Riverwater Partners LLC Acquires 10,731 Shares of Plexus Corp. (NASDAQ:PLXS)

Riverwater Partners LLC lifted its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 132.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,850 shares of the technology company’s stock after buying an additional 10,731 shares during the period. Plexus makes up 1.3% of Riverwater Partners LLC’s portfolio, making the stock its 16th biggest position. Riverwater Partners LLC owned about 0.07% of Plexus worth $2,545,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its holdings in shares of Plexus by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company’s stock worth $1,424,000 after buying an additional 100 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Plexus by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company’s stock worth $766,000 after acquiring an additional 137 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Plexus by 4.3% in the 2nd quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company’s stock worth $383,000 after purchasing an additional 152 shares in the last quarter. Farrow Financial Inc. increased its stake in shares of Plexus by 0.8% in the 2nd quarter. Farrow Financial Inc. now owns 21,537 shares of the technology company’s stock worth $2,222,000 after purchasing an additional 167 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in Plexus by 2.2% during the second quarter. Arizona State Retirement System now owns 7,729 shares of the technology company’s stock valued at $797,000 after purchasing an additional 170 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Plexus Stock Up 0.6 %

Shares of PLXS opened at $135.57 on Thursday. The business’s 50 day moving average is $130.05 and its 200 day moving average is $115.62. The company has a current ratio of 1.47, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 12-month low of $87.21 and a 12-month high of $139.98. The company has a market capitalization of $3.71 billion, a PE ratio of 37.45 and a beta of 0.89.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.17. The firm had revenue of $960.70 million for the quarter, compared to analysts’ expectations of $981.32 million. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 earnings per share. Research analysts expect that Plexus Corp. will post 3.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on PLXS. Benchmark reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Plexus in a research note on Monday. Needham & Company LLC raised their target price on shares of Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, KeyCorp assumed coverage on shares of Plexus in a report on Tuesday. They set a “sector weight” rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $125.25.

Insider Buying and Selling at Plexus

In other news, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $128.02, for a total transaction of $64,010.00. Following the completion of the transaction, the director now owns 9,586 shares in the company, valued at $1,227,199.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Victor (Pang Hau) Tan sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total value of $127,500.00. Following the completion of the sale, the insider now directly owns 8,605 shares of the company’s stock, valued at $1,097,137.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the sale, the director now owns 9,586 shares of the company’s stock, valued at approximately $1,227,199.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,113 shares of company stock worth $2,541,394. Insiders own 2.39% of the company’s stock.

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.