Plexus Corp. (NASDAQ:PLXS) Shares Acquired by Isthmus Partners LLC

Isthmus Partners LLC grew its holdings in Plexus Corp. (NASDAQ:PLXS) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,702 shares of the technology company’s stock after acquiring an additional 241 shares during the quarter. Isthmus Partners LLC owned 0.07% of Plexus worth $1,801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Federated Hermes Inc. lifted its holdings in shares of Plexus by 122.4% during the first quarter. Federated Hermes Inc. now owns 278 shares of the technology company’s stock worth $26,000 after purchasing an additional 153 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Plexus during the second quarter worth about $34,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Plexus during the first quarter worth about $45,000. Geneos Wealth Management Inc. acquired a new stake in shares of Plexus during the first quarter worth about $85,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Plexus by 439.1% during the first quarter. Captrust Financial Advisors now owns 1,159 shares of the technology company’s stock worth $106,000 after purchasing an additional 944 shares during the period. 93.46% of the stock is owned by institutional investors and hedge funds.

Shares of Plexus stock traded up $0.19 on Wednesday, reaching $91.44. The company’s stock had a trading volume of 141 shares, compared to its average volume of 125,440. The company has a market capitalization of $2.61 billion, a P/E ratio of 18.80 and a beta of 1.19. Plexus Corp. has a 52-week low of $64.35 and a 52-week high of $101.17. The stock has a 50-day moving average price of $88.65 and a 200-day moving average price of $91.20. The company has a quick ratio of 0.94, a current ratio of 1.81 and a debt-to-equity ratio of 0.18.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Tuesday, July 20th. The technology company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.22. The business had revenue of $814.39 million during the quarter, compared to analysts’ expectations of $797.24 million. Plexus had a return on equity of 14.55% and a net margin of 4.17%. The business’s revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. Sell-side analysts forecast that Plexus Corp. will post 4.91 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on PLXS shares. Loop Capital lifted their target price on Plexus from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Friday, June 11th. Raymond James set a $85.73 target price on Plexus and gave the stock a “hold” rating in a report on Monday, July 19th. Fox-Davies Capital raised Plexus from an “equal weight” rating to an “overweight” rating and set a $110.00 target price for the company in a report on Monday, August 23rd. Needham & Company LLC reiterated a “buy” rating and set a $108.00 price target on shares of Plexus in a research report on Friday, September 10th. Finally, Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Tuesday, June 22nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Plexus has an average rating of “Buy” and a consensus target price of $102.79.

In other news, Director J Joel Quadracci purchased 2,840 shares of the stock in a transaction dated Wednesday, August 18th. The shares were purchased at an average cost of $88.02 per share, with a total value of $249,976.80. Following the completion of the purchase, the director now directly owns 1,167 shares of the company’s stock, valued at approximately $102,719.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.38% of the company’s stock.

About Plexus

Plexus Corp. engages in the provision of electronic manufacturing services. The firm partners with companies to transform concepts into branded products and deliver them to the market. It has partnerships with customers in the healthcare and life sciences; industrial and commercial; communications; and aerospace and defense market sectors.

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Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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