Plexus Corp. (NASDAQ:PLXS) Insider Sells $89,125.47 in Stock

by · The Markets Daily

Plexus Corp. (NASDAQ:PLXS – Get Free Report) insider Michael J. Running sold 579 shares of Plexus stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $153.93, for a total value of $89,125.47. Following the transaction, the insider now owns 1,569 shares of the company’s stock, valued at approximately $241,516.17. This represents a 26.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Plexus Price Performance

NASDAQ PLXS traded down $0.58 during mid-day trading on Friday, hitting $153.13. The stock had a trading volume of 133,595 shares, compared to its average volume of 131,892. The firm’s 50 day moving average is $138.77 and its 200 day moving average is $121.79. 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 stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 38.33 and a beta of 0.87. Plexus Corp. has a twelve month low of $90.18 and a twelve month high of $169.41.

Plexus (NASDAQ:PLXS – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The firm 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 quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.44 earnings per share. Equities research analysts forecast that Plexus Corp. will post 6.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plexus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its holdings in Plexus by 573.5% in the 3rd 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 last quarter. Quest Partners LLC lifted its holdings in shares of Plexus by 36,700.0% in the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after acquiring an additional 367 shares during the last quarter. Innealta Capital LLC acquired a new stake in Plexus in the 2nd quarter valued at approximately $51,000. Point72 DIFC Ltd purchased a new position in shares of Plexus during the third quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Plexus during the third quarter worth about $55,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PLXS shares. StockNews.com downgraded shares of Plexus from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Benchmark upped their price target on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. KeyCorp began coverage on Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Finally, Needham & Company LLC boosted their price objective on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $133.50.

Read Our Latest Analysis on PLXS

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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