Plexus Corp. (NASDAQ:PLXS) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 14.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 170,933 shares of the technology company’s stock after selling 29,253 shares during the quarter. Victory Capital Management Inc.’s holdings in Plexus were worth $26,748,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quarry LP grew its position in shares of Plexus by 573.5% during the third quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after buying an additional 195 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Plexus during the fourth quarter worth approximately $45,000. Point72 DIFC Ltd acquired a new stake in shares of Plexus during the third quarter worth approximately $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Plexus during the third quarter worth approximately $55,000. Finally, USA Financial Formulas acquired a new stake in shares of Plexus during the fourth quarter worth approximately $56,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PLXS. Needham & Company LLC raised their price target on shares of Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Stifel Nicolaus assumed coverage on shares of Plexus in a report on Tuesday, February 4th. They issued a “hold” rating and a $152.00 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Plexus in a report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.00.

Plexus Stock Performance

Plexus stock opened at $121.09 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. The company has a market cap of $3.27 billion, a PE ratio of 28.10 and a beta of 0.90. Plexus Corp. has a 12 month low of $90.18 and a 12 month high of $172.89. The company has a fifty day moving average price of $146.94 and a two-hundred day moving average price of $145.83.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. Research analysts expect that Plexus Corp. will post 5.9 earnings per share for the current year.

Insider Buying and Selling at Plexus

In related news, insider Michael J. Running sold 1,250 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $138.62, for a total value of $173,275.00. Following the completion of the sale, the insider now owns 1,276 shares of the company’s stock, valued at $176,879.12. This represents a 49.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Todd P. Kelsey sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $140.00, for a total transaction of $280,000.00. Following the transaction, the chief executive officer now directly owns 87,665 shares in the company, valued at approximately $12,273,100. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,458 shares of company stock worth $2,786,515. 1.76% of the stock is owned by insiders.

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.