Citigroup Inc. Buys 14,129 Shares of Plexus Corp. (NASDAQ:PLXS)

Citigroup Inc. raised its position in shares of Plexus Corp. (NASDAQ:PLXS) by 65.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,569 shares of the technology company’s stock after purchasing an additional 14,129 shares during the quarter. Citigroup Inc.’s holdings in Plexus were worth $4,863,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PLXS. Quest Partners LLC grew its stake in shares of Plexus by 36,700.0% during the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after acquiring an additional 367 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Plexus by 89.4% in the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock valued at $63,000 after purchasing an additional 219 shares in the last quarter. Innealta Capital LLC purchased a new stake in Plexus during the second quarter valued at approximately $51,000. Advisors Asset Management Inc. increased its position in Plexus by 85.0% during the third quarter. Advisors Asset Management Inc. now owns 664 shares of the technology company’s stock valued at $91,000 after acquiring an additional 305 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Plexus by 190.1% during the third quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock valued at $104,000 after buying an additional 498 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Plexus Stock Up 1.2 %

Shares of PLXS opened at $166.45 on Tuesday. The stock has a 50 day moving average price of $147.10 and a 200 day moving average price of $126.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 41.51 and a beta of 0.87. Plexus Corp. has a one year low of $90.18 and a one year high of $169.41.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The business had revenue of $1.05 billion during 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%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.44 earnings per share. Equities research analysts forecast that Plexus Corp. will post 6.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Plexus

In other news, CFO Patrick John Jermain sold 2,643 shares of Plexus stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $166.32, for a total transaction of $439,583.76. Following the transaction, the chief financial officer now owns 21,959 shares in the company, valued at $3,652,220.88. The trade was a 10.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Oliver K. Mihm sold 5,691 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $167.06, for a total transaction of $950,738.46. Following the transaction, the chief operating officer now directly owns 19,585 shares in the company, valued at approximately $3,271,870.10. The trade was a 22.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,591 shares of company stock worth $5,143,375. Insiders own 2.39% of the company’s stock.

Analyst Upgrades and Downgrades

PLXS has been the subject of several research analyst reports. Benchmark lifted their price target on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, October 28th. KeyCorp assumed coverage on shares of Plexus in a research note on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Needham & Company LLC lifted their price objective on shares of Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Plexus currently has an average rating of “Moderate Buy” and a consensus 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.