Plexus Corp. (NASDAQ:PLXS) CAO Angelo Michael Ninivaggi, Jr. sold 3,061 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $73.22, for a total value of $224,126.42. Following the transaction, the chief accounting officer now directly owns 32,657 shares of the company’s stock, valued at approximately $2,391,145.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of PLXS stock opened at $74.29 on Friday. The business’s 50 day simple moving average is $68.27 and its 200 day simple moving average is $65.17. Plexus Corp. has a one year low of $35.16 and a one year high of $86.53. The stock has a market capitalization of $2.17 billion, a PE ratio of 19.10 and a beta of 1.05. 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 announced its earnings results on Wednesday, July 22nd. The technology company reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.45. Plexus had a return on equity of 12.41% and a net margin of 3.55%. The business had revenue of $857.39 million for the quarter, compared to analysts’ expectations of $801.94 million. As a group, research analysts expect that Plexus Corp. will post 3.93 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of PLXS. Renaissance Technologies LLC bought a new position in shares of Plexus during the 4th quarter worth approximately $3,469,000. UBS Group AG raised its position in shares of Plexus by 186.8% during the fourth quarter. UBS Group AG now owns 4,242 shares of the technology company’s stock worth $327,000 after purchasing an additional 2,763 shares during the period. Guggenheim Capital LLC raised its position in shares of Plexus by 1.6% during the fourth quarter. Guggenheim Capital LLC now owns 77,737 shares of the technology company’s stock worth $5,981,000 after purchasing an additional 1,243 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Plexus by 18.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 129,170 shares of the technology company’s stock worth $9,938,000 after purchasing an additional 19,799 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in shares of Plexus by 6.9% during the fourth quarter. UBS Asset Management Americas Inc. now owns 34,185 shares of the technology company’s stock worth $2,630,000 after purchasing an additional 2,203 shares during the period. Hedge funds and other institutional investors own 95.26% of the company’s stock.
Several brokerages have commented on PLXS. Zacks Investment Research raised Plexus from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Monday, July 27th. Loop Capital boosted their target price on Plexus from $78.00 to $91.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. boosted their price target on Plexus from $67.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. ValuEngine cut Plexus from a “hold” rating to a “sell” rating in a report on Thursday, July 23rd. Finally, Needham & Company LLC boosted their price target on Plexus from $67.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $80.67.
Plexus Company Profile
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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