Plexus (NASDAQ:PLXS) Announces Quarterly Earnings Results

Plexus (NASDAQ:PLXS) announced its quarterly earnings results on Wednesday. The technology company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.29, Briefing.com reports. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The company’s revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.14 EPS.

Plexus Stock Up 3.9%

Shares of Plexus stock traded up $9.05 during trading on Wednesday, reaching $239.34. The stock had a trading volume of 699,436 shares, compared to its average volume of 312,778. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 35.30 and a beta of 0.88. The stock has a fifty day moving average price of $247.99 and a two-hundred day moving average price of $238.91. Plexus has a 52 week low of $132.03 and a 52 week high of $307.06. The company has a current ratio of 1.49, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling

In other Plexus news, Director Michael V. Schrock sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $275.00, for a total value of $1,100,000.00. Following the sale, the director owned 40,329 shares in the company, valued at approximately $11,090,475. The trade was a 9.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd P. Kelsey sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $250.98, for a total value of $376,470.00. Following the completion of the sale, the chief executive officer owned 65,888 shares in the company, valued at $16,536,570.24. The trade was a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 9,000 shares of company stock worth $2,319,260. 1.78% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $310.00 price target on shares of Plexus in a research report on Friday, August 14th. KeyCorp upgraded Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 price objective for the company in a research report on Monday, September 21st. Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Sidoti upgraded shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 target price on the stock in a report on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Plexus from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Plexus has a consensus rating of “Buy” and an average price target of $276.86.

Plexus Company Profile

Plexus Corp. is an electronics manufacturing services company that helps customers design, develop, manufacture and service complex electronic products. The company provides an integrated product-realization process spanning engineering and design, supply-chain management, manufacturing, testing, logistics and aftermarket services.

Plexus supports original equipment manufacturers in industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.