Insider Selling: Plexus Corp. (NASDAQ:PLXS) CAO Sells $496,814.22 in Stock

Plexus Corp. (NASDAQ:PLXS) CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $145.14, for a total transaction of $496,814.22. Following the completion of the transaction, the chief accounting officer now directly owns 29,501 shares in the company, valued at $4,281,775.14. This represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Plexus Stock Performance

NASDAQ:PLXS opened at $141.71 on Monday. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $172.89. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $160.77 and its 200-day simple moving average is $143.24. The stock has a market cap of $3.84 billion, a PE ratio of 32.88 and a beta of 0.91.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. Analysts expect that Plexus Corp. will post 5.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Plexus

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP boosted its position in shares of Plexus by 573.5% in the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after buying an additional 195 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Plexus in the 4th quarter worth about $45,000. Point72 DIFC Ltd purchased a new position in Plexus in the 3rd quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Plexus during the 3rd quarter worth about $55,000. Finally, USA Financial Formulas acquired a new stake in shares of Plexus during the 4th quarter worth about $56,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PLXS shares. KeyCorp started coverage on shares of Plexus in a research note on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Benchmark reissued a “buy” rating and issued a $165.00 price objective on shares of Plexus in a research note on Wednesday, January 22nd. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Needham & Company LLC upped their price target on shares of Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Stifel Nicolaus upped their price target on shares of Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Plexus currently has a consensus rating of “Moderate Buy” and an average target price of $162.33.

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.