Insider Selling: Plexus Corp. (NASDAQ:PLXS) CAO Sells $272,108.76 in Stock

Plexus Corp. (NASDAQ:PLXS) CAO Angelo Michael Ninivaggi, Jr. sold 2,058 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $132.22, for a total value of $272,108.76. Following the completion of the sale, the chief accounting officer now owns 26,133 shares of the company’s stock, valued at $3,455,305.26. This trade represents a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Plexus Price Performance

Shares of NASDAQ:PLXS opened at $130.72 on Friday. Plexus Corp. has a one year low of $100.96 and a one year high of $172.89. The stock has a fifty day moving average of $125.79 and a 200-day moving average of $141.24. The company has a market capitalization of $3.54 billion, a PE ratio of 30.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.12. Plexus had a return on equity of 10.36% and a net margin of 3.03%. The company had revenue of $980.17 million during the quarter, compared to the consensus estimate of $980.07 million. During the same quarter in the prior year, the firm earned $0.94 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Institutional Trading of Plexus

Several large investors have recently added to or reduced their stakes in PLXS. TD Private Client Wealth LLC acquired a new stake in Plexus during the 4th quarter valued at $28,000. Aquatic Capital Management LLC raised its stake in Plexus by 134.0% during the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company’s stock valued at $37,000 after purchasing an additional 134 shares during the period. R Squared Ltd acquired a new stake in Plexus during the 4th quarter valued at $45,000. Nomura Asset Management Co. Ltd. raised its stake in Plexus by 45.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock valued at $50,000 after purchasing an additional 100 shares during the period. Finally, Versant Capital Management Inc raised its stake in Plexus by 1,000.0% during the 1st quarter. Versant Capital Management Inc now owns 473 shares of the technology company’s stock valued at $61,000 after purchasing an additional 430 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLXS. Needham & Company LLC restated a “buy” rating and issued a $162.00 target price (down from $172.00) on shares of Plexus in a research report on Friday, April 25th. Stifel Nicolaus set a $145.00 price objective on Plexus in a research report on Thursday, April 24th. Finally, Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of Plexus in a research report on Friday, May 16th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Plexus currently has an average rating of “Moderate Buy” and an average target price of $155.67.

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.