Plexus (NASDAQ:PLXS) Reaches New 52-Week High – Should You Buy?

Plexus Corp. (NASDAQ:PLXS) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $162.30 and last traded at $162.30, with a volume of 591 shares. The stock had previously closed at $151.62.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PLXS shares. KeyCorp started coverage on shares of Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Needham & Company LLC raised their target price on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, October 25th. StockNews.com downgraded Plexus from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Benchmark upped 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. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Plexus presently has an average rating of “Hold” and a consensus price target of $133.50.

Plexus Trading Up 9.8 %

The stock has a fifty day simple moving average of $133.72 and a 200 day simple moving average of $118.96. The firm has a market capitalization of $4.53 billion, a P/E ratio of 41.74 and a beta of 0.87. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm earned $1.44 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. As a group, research analysts forecast that Plexus Corp. will post 6.2 EPS for the current year.

Insider Buying and Selling at Plexus

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total transaction of $448,863.47. Following the completion of the transaction, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at $5,093,223.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total value of $448,863.47. Following the completion of the transaction, the chief accounting officer now directly owns 35,323 shares of the company’s stock, valued at approximately $5,093,223.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Patrick John Jermain sold 5,045 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $143.13, for a total transaction of $722,090.85. Following the sale, the chief financial officer now directly owns 24,602 shares in the company, valued at approximately $3,521,284.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,706 shares of company stock worth $2,486,106. Insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Plexus

Large investors have recently added to or reduced their stakes in the stock. UniSuper Management Pty Ltd purchased a new position in shares of Plexus in the 1st quarter worth approximately $515,000. Quantbot Technologies LP bought a new position in Plexus during the first quarter valued at $533,000. Vanguard Group Inc. raised its stake in shares of Plexus by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock valued at $333,374,000 after acquiring an additional 74,988 shares during the period. Comerica Bank lifted its holdings in shares of Plexus by 22.5% in the 1st quarter. Comerica Bank now owns 81,817 shares of the technology company’s stock worth $7,758,000 after acquiring an additional 15,046 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Plexus by 269.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,268 shares of the technology company’s stock worth $750,000 after acquiring an additional 5,303 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.