Insider Selling: Plexus Corp. (NASDAQ:PLXS) CAO Sells $230,985.00 in Stock

Plexus Corp. (NASDAQ:PLXS) CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the 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 transaction, the chief accounting officer now owns 38,560 shares of the company’s stock, valued at $3,958,569.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Plexus Stock Performance

Shares of PLXS stock opened at $107.43 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.51 and a quick ratio of 0.64. Plexus Corp. has a one year low of $85.35 and a one year high of $114.06. The business’s 50 day simple moving average is $96.31 and its 200 day simple moving average is $99.08. The stock has a market capitalization of $2.97 billion, a PE ratio of 29.68 and a beta of 1.00.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. The company had revenue of $966.90 million for the quarter, compared to analyst estimates of $950.75 million. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The company’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 EPS. As a group, research analysts forecast that Plexus Corp. will post 3.61 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in Plexus during the fourth quarter worth approximately $19,533,000. Westfield Capital Management Co. LP increased its stake in shares of Plexus by 108.8% in the 4th quarter. Westfield Capital Management Co. LP now owns 298,262 shares of the technology company’s stock valued at $32,251,000 after acquiring an additional 155,447 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Plexus during the 3rd quarter valued at $5,865,000. Vanguard Group Inc. grew its holdings in Plexus by 1.4% in the third quarter. Vanguard Group Inc. now owns 3,453,940 shares of the technology company’s stock worth $321,147,000 after purchasing an additional 47,762 shares during the period. Finally, Fiduciary Management Inc. WI increased its stake in Plexus by 3.8% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock valued at $132,667,000 after purchasing an additional 44,398 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Needham & Company LLC increased their price target on Plexus from $107.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, April 26th. TheStreet cut Plexus from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th. Benchmark reiterated a “buy” rating and issued a $110.00 price target on shares of Plexus in a research note on Wednesday, January 17th. Finally, Stifel Nicolaus increased their price target on Plexus from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Plexus has an average rating of “Hold” and an average target price of $107.75.

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.