Insider Selling: Plexus Corp. (NASDAQ:PLXS) CAO Sells 3,113 Shares of Stock

Plexus Corp. (NASDAQ:PLXS) CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total transaction of $448,863.47. Following the completion of the transaction, the chief accounting officer now directly owns 35,323 shares of the company’s stock, valued at approximately $5,093,223.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Plexus Stock Down 1.7 %

NASDAQ PLXS opened at $144.10 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $132.02 and a two-hundred day moving average of $117.29. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 35.94 and a beta of 0.89. Plexus Corp. has a 52 week low of $90.18 and a 52 week high of $153.60.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.55 by $0.30. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. Plexus’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.44 earnings per share. On average, analysts predict that Plexus Corp. will post 6.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of Plexus by 13.8% during the first quarter. BNP Paribas Financial Markets now owns 25,424 shares of the technology company’s stock worth $2,411,000 after purchasing an additional 3,087 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Plexus during the first quarter worth $216,000. Farrow Financial Inc. lifted its position in shares of Plexus by 7.3% during the first quarter. Farrow Financial Inc. now owns 21,370 shares of the technology company’s stock worth $2,026,000 after purchasing an additional 1,446 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Plexus by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 24,166 shares of the technology company’s stock worth $2,291,000 after purchasing an additional 426 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Plexus during the first quarter worth $533,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a report on Tuesday. Needham & Company LLC raised their target price on shares of Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a report on Friday, October 25th. Benchmark raised 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. Finally, KeyCorp assumed coverage on shares of Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” 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.