Plexus (NASDAQ:PLXS) Issues Q1 Earnings Guidance

Plexus (NASDAQ:PLXS) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.52-$1.67 for the period, compared to the consensus earnings per share estimate of $1.54. The company issued revenue guidance of $960 million to $1.0 billion, compared to the consensus revenue estimate of $1.03 billion.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Needham & Company LLC lifted their price target on Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, July 26th. KeyCorp assumed coverage on Plexus in a research note on Tuesday. They issued a “sector weight” rating on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $150.00 target price on shares of Plexus in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Plexus has an average rating of “Hold” and an average price target of $125.25.

Plexus Stock Performance

Shares of NASDAQ:PLXS traded up $0.79 during trading on Wednesday, reaching $135.57. 94,506 shares of the stock were exchanged, compared to its average volume of 126,165. Plexus has a 12 month low of $87.21 and a 12 month high of $139.98. The firm has a market cap of $3.69 billion, a PE ratio of 33.95 and a beta of 0.89. The stock has a 50-day moving average price of $129.74 and a 200-day moving average price of $115.48. The company has a current ratio of 1.47, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company posted $1.32 earnings per share. The business’s revenue was down 6.0% on a year-over-year basis. Research analysts expect that Plexus will post 3.74 EPS for the current fiscal year.

Insider Activity at Plexus

In related news, Director Karen Marie Rapp sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the sale, the director now directly owns 9,586 shares in the company, valued at approximately $1,227,199.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Plexus news, Director Karen Marie Rapp sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $128.02, for a total transaction of $64,010.00. Following the completion of the transaction, the director now directly owns 9,586 shares in the company, valued at $1,227,199.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven J. Frisch sold 6,565 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 36,118 shares of the company’s stock, valued at approximately $4,627,076.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,113 shares of company stock worth $2,541,394. Company insiders own 2.39% 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.