Plexus (NASDAQ:PLXS) Announces Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Plexus (NASDAQ:PLXS) announced its quarterly earnings data on Wednesday. The technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.17, Briefing.com reports. The business had revenue of $960.70 million for the quarter, compared to analyst estimates of $981.32 million. Plexus had a net margin of 2.82% and a return on equity of 9.68%. The company’s revenue was down 6.0% on a year-over-year basis. During the same period last year, the business earned $1.32 EPS. Plexus updated its Q4 guidance to $1.50-1.65 EPS and its Q4 2024 guidance to 1.500-1.650 EPS.

Plexus Stock Performance

Shares of NASDAQ PLXS traded up $1.29 during mid-day trading on Friday, hitting $130.88. The company had a trading volume of 12,438 shares, compared to its average volume of 125,278. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.51 and a quick ratio of 0.64. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 36.06 and a beta of 0.90. Plexus has a 12 month low of $87.21 and a 12 month high of $132.46. The firm’s 50 day simple moving average is $108.33 and its two-hundred day simple moving average is $101.10.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of research reports. Needham & Company LLC raised their target price on shares of Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus raised their price target on Plexus from $90.00 to $95.00 and gave the company a “hold” rating in a report on Friday, April 26th. Finally, Benchmark increased their price objective on Plexus from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Plexus has a consensus rating of “Hold” and an average price target of $117.75.

Insider Activity

In related news, CEO Todd P. Kelsey sold 1,000 shares of Plexus stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $102.10, for a total value of $102,100.00. Following the sale, the chief executive officer now directly owns 113,810 shares in the company, valued at approximately $11,620,001. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Todd P. Kelsey sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $102.10, for a total value of $102,100.00. Following the sale, the chief executive officer now directly owns 113,810 shares in the company, valued at approximately $11,620,001. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $102.66, for a total value of $230,985.00. Following the transaction, the chief accounting officer now directly owns 38,560 shares in the company, valued at $3,958,569.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,386 shares of company stock valued at $3,749,884. 2.39% of the stock is currently owned by company insiders.

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.