Plexus (NASDAQ:PLXS) Hits New 12-Month High at $120.47

Plexus Corp. (NASDAQ:PLXS) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $120.47 and last traded at $120.42, with a volume of 34080 shares. The stock had previously closed at $118.37.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Needham & Company LLC raised their target price on shares of Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Stifel Nicolaus raised their target price on shares of Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, Benchmark raised their target price on shares of Plexus from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Plexus has an average rating of “Hold” and an average price target of $110.25.

Plexus Trading Up 11.6 %

The business’s 50-day moving average price is $107.91 and its 200 day moving average price is $100.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.51 and a quick ratio of 0.64. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 35.49 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.17. The business had revenue of $960.70 million during the quarter, compared to analyst estimates of $981.32 million. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The business’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.32 earnings per share. On average, equities analysts forecast that Plexus Corp. will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of Plexus stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $102.66, for a total value of $230,985.00. Following the completion of the sale, the chief accounting officer now owns 38,560 shares in the company, valued at $3,958,569.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Plexus news, insider Victor (Pang Hau) Tan sold 2,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $102.50, for a total transaction of $205,000.00. Following the completion of the sale, the insider now owns 12,605 shares in the company, valued at $1,292,012.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $102.66, for a total transaction of $230,985.00. Following the sale, the chief accounting officer now owns 38,560 shares of the company’s stock, valued at approximately $3,958,569.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,386 shares of company stock worth $3,749,884. Insiders own 2.39% of the company’s stock.

Institutional Trading of Plexus

Institutional investors have recently added to or reduced their stakes in the business. Trexquant Investment LP bought a new position in shares of Plexus during the fourth quarter worth about $915,000. Westfield Capital Management Co. LP grew its position in shares of Plexus by 108.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 298,262 shares of the technology company’s stock worth $32,251,000 after acquiring an additional 155,447 shares during the last quarter. Norges Bank bought a new position in shares of Plexus during the fourth quarter worth about $19,533,000. Quantbot Technologies LP bought a new position in shares of Plexus during the first quarter worth about $533,000. Finally, Fiduciary Management Inc. WI grew its position in shares of Plexus by 3.8% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock worth $132,667,000 after acquiring an additional 44,398 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

About Plexus

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.