Mutual of America Capital Management LLC Sells 407 Shares of Plexus Corp. (NASDAQ:PLXS)

Mutual of America Capital Management LLC trimmed its stake in Plexus Corp. (NASDAQ:PLXS) by 9.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,095 shares of the technology company’s stock after selling 407 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Plexus were worth $560,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PLXS. Louisiana State Employees Retirement System boosted its holdings in shares of Plexus by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company’s stock valued at $1,424,000 after buying an additional 100 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Plexus by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company’s stock valued at $766,000 after acquiring an additional 137 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Plexus by 4.3% in the 2nd quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company’s stock valued at $383,000 after acquiring an additional 152 shares during the period. Farrow Financial Inc. increased its stake in shares of Plexus by 0.7% during the 3rd quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company’s stock worth $2,966,000 after purchasing an additional 155 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Plexus by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 7,729 shares of the technology company’s stock valued at $797,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total value of $448,863.47. Following the completion of the transaction, the chief accounting officer now directly owns 35,323 shares in the company, valued at approximately $5,093,223.37. The trade was a 8.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Running sold 539 shares of Plexus stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $155.87, for a total transaction of $84,013.93. Following the completion of the transaction, the insider now directly owns 1,030 shares in the company, valued at $160,546.10. This trade represents a 34.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,091 shares of company stock valued at $5,207,385 over the last 90 days. 2.39% of the stock is owned by corporate insiders.

Plexus Stock Performance

Shares of NASDAQ PLXS opened at $164.54 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. The firm has a market cap of $4.46 billion, a price-to-earnings ratio of 41.05 and a beta of 0.87. The stock’s fifty day moving average price is $143.70 and its two-hundred day moving average price is $124.68. Plexus Corp. has a one year low of $90.18 and a one year high of $169.41.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. Plexus’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.44 earnings per share. On average, equities analysts forecast that Plexus Corp. will post 6.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PLXS shares. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Needham & Company LLC increased their price target on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 25th. KeyCorp initiated coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating for the company. Finally, Benchmark raised their target price on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.50.

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.