Insider Selling: Plexus Corp. (NASDAQ:PLXS) CFO Sells $234,600.00 in Stock

Plexus Corp. (NASDAQ:PLXSGet Rating) CFO Patrick John Jermain sold 2,500 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $93.84, for a total transaction of $234,600.00. Following the completion of the sale, the chief financial officer now directly owns 45,434 shares in the company, valued at approximately $4,263,526.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Plexus Stock Down 1.3 %

Shares of Plexus stock opened at $92.63 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.43. The stock has a market capitalization of $2.57 billion, a PE ratio of 21.74 and a beta of 1.14. Plexus Corp. has a 52-week low of $72.88 and a 52-week high of $99.11. The company has a 50-day simple moving average of $82.78 and a two-hundred day simple moving average of $81.62.

Plexus (NASDAQ:PLXSGet Rating) last issued its earnings results on Wednesday, July 27th. The technology company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.23. The business had revenue of $981.00 million during the quarter, compared to analysts’ expectations of $906.32 million. Plexus had a net margin of 3.43% and a return on equity of 11.79%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 earnings per share. On average, analysts anticipate that Plexus Corp. will post 4.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of research reports. Benchmark initiated coverage on shares of Plexus in a research note on Wednesday, July 27th. They set a “buy” rating and a $98.00 target price on the stock. Raymond James raised shares of Plexus from a “market perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research report on Tuesday, June 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Plexus presently has a consensus rating of “Moderate Buy” and an average target price of $99.50.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PLXS. Allspring Global Investments Holdings LLC purchased a new position in shares of Plexus during the fourth quarter valued at approximately $1,874,000. State of New Jersey Common Pension Fund D bought a new stake in Plexus during the fourth quarter valued at approximately $2,953,000. Yousif Capital Management LLC bought a new stake in Plexus during the fourth quarter valued at approximately $2,470,000. Riverwater Partners LLC bought a new stake in Plexus during the fourth quarter valued at approximately $268,000. Finally, Assenagon Asset Management S.A. grew its position in Plexus by 8.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 17,845 shares of the technology company’s stock valued at $1,711,000 after buying an additional 1,391 shares during the period. 94.92% of the stock is owned by hedge funds and other institutional investors.

About Plexus

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Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.

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