Plexus (NASDAQ:PLXS) Hits New 1-Year High at $79.86

Plexus Corp. (NASDAQ:PLXS)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $79.86 and last traded at $79.76, with a volume of 700 shares changing hands. The stock had previously closed at $78.76.

PLXS has been the subject of a number of research analyst reports. BidaskClub cut Plexus from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 4th. Sidoti cut Plexus from a “buy” rating to a “neutral” rating in a report on Friday, October 25th.

The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 23.08 and a beta of 0.98. The firm has a fifty day moving average of $77.13 and a 200 day moving average of $66.70.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.86 by $0.07. Plexus had a return on equity of 12.16% and a net margin of 3.43%. The firm had revenue of $810.00 million during the quarter, compared to analysts’ expectations of $776.02 million. During the same quarter last year, the firm earned $0.96 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts anticipate that Plexus Corp. will post 4.09 earnings per share for the current fiscal year.

In other news, CEO Todd P. Kelsey sold 4,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $73.42, for a total transaction of $293,680.00. Following the completion of the transaction, the chief executive officer now directly owns 96,494 shares in the company, valued at $7,084,589.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Yong Jin Lim sold 15,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $72.15, for a total value of $1,082,250.00. Following the transaction, the insider now owns 64,213 shares of the company’s stock, valued at $4,632,967.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 196,293 shares of company stock valued at $14,551,812. Insiders own 3.20% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in Plexus by 2.7% in the second quarter. Wells Fargo & Company MN now owns 65,022 shares of the technology company’s stock worth $3,795,000 after purchasing an additional 1,702 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Plexus by 13.8% in the second quarter. JPMorgan Chase & Co. now owns 33,935 shares of the technology company’s stock worth $1,957,000 after purchasing an additional 4,123 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Plexus by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 424,327 shares of the technology company’s stock valued at $24,766,000 after purchasing an additional 7,248 shares during the period. Northern Trust Corp raised its stake in Plexus by 5.0% during the 2nd quarter. Northern Trust Corp now owns 1,020,151 shares of the technology company’s stock valued at $59,546,000 after purchasing an additional 48,925 shares during the period. Finally, Holocene Advisors LP raised its stake in Plexus by 5.4% during the 2nd quarter. Holocene Advisors LP now owns 11,692 shares of the technology company’s stock valued at $682,000 after purchasing an additional 603 shares during the period. Institutional investors and hedge funds own 94.92% of the company’s stock.

About Plexus (NASDAQ:PLXS)

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. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.

Read More: What is a support level?

Receive News & Ratings for Plexus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plexus and related companies with MarketBeat.com's FREE daily email newsletter.