Insider Selling: Plexus Corp. (NASDAQ:PLXS) Insider Sells $173,275.00 in Stock

Plexus Corp. (NASDAQ:PLXS) insider Michael J. Running sold 1,250 shares of Plexus stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $138.62, for a total value of $173,275.00. Following the sale, the insider now directly owns 1,276 shares in the company, valued at $176,879.12. This trade represents a 49.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Plexus Stock Down 2.4 %

Shares of NASDAQ:PLXS opened at $131.84 on Friday. The company has a 50-day moving average price of $150.89 and a 200 day moving average price of $145.31. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 12 month low of $90.18 and a 12 month high of $172.89. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 30.59 and a beta of 0.89.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. As a group, equities research analysts predict that Plexus Corp. will post 5.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Plexus by 12.1% in the 4th quarter. Blue Trust Inc. now owns 776 shares of the technology company’s stock worth $121,000 after acquiring an additional 84 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Plexus by 45.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares during the last quarter. Glenmede Trust Co. NA boosted its position in shares of Plexus by 4.4% during the third quarter. Glenmede Trust Co. NA now owns 2,453 shares of the technology company’s stock valued at $335,000 after buying an additional 104 shares during the period. Tocqueville Asset Management L.P. grew its stake in shares of Plexus by 1.8% during the fourth quarter. Tocqueville Asset Management L.P. now owns 5,907 shares of the technology company’s stock valued at $924,000 after buying an additional 107 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Plexus by 17.2% in the fourth quarter. GAMMA Investing LLC now owns 891 shares of the technology company’s stock worth $139,000 after buying an additional 131 shares during the period. Institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PLXS. Benchmark restated a “buy” rating and set a $165.00 target price on shares of Plexus in a research report on Wednesday, January 22nd. Stifel Nicolaus began coverage on Plexus in a research note on Tuesday, February 4th. They set a “hold” rating and a $152.00 price target for the company. Needham & Company LLC lifted their price objective on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $163.00.

About Plexus

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.