Plexus (NASDAQ:PLXS) Sets New 1-Year High at $135.26

Plexus Corp. (NASDAQ:PLXS)’s share price reached a new 52-week high on Thursday . The company traded as high as $135.26 and last traded at $134.96, with a volume of 3814 shares. The stock had previously closed at $132.00.

Wall Street Analysts Forecast Growth

PLXS has been the subject of several recent research reports. Benchmark lifted their price target on Plexus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Needham & Company LLC boosted their target price on shares of Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Plexus currently has an average rating of “Hold” and an average target price of $124.00.

Plexus Stock Performance

The firm has a fifty day moving average price of $123.84 and a 200 day moving average price of $109.66. The stock has a market cap of $3.69 billion, a PE ratio of 37.28 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 1.47.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.17. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The business had revenue of $960.70 million for the quarter, compared to the consensus estimate of $981.32 million. During the same quarter in the previous year, the business earned $1.32 EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. Research analysts forecast that Plexus Corp. will post 3.74 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Todd P. Kelsey sold 1,656 shares of Plexus stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $115.00, for a total transaction of $190,440.00. Following the completion of the transaction, the chief executive officer now directly owns 96,682 shares in the company, valued at $11,118,430. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Karen Marie Rapp sold 500 shares of Plexus stock in a transaction on Friday, August 30th. The shares were sold at an average price of $128.02, for a total value of $64,010.00. Following the sale, the director now owns 9,586 shares of the company’s stock, valued at approximately $1,227,199.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 1,656 shares of the 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 transaction, the chief executive officer now directly owns 96,682 shares in the company, valued at $11,118,430. The disclosure for this sale can be found here. Insiders sold a total of 21,769 shares of company stock valued at $2,731,834 in the last quarter. 2.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in shares of Plexus by 72.3% during the fourth quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock worth $38,000 after purchasing an additional 146 shares in the last quarter. Quest Partners LLC increased its stake in Plexus by 36,700.0% during the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after acquiring an additional 367 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Plexus in the 2nd quarter valued at $51,000. EntryPoint Capital LLC lifted its position in Plexus by 56.2% in 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 during the last quarter. Finally, Signaturefd LLC increased its position in shares of Plexus by 12.0% during the second quarter. Signaturefd LLC now owns 1,705 shares of the technology company’s stock valued at $176,000 after acquiring an additional 183 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

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.