Plexus Corp. (NASDAQ:PLXS) Insider Michael J. Running Sells 579 Shares

Plexus Corp. (NASDAQ:PLXS) insider Michael J. Running sold 579 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $153.93, for a total transaction of $89,125.47. Following the completion of the transaction, the insider now owns 1,569 shares in the company, valued at $241,516.17. This represents a 26.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Plexus Price Performance

PLXS traded down $0.58 during trading on Friday, reaching $153.13. 133,595 shares of the stock were exchanged, compared to its average volume of 131,892. Plexus Corp. has a 1 year low of $90.18 and a 1 year high of $169.41. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 38.33 and a beta of 0.87. The business’s 50 day moving average price is $138.77 and its two-hundred day moving average price is $121.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.55 by $0.30. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business earned $1.44 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts anticipate that Plexus Corp. will post 6.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Benchmark raised their price objective on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. KeyCorp assumed coverage on Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Needham & Company LLC increased their price objective on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, StockNews.com lowered shares of Plexus from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $133.50.

Institutional Trading of Plexus

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP increased its position in Plexus by 573.5% during the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after purchasing an additional 195 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Plexus by 36,700.0% during 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 during the last quarter. Innealta Capital LLC purchased a new stake in shares of Plexus during the second quarter worth about $51,000. Point72 DIFC Ltd acquired a new position in shares of Plexus in the third quarter valued at approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Plexus during the 3rd quarter worth $55,000. 94.45% of the stock is currently owned by hedge funds and other 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.