Plexus (NASDAQ:PLXS) Shares Gap Down – What’s Next?

by · The Cerbat Gem

Plexus Corp. (NASDAQ:PLXS – Get Free Report)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $121.28, but opened at $118.54. Plexus shares last traded at $123.13, with a volume of 6,823 shares.

Analyst Ratings Changes

A number of research firms have recently commented on PLXS. Benchmark reiterated a “buy” rating and set a $165.00 target price on shares of Plexus in a research report on Wednesday, January 22nd. Needham & Company LLC upped their price objective on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Stifel Nicolaus started coverage on Plexus in a report on Tuesday, February 4th. They issued a “hold” rating and a $152.00 target price for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Plexus currently has a consensus rating of “Moderate Buy” and an average target price of $163.00.

Check Out Our Latest Stock Analysis on Plexus

Plexus Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. The company has a market capitalization of $3.30 billion, a P/E ratio of 28.32 and a beta of 0.83. The firm’s fifty day moving average is $128.71 and its 200 day moving average is $144.98.

Plexus (NASDAQ:PLXS – Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. As a group, analysts predict that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insider Activity at Plexus

In other Plexus news, Director Randy J. Martinez sold 887 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $140.52, for a total transaction of $124,641.24. Following the transaction, the director now owns 4,831 shares of the company’s stock, valued at approximately $678,852.12. This trade represents a 15.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Frank Zycinski sold 1,200 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $140.84, for a total value of $169,008.00. Following the sale, the insider now owns 723 shares of the company’s stock, valued at approximately $101,827.32. This represents a 62.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,958 shares of company stock worth $2,551,930 in the last 90 days. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Plexus

Hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB grew its position in Plexus by 27.4% during the 1st quarter. Handelsbanken Fonder AB now owns 8,837 shares of the technology company’s stock worth $1,132,000 after purchasing an additional 1,900 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Plexus in the first quarter worth about $917,000. GAMMA Investing LLC grew its holdings in Plexus by 49.6% during the first quarter. GAMMA Investing LLC now owns 1,333 shares of the technology company’s stock worth $171,000 after acquiring an additional 442 shares during the period. Wedge Capital Management L L P NC purchased a new position in Plexus during the first quarter valued at approximately $2,588,000. Finally, Sendero Wealth Management LLC grew its stake in shares of Plexus by 17.3% during the 1st quarter. Sendero Wealth Management LLC now owns 5,478 shares of the technology company’s stock worth $702,000 after purchasing an additional 809 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

About Plexus

(Get Free Report)

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.

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