Plexus (NASDAQ:PLXS) Hits New 12-Month High at $120.47

Shares of Plexus Corp. (NASDAQ:PLXS) reached a new 52-week high during trading on Tuesday . The stock traded as high as $120.47 and last traded at $120.42, with a volume of 34080 shares trading hands. The stock had previously closed at $118.37.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLXS. Benchmark lifted their target price on Plexus from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Needham & Company LLC lifted their price target on shares of Plexus from $107.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Stifel Nicolaus increased their target price on shares of Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $110.25.

Plexus Stock Up 0.4 %

The company has a quick ratio of 0.64, a current ratio of 1.51 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average is $107.54 and its two-hundred day moving average is $100.69. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 32.70 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The business had revenue of $966.90 million during the quarter, compared to analysts’ expectations of $950.75 million. During the same period last year, the business earned $1.45 earnings per share. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. Equities analysts anticipate that Plexus Corp. will post 3.67 EPS for the current year.

Insider Activity

In other news, insider Victor (Pang Hau) Tan sold 2,000 shares of Plexus stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $102.50, for a total transaction of $205,000.00. Following the sale, the insider now owns 12,605 shares in the company, valued at $1,292,012.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Plexus news, insider Victor (Pang Hau) Tan sold 2,000 shares of Plexus stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $102.50, for a total value of $205,000.00. Following the transaction, the insider now directly owns 12,605 shares in the company, valued at $1,292,012.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 1,656 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $115.00, for a total transaction of $190,440.00. Following the sale, the chief executive officer now owns 96,682 shares of the company’s stock, valued at approximately $11,118,430. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,386 shares of company stock worth $3,749,884. 2.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plexus

Several large investors have recently modified their holdings of PLXS. Parallel Advisors LLC grew its position in Plexus by 72.3% in the 4th quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock valued at $38,000 after buying an additional 146 shares during the last quarter. GAMMA Investing LLC purchased a new position in Plexus during the fourth quarter worth about $44,000. Cetera Trust Company N.A acquired a new position in shares of Plexus in the 4th quarter valued at $54,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Plexus in the 4th quarter worth about $66,000. Finally, EntryPoint Capital LLC lifted its position in Plexus by 56.2% during the first quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock valued at $93,000 after buying an additional 351 shares in the last quarter. Hedge funds and other institutional investors 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.