Plexus Corp. (NASDAQ:PLXS) CAO Angelo Michael Ninivaggi, Jr. Sells 2,250 Shares of Stock

Plexus Corp. (NASDAQ:PLXS) CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $102.66, for a total value of $230,985.00. Following the completion of the sale, the chief accounting officer now owns 38,560 shares in the company, valued at approximately $3,958,569.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Plexus Stock Up 0.4 %

NASDAQ:PLXS traded up $0.43 on Tuesday, hitting $106.42. The stock had a trading volume of 85,679 shares, compared to its average volume of 120,947. The stock has a market cap of $2.94 billion, a P/E ratio of 29.28 and a beta of 1.00. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.64 and a current ratio of 1.51. The firm’s fifty day simple moving average is $95.51 and its two-hundred day simple moving average is $98.85. Plexus Corp. has a 1 year low of $84.99 and a 1 year high of $114.06.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The business had revenue of $966.90 million for the quarter, compared to analyst estimates of $950.75 million. Plexus had a return on equity of 10.77% and a net margin of 2.54%. Plexus’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period last year, the company posted $1.45 earnings per share. Analysts predict that Plexus Corp. will post 3.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd lifted its stake in Plexus by 93.7% in the third quarter. Qube Research & Technologies Ltd now owns 22,691 shares of the technology company’s stock valued at $2,110,000 after purchasing an additional 10,975 shares during the last quarter. Avior Wealth Management LLC lifted its position in shares of Plexus by 115.2% during the 4th quarter. Avior Wealth Management LLC now owns 2,118 shares of the technology company’s stock valued at $229,000 after buying an additional 1,134 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Plexus by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,453,940 shares of the technology company’s stock worth $321,147,000 after acquiring an additional 47,762 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Plexus during the 3rd quarter worth $715,000. Finally, First Eagle Investment Management LLC purchased a new position in shares of Plexus in the third quarter worth about $5,865,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PLXS. Needham & Company LLC lifted their target price on shares of Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Sidoti lowered shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 target price on the stock. in a research note on Tuesday, January 9th. TheStreet lowered shares of Plexus from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Stifel Nicolaus upped their price target on Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, Benchmark reissued a “buy” rating and set a $110.00 target price on shares of Plexus in a research report on Wednesday, January 17th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $107.75.

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.