Plexus (NASDAQ:PLXS) Releases Earnings Results, Beats Expectations By $0.17 EPS

Plexus (NASDAQ:PLXS) announced its quarterly earnings results on Wednesday. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.17, Briefing.com reports. The firm had revenue of $960.70 million during the quarter, compared to analyst estimates of $981.32 million. Plexus had a return on equity of 10.77% and a net margin of 2.54%. Plexus’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 earnings per share. Plexus updated its Q4 guidance to $1.50-1.65 EPS and its Q4 2024 guidance to 1.500-1.650 EPS.

Plexus Stock Up 11.6 %

Shares of PLXS stock traded up $13.44 during trading hours on Thursday, reaching $129.59. 510,437 shares of the company’s stock were exchanged, compared to its average volume of 126,073. The stock’s 50 day moving average is $107.91 and its 200-day moving average is $100.90. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 35.49 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 has a fifty-two week low of $87.21 and a fifty-two week high of $132.46.

Analysts Set New Price Targets

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

Insider Transactions at Plexus

In other news, CEO Todd P. Kelsey sold 1,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $102.10, for a total transaction of $102,100.00. Following the transaction, the chief executive officer now directly owns 113,810 shares of the company’s stock, valued at $11,620,001. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Victor (Pang Hau) Tan sold 2,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was 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 of the company’s stock, valued at approximately $1,292,012.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 1,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $102.10, for a total value of $102,100.00. Following the completion of the transaction, the chief executive officer now directly owns 113,810 shares in the company, valued at $11,620,001. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,386 shares of company stock valued at $3,749,884. Corporate insiders own 2.39% 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.