Isthmus Partners LLC Purchases 241 Shares of Plexus Corp. (NASDAQ:PLXS)

Isthmus Partners LLC increased its position in Plexus Corp. (NASDAQ:PLXS) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,702 shares of the technology company’s stock after purchasing an additional 241 shares during the period. Isthmus Partners LLC owned approximately 0.07% of Plexus worth $1,801,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PLXS. Janney Montgomery Scott LLC bought a new position in Plexus in the 1st quarter worth about $456,000. Associated Banc Corp raised its position in Plexus by 2.9% in the 1st quarter. Associated Banc Corp now owns 8,909 shares of the technology company’s stock worth $486,000 after buying an additional 255 shares during the last quarter. Rhumbline Advisers raised its position in Plexus by 0.9% in the 1st quarter. Rhumbline Advisers now owns 88,015 shares of the technology company’s stock worth $8,083,000 after buying an additional 742 shares during the last quarter. The PNC Financial Services Group Inc. raised its position in Plexus by 6.5% in the 1st quarter. The PNC Financial Services Group Inc. now owns 2,937 shares of the technology company’s stock worth $269,000 after buying an additional 178 shares during the last quarter. Finally, IndexIQ Advisors LLC purchased a new position in Plexus in the 1st quarter worth about $401,000. Institutional investors own 93.46% of the company’s stock.

In other news, Director J Joel Quadracci bought 2,840 shares of the stock in a transaction dated Wednesday, August 18th. The stock was purchased at an average cost of $88.02 per share, for a total transaction of $249,976.80. Following the transaction, the director now owns 1,167 shares of the company’s stock, valued at $102,719.34. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 2.38% of the stock is currently owned by corporate insiders.

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

PLXS stock traded up $0.19 during midday trading on Wednesday, hitting $91.44. The company’s stock had a trading volume of 141 shares, compared to its average volume of 125,440. Plexus Corp. has a 12 month low of $64.35 and a 12 month high of $101.17. The company has a quick ratio of 0.94, a current ratio of 1.81 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 18.80 and a beta of 1.19. The company has a 50 day moving average of $88.65 and a two-hundred day moving average of $91.20.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Tuesday, July 20th. The technology company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.22. The business had revenue of $814.39 million during the quarter, compared to the consensus estimate of $797.24 million. Plexus had a return on equity of 14.55% and a net margin of 4.17%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.20 EPS. On average, analysts anticipate that Plexus Corp. will post 4.91 earnings per share for the current fiscal year.

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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