Plexus (NASDAQ:PLXS) Sets New 12-Month High – What’s Next?

Plexus Corp. (NASDAQ:PLXS)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $170.09 and last traded at $169.68, with a volume of 8466 shares trading hands. The stock had previously closed at $167.36.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PLXS shares. Needham & Company LLC lifted their price target on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Stifel Nicolaus lifted their target price on Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. KeyCorp assumed coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Finally, Benchmark boosted their price objective on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, October 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $159.00.

Plexus Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 42.52 and a beta of 0.91. The firm has a fifty day moving average price of $162.30 and a 200-day moving average price of $141.25.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a return on equity of 9.51% and a net margin of 2.82%. As a group, equities analysts anticipate that Plexus Corp. will post 6.13 EPS for the current year.

Insider Activity

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total value of $448,863.47. Following the sale, the chief accounting officer now owns 35,323 shares in the company, valued at $5,093,223.37. This trade represents a 8.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Patrick John Jermain sold 5,045 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $143.13, for a total transaction of $722,090.85. Following the sale, the chief financial officer now directly owns 24,602 shares in the company, valued at approximately $3,521,284.26. The trade was a 17.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,091 shares of company stock worth $5,377,960. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Plexus

Hedge funds have recently modified their holdings of the company. Quarry LP increased its holdings 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 purchasing an additional 195 shares in the last quarter. R Squared Ltd acquired a new position in shares of Plexus in the fourth quarter valued at approximately $45,000. Point72 DIFC Ltd acquired a new position in shares of Plexus in the third quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Plexus in the 3rd quarter valued at approximately $55,000. Finally, USA Financial Formulas acquired a new stake in Plexus during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds 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.