Plexus Corp. (NASDAQ:PLXS) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in Plexus Corp. (NASDAQ:PLXS) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,938 shares of the technology company’s stock after selling 187 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Plexus were worth $505,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. TD Private Client Wealth LLC purchased a new position in shares of Plexus in the 4th quarter valued at $28,000. Aquatic Capital Management LLC grew its position in Plexus by 134.0% during the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company’s stock worth $37,000 after purchasing an additional 134 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Plexus by 45.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares during the last quarter. Versant Capital Management Inc grew its position in Plexus by 1,000.0% during the 1st quarter. Versant Capital Management Inc now owns 473 shares of the technology company’s stock worth $61,000 after purchasing an additional 430 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Plexus by 49.2% during the 1st quarter. Blue Trust Inc. now owns 846 shares of the technology company’s stock worth $108,000 after purchasing an additional 279 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Stifel Nicolaus set a $145.00 price objective on shares of Plexus in a research report on Thursday, April 24th. Benchmark restated a “buy” rating and set a $160.00 target price on shares of Plexus in a research report on Wednesday, June 4th. Needham & Company LLC reissued a “buy” rating and issued a $162.00 price objective (down previously from $172.00) on shares of Plexus in a research report on Friday, April 25th. Finally, Wall Street Zen raised shares of Plexus from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 30th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Plexus presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.67.

Plexus Stock Performance

Shares of PLXS opened at $133.62 on Wednesday. The firm has a 50-day moving average price of $133.72 and a 200 day moving average price of $134.30. The firm has a market capitalization of $3.62 billion, a PE ratio of 26.00 and a beta of 0.80. The company has a quick ratio of 0.71, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 52-week low of $103.43 and a 52-week high of $172.89.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.12. Plexus had a net margin of 3.60% and a return on equity of 11.17%. The company had revenue of $980.17 million during the quarter, compared to analyst estimates of $980.07 million. During the same quarter last year, the firm posted $0.94 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, sell-side analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael J. Running sold 646 shares of Plexus stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $130.05, for a total value of $84,012.30. Following the transaction, the insider owned 630 shares of the company’s stock, valued at $81,931.50. This trade represents a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karen Marie Rapp sold 500 shares of Plexus stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $130.77, for a total transaction of $65,385.00. Following the completion of the transaction, the director directly owned 9,365 shares in the company, valued at approximately $1,224,661.05. This represents a 5.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,032 shares of company stock valued at $1,582,222 over the last ninety days. Insiders own 1.76% of the company’s stock.

Plexus Company Profile

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.