Plexus (NASDAQ:PLXS) issued its quarterly earnings results on Wednesday. The technology company reported $0.81 EPS for the quarter, meeting the consensus estimate of $0.81, RTT News reports. Plexus had a return on equity of 12.40% and a net margin of 4.62%. The firm had revenue of $799.64 million during the quarter, compared to analysts’ expectations of $783.30 million. During the same period in the prior year, the firm posted $0.79 earnings per share. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. Plexus updated its Q4 2019 guidance to $0.81-0.91 EPS.
PLXS opened at $56.05 on Friday. Plexus has a 12-month low of $47.63 and a 12-month high of $66.98. The firm has a market capitalization of $1.68 billion, a PE ratio of 16.08 and a beta of 0.99. The company has a 50 day simple moving average of $55.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.88 and a current ratio of 1.78.
In other news, VP Ronnie Darroch sold 4,325 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $60.56, for a total value of $261,922.00. Following the completion of the sale, the vice president now directly owns 8,451 shares of the company’s stock, valued at $511,792.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd P. Kelsey sold 10,693 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $60.89, for a total value of $651,096.77. Following the completion of the sale, the chief executive officer now directly owns 87,548 shares of the company’s stock, valued at $5,330,797.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,493 shares of company stock valued at $1,485,704. Insiders own 3.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Plexus during the fourth quarter worth approximately $24,853,000. D. E. Shaw & Co. Inc. increased its stake in shares of Plexus by 162.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 122,103 shares of the technology company’s stock worth $6,237,000 after purchasing an additional 75,508 shares during the period. Scout Investments Inc. increased its stake in shares of Plexus by 212.1% during the second quarter. Scout Investments Inc. now owns 104,910 shares of the technology company’s stock worth $6,124,000 after purchasing an additional 71,296 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Plexus by 11.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 617,365 shares of the technology company’s stock worth $31,535,000 after purchasing an additional 64,098 shares during the period. Finally, State of Wisconsin Investment Board increased its stake in shares of Plexus by 25.9% during the first quarter. State of Wisconsin Investment Board now owns 189,490 shares of the technology company’s stock worth $11,549,000 after purchasing an additional 39,000 shares during the period. 94.51% of the stock is owned by institutional investors.
Several research analysts recently commented on the company. BidaskClub cut Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 13th. Zacks Investment Research cut H&E Equipment Services from a “hold” rating to a “sell” rating in a research report on Wednesday. Needham & Company LLC increased their price target on Lam Research from $180.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, Sidoti set a $72.00 price target on Plexus and gave the company a “buy” rating in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $69.67.
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.
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