Plexus (NASDAQ:PLXS) Hits New 1-Year High at $120.47

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

Analyst Ratings Changes

A number of research firms recently weighed in on PLXS. Needham & Company LLC increased their price target on Plexus from $107.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus upped their price target on shares of Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Finally, Benchmark lifted their price target on shares of Plexus from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday, June 21st. 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, the company currently has a consensus rating of “Hold” and an average price target of $110.25.

Plexus Trading Up 0.4 %

The firm has a 50-day moving average price of $107.54 and a 200-day moving average price of $100.69. The stock has a market capitalization of $3.26 billion, a PE ratio of 32.70 and a beta of 0.90. The company has a current ratio of 1.51, a quick ratio of 0.64 and a debt-to-equity ratio of 0.15.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.07. The company had revenue of $966.90 million during the quarter, compared to the consensus estimate of $950.75 million. Plexus had a return on equity of 10.77% and a net margin of 2.54%. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.45 EPS. As a group, equities analysts forecast that Plexus Corp. will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Plexus news, CEO Todd P. Kelsey sold 1,656 shares of the firm’s 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 in the company, valued at $11,118,430. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Todd P. Kelsey sold 1,656 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total transaction of $190,440.00. Following the completion of the sale, the chief executive officer now directly owns 96,682 shares in the company, valued at approximately $11,118,430. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Patrick John Jermain sold 4,750 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $100.43, for a total value of $477,042.50. Following the completion of the sale, the chief financial officer now owns 42,932 shares of the company’s stock, valued at approximately $4,311,660.76. The disclosure for this sale can be found here. Insiders sold a total of 35,386 shares of company stock worth $3,749,884 over the last ninety days. 2.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Plexus

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Plexus by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock valued at $333,374,000 after acquiring an additional 74,988 shares during the last quarter. Fiduciary Management Inc. WI boosted its stake in shares of Plexus by 3.8% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock worth $132,667,000 after acquiring an additional 44,398 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Plexus by 3.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 991,766 shares of the technology company’s stock worth $94,040,000 after purchasing an additional 36,913 shares during the period. BNP Paribas Asset Management Holding S.A. boosted its position in shares of Plexus by 0.9% during the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 954,853 shares of the technology company’s stock worth $103,248,000 after acquiring an additional 8,243 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its position in shares of Plexus by 1.1% in the fourth quarter. Boston Trust Walden Corp now owns 402,382 shares of the technology company’s stock worth $43,510,000 after buying an additional 4,500 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.