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 dated Thursday, November 14th. The shares were sold at an average price of $153.93, for a total value of $89,125.47. Following the completion of the transaction, the insider now owns 1,569 shares of the company’s stock, valued at $241,516.17. This represents a 26.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Plexus Stock Down 0.4 %

Shares of Plexus stock opened at $153.13 on Friday. Plexus Corp. has a 1 year low of $90.18 and a 1 year high of $169.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. The company has a 50-day moving average of $139.43 and a 200 day moving average of $122.15. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 38.19 and a beta of 0.87.

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

Hedge Funds Weigh In On Plexus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP raised its position in Plexus by 573.5% in the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after buying an additional 195 shares during the last quarter. Quest Partners LLC raised its stake in shares of Plexus by 36,700.0% in the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after buying an additional 367 shares during the period. Innealta Capital LLC purchased a new position in Plexus during the second quarter valued at approximately $51,000. Point72 DIFC Ltd purchased a new position in shares of Plexus during the 3rd quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Plexus in the third quarter valued at about $55,000. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on PLXS shares. Benchmark increased their target price on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, October 28th. KeyCorp assumed coverage on Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating for the company. Needham & Company LLC upped their target price on shares of 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 downgraded shares of Plexus from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $133.50.

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.