Plexus (NASDAQ:PLXS) Issues Earnings Results

Plexus (NASDAQ:PLXS) issued its quarterly earnings results on Wednesday. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.01, FiscalAI reports. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Plexus had a return on equity of 12.77% and a net margin of 4.29%.

Plexus Stock Performance

Shares of NASDAQ:PLXS traded up $7.34 during trading on Wednesday, hitting $180.85. The stock had a trading volume of 502,739 shares, compared to its average volume of 286,478. The stock has a 50-day simple moving average of $156.61 and a two-hundred day simple moving average of $144.79. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 28.89 and a beta of 0.81. The company has a quick ratio of 0.77, a current ratio of 1.58 and a debt-to-equity ratio of 0.06. Plexus has a 12-month low of $103.43 and a 12-month high of $186.47.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PLXS. Wall Street Zen cut shares of Plexus from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Williams Trading set a $195.00 price objective on Plexus in a report on Wednesday. Benchmark lifted their price objective on Plexus from $165.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC lifted their price target on shares of Plexus from $158.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Sidoti downgraded shares of Plexus from a “buy” rating to a “neutral” rating and set a $150.00 price target for the company. in a report on Friday, October 24th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $171.00.

Insiders Place Their Bets

In other news, CFO Patrick John Jermain sold 2,000 shares of Plexus stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $143.53, for a total value of $287,060.00. Following the sale, the chief financial officer directly owned 16,961 shares of the company’s stock, valued at $2,434,412.33. The trade was a 10.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Todd P. Kelsey sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $143.50, for a total transaction of $287,000.00. Following the transaction, the chief executive officer owned 60,714 shares in the company, valued at $8,712,459. The trade was a 3.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 9,674 shares of company stock valued at $1,382,876. 1.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Plexus

Hedge funds have recently modified their holdings of the stock. Johnson Financial Group Inc. acquired a new stake in Plexus in the third quarter valued at $72,000. EverSource Wealth Advisors LLC increased its position in Plexus by 583.3% during the second quarter. EverSource Wealth Advisors LLC now owns 574 shares of the technology company’s stock worth $78,000 after buying an additional 490 shares in the last quarter. Corient Private Wealth LLC acquired a new position in shares of Plexus in the second quarter worth $210,000. United Services Automobile Association purchased a new position in Plexus in the 1st quarter valued at about $218,000. Finally, Blair William & Co. IL acquired a new stake in Plexus during the third quarter worth approximately $259,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Plexus Company Profile

Plexus Corp. (NASDAQ: PLXS) is a global provider of electronics manufacturing services (EMS) and precision engineered electronics solutions. Headquartered in Neenah, Wisconsin, the company partners with original equipment manufacturers across industries such as medical, industrial, aerospace and defense, computing, and communications. Plexus offers a full suite of services that span new product introduction, product lifecycle management, supply chain management, printed circuit board assembly, system integration, and aftermarket support.

Founded in 1979, Plexus has grown from a regional electronics assembler into a multinational organization with manufacturing and engineering centers across North America, Europe, and Asia.