Plexus (NASDAQ:PLXS) Sets New 12-Month High – Time to Buy?

Plexus Corp. (NASDAQ:PLXS)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $138.40 and last traded at $136.13, with a volume of 7337 shares. The stock had previously closed at $137.93.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PLXS shares. Benchmark increased their price objective on shares of Plexus from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Needham & Company LLC lifted their target price on Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.25.

Plexus Trading Down 1.4 %

The business’s 50 day moving average price is $127.47 and its 200-day moving average price is $113.73. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 38.10 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 0.64.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.17. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The business had revenue of $960.70 million during the quarter, compared to the consensus estimate of $981.32 million. During the same quarter in the previous year, the business earned $1.32 earnings per share. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities analysts forecast that Plexus Corp. will post 3.74 EPS for the current fiscal year.

Insider Buying and Selling at Plexus

In other news, Director Karen Marie Rapp sold 500 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the transaction, the director now owns 9,586 shares of the company’s stock, valued at approximately $1,227,199.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Todd P. Kelsey sold 3,000 shares of Plexus stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $128.40, for a total transaction of $385,200.00. Following the sale, the chief executive officer now directly owns 93,682 shares of the company’s stock, valued at $12,028,768.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Marie Rapp sold 500 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $128.02, for a total transaction of $64,010.00. Following the sale, the director now owns 9,586 shares of the company’s stock, valued at $1,227,199.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,113 shares of company stock worth $2,541,394 over the last quarter. 2.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd increased its holdings in shares of Plexus by 49.9% in the fourth quarter. Quadrature Capital Ltd now owns 21,208 shares of the technology company’s stock valued at $2,287,000 after purchasing an additional 7,057 shares during the last quarter. Congress Asset Management Co. MA grew its position in shares of Plexus by 1.1% in the 1st quarter. Congress Asset Management Co. MA now owns 16,273 shares of the technology company’s stock valued at $1,543,000 after buying an additional 184 shares during the last quarter. Bridge City Capital LLC acquired a new position in Plexus in the first quarter valued at $2,149,000. AlphaMark Advisors LLC acquired a new position in shares of Plexus during the 1st quarter valued at $267,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Plexus by 0.3% during the first quarter. Principal Financial Group Inc. now owns 151,190 shares of the technology company’s stock valued at $14,336,000 after acquiring an additional 387 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

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.