Riverwater Partners LLC Sells 456 Shares of Plexus Corp. (NASDAQ:PLXS)

Riverwater Partners LLC lessened its stake in Plexus Corp. (NASDAQ:PLXS) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,394 shares of the technology company’s stock after selling 456 shares during the period. Plexus accounts for about 1.4% of Riverwater Partners LLC’s portfolio, making the stock its 11th largest position. Riverwater Partners LLC’s holdings in Plexus were worth $2,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in PLXS. Blue Trust Inc. increased its holdings in Plexus by 12.1% during the 4th quarter. Blue Trust Inc. now owns 776 shares of the technology company’s stock worth $121,000 after purchasing an additional 84 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Plexus by 45.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock valued at $50,000 after buying an additional 100 shares during the period. Tocqueville Asset Management L.P. increased its stake in shares of Plexus by 1.8% during the fourth quarter. Tocqueville Asset Management L.P. now owns 5,907 shares of the technology company’s stock valued at $924,000 after buying an additional 107 shares during the period. GAMMA Investing LLC raised its holdings in shares of Plexus by 17.2% in the fourth quarter. GAMMA Investing LLC now owns 891 shares of the technology company’s stock valued at $139,000 after acquiring an additional 131 shares in the last quarter. Finally, TD Private Client Wealth LLC purchased a new stake in Plexus in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

PLXS has been the topic of a number of research reports. Stifel Nicolaus initiated coverage on shares of Plexus in a research report on Tuesday, February 4th. They set a “hold” rating and a $152.00 target price on the stock. Benchmark restated a “buy” rating and set a $165.00 price objective on shares of Plexus in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC lifted their target price on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $163.00.

Insider Activity at Plexus

In other news, insider Frank Zycinski sold 1,200 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $140.84, for a total value of $169,008.00. Following the sale, the insider now owns 723 shares in the company, valued at $101,827.32. This represents a 62.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $145.14, for a total transaction of $496,814.22. Following the transaction, the chief accounting officer now directly owns 29,501 shares of the company’s stock, valued at approximately $4,281,775.14. This trade represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,958 shares of company stock valued at $2,551,930 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Plexus Stock Down 3.3 %

Plexus stock opened at $112.24 on Friday. The business has a fifty day moving average price of $132.60 and a 200-day moving average price of $145.66. Plexus Corp. has a 1-year low of $92.72 and a 1-year high of $172.89. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 26.04 and a beta of 0.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70.

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