Monarch Capital Management Inc. Trims Holdings in Plexus Corp. (NASDAQ:PLXS)

Monarch Capital Management Inc. cut its position in shares of Plexus Corp. (NASDAQ:PLXS) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,300 shares of the technology company’s stock after selling 150 shares during the quarter. Monarch Capital Management Inc.’s holdings in Plexus were worth $986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP boosted its position in Plexus by 573.5% during the third quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after acquiring an additional 195 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Plexus during the 3rd quarter worth $51,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Plexus during the 3rd quarter worth $55,000. USA Financial Formulas acquired a new stake in shares of Plexus during the fourth quarter worth $56,000. Finally, Farther Finance Advisors LLC grew its position in shares of Plexus by 89.4% in the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock valued at $63,000 after purchasing an additional 219 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Victor (Pang Hau) Tan sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $165.90, for a total transaction of $497,700.00. Following the transaction, the insider now directly owns 5,605 shares of the company’s stock, valued at approximately $929,869.50. The trade was a 34.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total transaction of $448,863.47. Following the completion of the transaction, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at $5,093,223.37. This trade represents a 8.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,091 shares of company stock valued at $5,377,960. Company insiders own 1.76% of the company’s stock.

Plexus Stock Performance

NASDAQ PLXS opened at $167.36 on Friday. The business’s 50-day simple moving average is $161.73 and its 200-day simple moving average is $139.87. The firm has a market capitalization of $4.53 billion, a P/E ratio of 41.74 and a beta of 0.91. Plexus Corp. has a 1-year low of $90.18 and a 1-year high of $170.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company posted $1.44 earnings per share. Plexus’s revenue was up 2.6% compared to the same quarter last year. Equities analysts predict that Plexus Corp. will post 6.13 EPS for the current year.

Analyst Ratings Changes

PLXS has been the topic of several recent analyst reports. Stifel Nicolaus increased their target price on Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. KeyCorp started coverage on shares of Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating for the company. Needham & Company LLC upped their price target on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Benchmark lifted their price target on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $159.00.

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.