Plexus (NASDAQ:PLXS) Hits New 52-Week High at $132.46

Plexus Corp. (NASDAQ:PLXS) shares hit a new 52-week high on Thursday . The company traded as high as $132.46 and last traded at $132.39, with a volume of 138042 shares traded. The stock had previously closed at $128.00.

Analysts Set New Price Targets

PLXS has been the topic of several research reports. Benchmark upped their price objective on shares of Plexus from $120.00 to $145.00 and gave the company a “buy” rating in a report on Monday, July 29th. Needham & Company LLC upped their price objective on shares of Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $124.00.

Plexus Stock Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 0.64. The stock’s 50-day moving average price is $122.08 and its 200-day moving average price is $108.37. The company has a market cap of $3.63 billion, a P/E ratio of 35.36 and a beta of 0.89.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.17. The company had revenue of $960.70 million during the quarter, compared to the consensus estimate of $981.32 million. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.32 earnings per share. Equities analysts anticipate that Plexus Corp. will post 3.74 EPS for the current year.

Insider Transactions at Plexus

In related news, Director Karen Marie Rapp sold 500 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the transaction, the director now owns 9,586 shares of the company’s stock, valued at $1,227,199.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Steven J. Frisch sold 6,565 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total value of $841,042.15. Following the completion of the transaction, the insider now owns 36,118 shares of the company’s stock, valued at $4,627,076.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Karen Marie Rapp sold 500 shares of Plexus stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the transaction, the director now owns 9,586 shares in the company, valued at approximately $1,227,199.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,769 shares of company stock valued at $2,731,834. 2.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC grew its position in Plexus by 72.3% in the fourth quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock valued at $38,000 after acquiring an additional 146 shares during the last quarter. Quest Partners LLC grew its position in Plexus by 36,700.0% in the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after acquiring an additional 367 shares during the last quarter. Innealta Capital LLC bought a new position in Plexus in the second quarter valued at about $51,000. EntryPoint Capital LLC grew its position in Plexus by 56.2% in the first quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock valued at $93,000 after acquiring an additional 351 shares during the last quarter. Finally, Signaturefd LLC grew its position in Plexus by 12.0% in the second quarter. Signaturefd LLC now owns 1,705 shares of the technology company’s stock valued at $176,000 after acquiring an additional 183 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

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.