Plexus Corp. (NASDAQ:PLXS) CAO Sells $44,165.00 in Stock

Plexus Corp. (NASDAQ:PLXS) CAO Angelo Michael Ninivaggi, Jr. sold 605 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $73.00, for a total transaction of $44,165.00. Following the completion of the sale, the chief accounting officer now owns 32,657 shares in the company, valued at approximately $2,383,961. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of PLXS stock opened at $74.29 on Friday. The stock has a market cap of $2.17 billion, a P/E ratio of 19.10 and a beta of 1.05. Plexus Corp. has a one year low of $35.16 and a one year high of $86.53. The stock has a fifty day moving average price of $68.27 and a 200 day moving average price of $65.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.72 and a quick ratio of 0.93.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, July 22nd. The technology company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.75 by $0.45. The firm had revenue of $857.39 million during the quarter, compared to analysts’ expectations of $801.94 million. Plexus had a return on equity of 12.41% and a net margin of 3.55%. Equities research analysts anticipate that Plexus Corp. will post 3.93 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp lifted its holdings in shares of Plexus by 3.6% during the first quarter. State Street Corp now owns 923,166 shares of the technology company’s stock valued at $50,368,000 after acquiring an additional 32,239 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Plexus by 38.0% during the first quarter. Victory Capital Management Inc. now owns 849,182 shares of the technology company’s stock valued at $46,331,000 after acquiring an additional 233,635 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Plexus by 15.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 716,210 shares of the technology company’s stock valued at $39,076,000 after acquiring an additional 97,820 shares during the period. Norges Bank bought a new position in shares of Plexus during the fourth quarter valued at $32,762,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Plexus by 4.6% during the first quarter. Geode Capital Management LLC now owns 425,096 shares of the technology company’s stock valued at $23,192,000 after acquiring an additional 18,636 shares during the period. 95.26% of the stock is owned by institutional investors.

Several brokerages have recently issued reports on PLXS. Stifel Nicolaus raised their price objective on shares of Plexus from $60.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, July 24th. Loop Capital raised their price objective on shares of Plexus from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Needham & Company LLC raised their price objective on shares of Plexus from $67.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Plexus from $67.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Finally, TheStreet raised Plexus from a “c+” rating to a “b” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $80.67.

About Plexus

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.

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