Plexus (NASDAQ:PLXS) Reaches New 12-Month High – Here’s What Happened

by · The Markets Daily

Plexus Corp. (NASDAQ:PLXS – Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $162.30 and last traded at $162.30, with a volume of 591 shares. The stock had previously closed at $151.62.

Wall Street Analyst Weigh In

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

Get Our Latest Stock Analysis on PLXS

Plexus Price Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51. The stock has a market capitalization of $4.53 billion, a PE ratio of 41.74 and a beta of 0.87. The business’s 50-day moving average price is $133.72 and its 200 day moving average price is $118.96.

Plexus (NASDAQ:PLXS – Get Free Report) last announced its 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 business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.44 EPS. Research analysts forecast that Plexus Corp. will post 6.2 earnings per share for the current year.

Insider Transactions at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 1,000 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $123.75, for a total transaction of $123,750.00. Following the completion of the transaction, the chief executive officer now owns 87,026 shares of the company’s stock, valued at approximately $10,769,467.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total transaction of $448,863.47. Following the completion of the transaction, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at $5,093,223.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 1,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $123.75, for a total value of $123,750.00. Following the completion of the sale, the chief executive officer now directly owns 87,026 shares in the company, valued at approximately $10,769,467.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,706 shares of company stock valued at $2,486,106. Corporate insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On Plexus

A number of hedge funds have recently bought and sold shares of PLXS. American Century Companies Inc. boosted its stake in Plexus by 204.3% during the 2nd quarter. American Century Companies Inc. now owns 158,032 shares of the technology company’s stock valued at $16,306,000 after purchasing an additional 106,103 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Plexus by 8.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock worth $111,366,000 after buying an additional 87,574 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in Plexus by 28.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 384,248 shares of the technology company’s stock valued at $36,434,000 after acquiring an additional 85,986 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Plexus by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock valued at $333,374,000 after acquiring an additional 74,988 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Plexus by 158.0% in the third quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company’s stock worth $11,289,000 after acquiring an additional 50,564 shares during the period. Institutional investors own 94.45% of the company’s stock.

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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