Angelo Michael Ninivaggi, Jr. Sells 3,423 Shares of Plexus Corp. (NASDAQ:PLXS) Stock

Plexus Corp. (NASDAQ:PLXS) CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $145.14, for a total transaction of $496,814.22. Following the completion of the sale, the chief accounting officer now directly owns 29,501 shares in the company, valued at $4,281,775.14. This represents a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Plexus Trading Down 1.1 %

NASDAQ PLXS opened at $141.71 on Monday. Plexus Corp. has a one year low of $90.18 and a one year high of $172.89. The company’s 50 day moving average price is $160.77 and its 200 day moving average price is $143.24. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 32.88 and a beta of 0.91.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. On average, sell-side analysts predict that Plexus Corp. will post 5.97 EPS for the current year.

Wall Street Analyst Weigh In

PLXS has been the topic of several research analyst reports. Benchmark reissued a “buy” rating and issued a $165.00 target price on shares of Plexus in a research report on Wednesday, January 22nd. KeyCorp initiated coverage on shares of Plexus in a research report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Needham & Company LLC raised their target price on shares of Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Stifel Nicolaus raised their price target on shares of Plexus from $136.00 to $150.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.33.

Institutional Trading of Plexus

Hedge funds have recently made changes to their positions in the company. Quarry LP raised its stake in shares of Plexus by 573.5% during the third quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after purchasing an additional 195 shares during the period. R Squared Ltd purchased a new stake in shares of Plexus during the fourth quarter valued at approximately $45,000. USA Financial Formulas purchased a new stake in shares of Plexus during the fourth quarter valued at approximately $56,000. Point72 DIFC Ltd purchased a new stake in shares of Plexus during the third quarter valued at approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Plexus during the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.