Insider Selling: Plexus Corp. (NASDAQ:PLXS) Insider Sells 1,250 Shares of Stock

Plexus Corp. (NASDAQ:PLXS) insider Michael J. Running sold 1,250 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $138.62, for a total value of $173,275.00. Following the sale, the insider now owns 1,276 shares of the company’s stock, valued at $176,879.12. This trade represents a 49.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Plexus Stock Down 1.4 %

Shares of PLXS traded down $1.94 during mid-day trading on Tuesday, hitting $134.31. 164,601 shares of the company traded hands, compared to its average volume of 178,619. The company has a market capitalization of $3.63 billion, a PE ratio of 31.16 and a beta of 0.89. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $152.54 and a 200 day moving average of $145.37. Plexus Corp. has a 1-year low of $90.18 and a 1-year high of $172.89.

Plexus (NASDAQ:PLXS) last released its 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%. Equities research analysts anticipate that Plexus Corp. will post 5.9 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Stifel Nicolaus started coverage on shares of Plexus in a research note on Tuesday, February 4th. They issued a “hold” rating and a $152.00 target price for the company. Benchmark reaffirmed a “buy” rating and issued a $165.00 price target on shares of Plexus in a report on Wednesday, January 22nd. Finally, Needham & Company LLC increased their price objective on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $163.00.

Hedge Funds Weigh In On Plexus

Several hedge funds have recently made changes to their positions in PLXS. Creative Planning grew its stake in Plexus by 56.0% during the 3rd quarter. Creative Planning now owns 14,616 shares of the technology company’s stock valued at $1,998,000 after purchasing an additional 5,245 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Plexus by 158.0% during the third quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company’s stock worth $11,289,000 after purchasing an additional 50,564 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Plexus in the 3rd quarter worth approximately $208,000. Smith Group Asset Management LLC raised its position in Plexus by 24.6% during the 3rd quarter. Smith Group Asset Management LLC now owns 4,127 shares of the technology company’s stock worth $564,000 after buying an additional 815 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Plexus by 89.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock valued at $63,000 after acquiring an additional 219 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

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.