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

Plexus (NASDAQ:PLXS) posted its quarterly earnings data on Wednesday. The technology company reported $1.45 EPS for the quarter, topping 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 return on equity of 10.77% and a net margin of 2.54%. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 earnings per share. Plexus updated its Q4 guidance to $1.50-1.65 EPS and its Q4 2024 guidance to 1.500-1.650 EPS.

Plexus Price Performance

Shares of PLXS traded up $13.44 during mid-day trading on Thursday, reaching $129.59. The company had a trading volume of 510,437 shares, compared to its average volume of 126,073. Plexus has a twelve month low of $87.21 and a twelve month high of $132.46. 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 company’s 50-day moving average is $107.91 and its 200-day moving average is $100.90. The company has a market capitalization of $3.55 billion, a P/E ratio of 35.49 and a beta of 0.90.

Insider Transactions at Plexus

In other news, CFO Patrick John Jermain sold 4,750 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $100.43, for a total value of $477,042.50. Following the completion of the transaction, the chief financial officer now directly owns 42,932 shares of the company’s stock, valued at approximately $4,311,660.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Patrick John Jermain sold 4,750 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $100.43, for a total transaction of $477,042.50. Following the sale, the chief financial officer now directly owns 42,932 shares in the company, valued at approximately $4,311,660.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Victor (Pang Hau) Tan sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $102.50, for a total value of $205,000.00. Following the sale, the insider now owns 12,605 shares in the company, valued at $1,292,012.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,386 shares of company stock valued at $3,749,884. Corporate insiders own 2.39% of the company’s stock.

Wall Street Analysts Forecast Growth

PLXS has been the topic of a number of recent analyst reports. Needham & Company LLC lifted their price objective on Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus boosted their price target on Plexus from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, Benchmark boosted their price target on Plexus from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Plexus has an average rating of “Hold” and an average target price of $110.25.

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.