Plexus (NASDAQ:PLXS) Sets New 12-Month High – Here’s What Happened

Plexus Corp. (NASDAQ:PLXS)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $169.56 and last traded at $169.26, with a volume of 6697 shares changing hands. The stock had previously closed at $167.23.

Analysts Set New Price Targets

Several equities analysts have recently commented on PLXS shares. Needham & Company LLC increased their price objective on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Benchmark raised their price target on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. KeyCorp initiated coverage on Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Finally, StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $133.50.

Plexus Trading Up 0.7 %

The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $147.81 and a two-hundred day simple moving average of $127.06. The firm has a market cap of $4.56 billion, a PE ratio of 41.70 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.30. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the business posted $1.44 EPS. The business’s revenue was up 2.6% on a year-over-year basis. Equities analysts forecast that Plexus Corp. will post 6.14 EPS for the current year.

Insider Activity

In other Plexus news, insider Michael J. Running sold 539 shares of Plexus stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $155.87, for a total transaction of $84,013.93. Following the completion of the transaction, the insider now owns 1,030 shares in the company, valued at approximately $160,546.10. The trade was a 34.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Oliver K. Mihm sold 5,691 shares of Plexus stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $167.06, for a total value of $950,738.46. Following the transaction, the chief operating officer now owns 19,585 shares of the company’s stock, valued at $3,271,870.10. The trade was a 22.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,591 shares of company stock worth $5,143,375 in the last quarter. 2.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Quarry LP raised its stake in Plexus by 573.5% during the third quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after buying an additional 195 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Plexus by 36,700.0% in the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after purchasing an additional 367 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Plexus in the 2nd quarter worth $51,000. Point72 DIFC Ltd bought a new stake in shares of Plexus in the 3rd quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Plexus in the 3rd quarter worth $55,000. Hedge funds and other institutional investors own 94.45% 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.