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

Plexus Corp. (NASDAQ:PLXS) insider Michael J. Running sold 579 shares of the company’s 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 sale, the insider now owns 1,569 shares in the company, valued at $241,516.17. The trade was a 26.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Plexus Stock Performance

Shares of NASDAQ PLXS opened at $153.13 on Friday. Plexus Corp. has a 52-week low of $90.18 and a 52-week high of $169.41. The stock has a market capitalization of $4.17 billion, a price-to-earnings ratio of 38.19 and a beta of 0.87. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $139.43 and its 200 day simple moving average is $122.29.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.55 by $0.30. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 EPS. As a group, sell-side analysts forecast that Plexus Corp. will post 6.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plexus

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP lifted its holdings in shares of Plexus by 573.5% during the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after buying an additional 195 shares during the last quarter. Quest Partners LLC raised its position in Plexus by 36,700.0% during the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after acquiring an additional 367 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Plexus in the third quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Plexus in the third quarter worth approximately $55,000. Finally, Farther Finance Advisors LLC increased its stake in shares of Plexus by 89.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock worth $63,000 after purchasing an additional 219 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.