Plexus Corp. (NASDAQ:PLXS) Insider Sells $84,013.93 in Stock

Plexus Corp. (NASDAQ:PLXS) insider Michael J. Running sold 539 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 1,030 shares of the company’s stock, valued at $160,546.10. This represents a 34.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Plexus Stock Performance

PLXS stock traded up $2.38 during trading on Friday, hitting $162.01. 302,681 shares of the company traded hands, compared to its average volume of 134,389. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. Plexus Corp. has a 1 year low of $90.18 and a 1 year high of $169.41. The stock’s 50-day simple moving average is $142.29 and its 200 day simple moving average is $123.67. The company has a market cap of $4.39 billion, a PE ratio of 40.14 and a beta of 0.87.

Plexus (NASDAQ:PLXS) last announced its quarterly 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. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted $1.44 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts expect that Plexus Corp. will post 6.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a research report on Monday. Needham & Company LLC boosted 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. Benchmark lifted their target price on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, KeyCorp assumed coverage on shares of Plexus in a research note on Tuesday, October 22nd. They set a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.50.

Hedge Funds Weigh In On Plexus

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP grew its holdings in Plexus by 573.5% in the third quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after purchasing an additional 195 shares during the period. Quest Partners LLC lifted its position 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 buying an additional 367 shares in the last quarter. Innealta Capital LLC acquired a new stake in Plexus in the 2nd quarter valued at $51,000. Point72 DIFC Ltd acquired a new stake in Plexus in the 3rd quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Plexus in the 3rd quarter worth $55,000. Hedge funds and other institutional investors own 94.45% 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.