Insider Selling: Plexus Corp. (NASDAQ:PLXS) Insider Sells $841,042.15 in Stock

Plexus Corp. (NASDAQ:PLXS) insider Steven J. Frisch sold 6,565 shares of Plexus stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total transaction of $841,042.15. Following the transaction, the insider now directly owns 36,118 shares in the company, valued at approximately $4,627,076.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Plexus Trading Down 5.5 %

NASDAQ:PLXS opened at $117.71 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $3.23 billion, a PE ratio of 32.52 and a beta of 0.90. The firm’s 50 day moving average is $109.98 and its 200 day moving average is $101.99. Plexus Corp. has a 12 month low of $87.21 and a 12 month high of $132.46.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data 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. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The business had revenue of $960.70 million during the quarter, compared to analyst estimates of $981.32 million. During the same period in the previous year, the business earned $1.32 EPS. Plexus’s revenue was down 6.0% compared to the same quarter last year. Sell-side analysts expect that Plexus Corp. will post 3.75 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on PLXS shares. Benchmark lifted their target price on shares of Plexus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Needham & Company LLC lifted their price target on shares of Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus lifted their price target on shares of Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Plexus has an average rating of “Hold” and an average price target of $124.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PLXS. Norges Bank purchased a new position in Plexus in the 4th quarter valued at approximately $19,533,000. Westfield Capital Management Co. LP grew its stake in Plexus by 108.8% in the 4th quarter. Westfield Capital Management Co. LP now owns 298,262 shares of the technology company’s stock valued at $32,251,000 after buying an additional 155,447 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Plexus by 8.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock valued at $111,366,000 after buying an additional 87,574 shares in the last quarter. Vanguard Group Inc. grew its stake in Plexus by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock valued at $333,374,000 after buying an additional 74,988 shares in the last quarter. Finally, Fiduciary Management Inc. WI grew its position in shares of Plexus by 3.8% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock valued at $132,667,000 after purchasing an additional 44,398 shares in the last quarter. 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.