Michael J. Running Sells 539 Shares of Plexus Corp. (NASDAQ:PLXS) Stock

Plexus Corp. (NASDAQ:PLXS) insider Michael J. Running sold 539 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $155.87, for a total value of $84,013.93. Following the completion of the transaction, the insider now directly owns 1,030 shares of the company’s stock, valued at approximately $160,546.10. This trade represents a 34.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Plexus Price Performance

Shares of Plexus stock traded up $2.38 on Friday, hitting $162.01. 302,681 shares of the company traded hands, compared to its average volume of 134,389. Plexus Corp. has a 12-month low of $90.18 and a 12-month high of $169.41. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.39 billion, a P/E ratio of 40.14 and a beta of 0.87. The firm’s 50-day simple moving average is $142.29 and its 200 day simple moving average is $123.67.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. The company 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 firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.44 earnings per share. Analysts expect that Plexus Corp. will post 6.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Plexus

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Plexus by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company’s stock worth $89,392,000 after purchasing an additional 4,926 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in shares of Plexus by 2.8% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock valued at $296,457,000 after buying an additional 59,465 shares in the last quarter. Barclays PLC grew its position in shares of Plexus by 139.4% during the third quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock worth $6,669,000 after purchasing an additional 28,406 shares in the last quarter. XTX Topco Ltd purchased a new stake in Plexus in the 3rd quarter worth $286,000. Finally, Weiss Asset Management LP purchased a new position in Plexus during the 3rd quarter valued at approximately $2,580,000. 94.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLXS has been the subject of several research analyst reports. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday. Needham & Company LLC boosted 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 price target on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, KeyCorp initiated coverage on Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.50.

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.