Insider Selling: Plexus Corp. (NASDAQ:PLXS) COO Sells 5,691 Shares of Stock

Plexus Corp. (NASDAQ:PLXS) COO Oliver K. Mihm sold 5,691 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $167.06, for a total transaction of $950,738.46. Following the transaction, the chief operating officer now directly owns 19,585 shares of the company’s stock, valued at approximately $3,271,870.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Plexus Stock Up 0.8 %

NASDAQ PLXS traded up $1.27 during trading hours on Friday, hitting $165.97. The company had a trading volume of 152,531 shares, compared to its average volume of 131,846. The firm’s 50 day moving average is $135.25 and its 200 day moving average is $119.61. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $169.41. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 41.50 and a beta of 0.87.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.55 by $0.30. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company posted $1.44 EPS. Plexus’s revenue for the quarter was up 2.6% on a year-over-year basis. Sell-side analysts anticipate that Plexus Corp. will post 6.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PLXS has been the subject of several research analyst reports. KeyCorp began coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating for the company. StockNews.com lowered Plexus from a “buy” rating to a “hold” rating in a research report on Wednesday. Needham & Company LLC boosted their price target on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Benchmark raised their price objective on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $133.50.

Hedge Funds Weigh In On Plexus

A number of institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its position in shares of Plexus by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company’s stock worth $1,424,000 after acquiring an additional 100 shares during the last quarter. SummerHaven Investment Management LLC raised its position in shares of Plexus by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company’s stock valued at $766,000 after purchasing an additional 137 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Plexus by 4.3% in the 2nd quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company’s stock valued at $383,000 after purchasing an additional 152 shares in the last quarter. Farrow Financial Inc. boosted its stake in shares of Plexus by 0.7% during the 3rd quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company’s stock valued at $2,966,000 after buying an additional 155 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of Plexus by 2.2% during the second quarter. Arizona State Retirement System now owns 7,729 shares of the technology company’s stock worth $797,000 after buying an additional 170 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.