Plexus Corp. (NASDAQ:PLXS) Holdings Lowered by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLXS. GAMMA Investing LLC grew its stake in shares of Plexus by 49.6% in the 1st quarter. GAMMA Investing LLC now owns 1,333 shares of the technology company’s stock worth $171,000 after purchasing an additional 442 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Plexus in the 1st quarter worth approximately $917,000. Ritholtz Wealth Management acquired a new position in shares of Plexus in the 1st quarter worth approximately $285,000. Meeder Asset Management Inc. acquired a new position in shares of Plexus in the 1st quarter worth approximately $121,000. Finally, Franklin Resources Inc. acquired a new position in shares of Plexus in the 4th quarter worth approximately $928,000. 94.45% of the stock is currently owned by institutional investors.

Plexus Stock Performance

Shares of PLXS opened at $128.51 on Tuesday. The company’s 50 day moving average price is $132.57 and its 200 day moving average price is $130.60. Plexus Corp. has a 52 week low of $103.43 and a 52 week high of $172.89. The company has a market capitalization of $3.47 billion, a PE ratio of 21.89 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.58.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. Plexus had a net margin of 4.04% and a return on equity of 12.33%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $1.45 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Research analysts expect that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus set a $140.00 price objective on shares of Plexus in a research note on Thursday, July 24th. Needham & Company LLC decreased their price objective on shares of Plexus from $162.00 to $158.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. Wall Street Zen raised shares of Plexus from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 30th. Sidoti raised shares of Plexus from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $135.00 to $150.00 in a research note on Friday, July 25th. Finally, Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Plexus in a research note on Wednesday, June 4th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $152.00.

Insider Transactions at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $125.63, for a total value of $188,445.00. Following the completion of the sale, the chief executive officer directly owned 72,214 shares in the company, valued at $9,072,244.82. The trade was a 2.03% 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, 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 sale, the director owned 9,365 shares of the company’s stock, valued at $1,224,661.05. This trade represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,710 shares of company stock valued at $2,054,722. Insiders own 1.76% of the company’s stock.

Plexus 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.