASDAQ:PLXS)

Thrivent Financial for Lutherans reduced its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 38.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 471,933 shares of the technology company's stock after selling 295,096 shares during the quarter. Thrivent Financial for Lutherans owned 1.73% of Plexus worth $64,518,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Quest Partners LLC grew its position in Plexus by 36,700.0% during the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company's stock worth $38,000 after acquiring an additional 367 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Plexus by 89.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company's stock valued at $63,000 after buying an additional 219 shares during the last quarter. Innealta Capital LLC purchased a new stake in Plexus during the 2nd quarter valued at $51,000. GAMMA Investing LLC grew its holdings in Plexus by 190.1% in the 3rd quarter. GAMMA Investing LLC now owns 760 shares of the technology company's stock worth $104,000 after acquiring an additional 498 shares during the last quarter. Finally, EntryPoint Capital LLC increased its position in shares of Plexus by 56.2% in the first quarter. EntryPoint Capital LLC now owns 976 shares of the technology company's stock valued at $93,000 after acquiring an additional 351 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

PLXS has been the topic of several recent analyst reports. Needham & Company LLC raised their target price on Plexus from $144.00 to $162.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. KeyCorp started coverage on Plexus in a research note on Tuesday, October 22nd. They set a "sector weight" rating on the stock. StockNews.com upgraded shares of Plexus from a "hold" rating to a "buy" rating in a report on Monday. Finally, Benchmark upped their price objective on shares of Plexus from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $133.50.

Insiders Place Their Bets

In other news, insider Michael J. Running sold 579 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $153.93, for a total transaction of $89,125.47. Following the completion of the sale, the insider now owns 1,569 shares of the company's stock, valued at $241,516.17. This represents a 26.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Oliver K. Mihm sold 5,691 shares of Plexus stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total transaction of $950,738.46. Following the transaction, the chief operating officer now owns 19,585 shares in the company, valued at $3,271,870.10. This represents a 22.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,552 shares of company stock valued at $5,250,872. Company insiders own 2.39% of the company's stock.

Plexus Trading Up 0.5 %

Shares of NASDAQ PLXS traded up $0.73 during midday trading on Tuesday, hitting $156.94. 131,400 shares of the company traded hands, compared to its average volume of 132,295. Plexus Corp. has a 12-month low of $90.18 and a 12-month high of $169.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51. The stock has a 50-day moving average price of $140.17 and a 200 day moving average price of $122.81. The firm has a market cap of $4.27 billion, a P/E ratio of 38.96 and a beta of 0.87.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $1.44 earnings per share. Plexus's quarterly revenue was up 2.6% on a year-over-year basis. As a group, analysts expect that Plexus Corp. will post 6.13 earnings per share for the current year.

About Plexus

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.