Plexus (NASDAQ:PLXS) Hits New 52-Week High at $132.46

Plexus Corp. (NASDAQ:PLXS) hit a new 52-week high on Thursday . The company traded as high as $132.46 and last traded at $132.39, with a volume of 138042 shares traded. The stock had previously closed at $128.00.

Analysts Set New Price Targets

A number of research firms recently commented on PLXS. Benchmark upped their price objective on shares of Plexus from $120.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Needham & Company LLC increased their price target on Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $124.00.

Plexus Stock Up 3.4 %

The firm has a market capitalization of $3.63 billion, a P/E ratio of 35.36 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. The firm’s 50-day moving average is $122.08 and its 200 day moving average is $108.37.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, topping 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 company had revenue of $960.70 million during the quarter, compared to analysts’ expectations of $981.32 million. During the same period in the prior year, the firm earned $1.32 earnings per share. Plexus’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities research analysts predict that Plexus Corp. will post 3.74 EPS for the current fiscal year.

Insider Activity

In related news, insider Steven J. Frisch sold 6,565 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $128.11, for a total transaction of $841,042.15. Following the completion of the transaction, the insider now owns 36,118 shares in the company, valued at $4,627,076.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Steven J. Frisch sold 6,565 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total transaction of $841,042.15. Following the sale, the insider now owns 36,118 shares in the company, valued at $4,627,076.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victor (Pang Hau) Tan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $127.50, for a total value of $127,500.00. Following the transaction, the insider now directly owns 8,605 shares of the company’s stock, valued at $1,097,137.50. The disclosure for this sale can be found here. Insiders have sold 21,769 shares of company stock worth $2,731,834 over the last ninety days. Insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On Plexus

Several hedge funds and other institutional investors have recently made changes to their positions in PLXS. Parallel Advisors LLC increased its holdings in 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 buying an additional 146 shares during the last quarter. Quest Partners LLC increased its holdings 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 buying an additional 367 shares during the last quarter. Innealta Capital LLC acquired a new position in Plexus during the second quarter worth $51,000. EntryPoint Capital LLC increased its holdings in Plexus by 56.2% during the first quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock worth $93,000 after buying an additional 351 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in Plexus by 12.0% during the second quarter. Signaturefd LLC now owns 1,705 shares of the technology company’s stock worth $176,000 after buying an additional 183 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

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.