Insider Selling: Plexus Corp. (NASDAQ:PLXS) Insider Sells 1,250 Shares of Stock

Plexus Corp. (NASDAQ:PLXS - Get Free Report) insider Michael J. Running sold 1,250 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $138.62, for a total value of $173,275.00. Following the completion of the sale, the insider now owns 1,276 shares of the company's stock, valued at $176,879.12. This trade represents a 49.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Plexus Stock Up 0.8 %

NASDAQ PLXS traded up $1.08 during trading hours on Friday, hitting $132.92. 193,908 shares of the company traded hands, compared to its average volume of 146,102. The business's 50-day moving average is $150.37 and its 200-day moving average is $145.42. Plexus Corp. has a twelve month low of $90.18 and a twelve month high of $172.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 30.84 and a beta of 0.89.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. Sell-side analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current year.

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Institutional Trading of Plexus

Hedge funds have recently made changes to their positions in the business. Creative Planning increased its stake in shares of Plexus by 56.0% during the third quarter. Creative Planning now owns 14,616 shares of the technology company's stock worth $1,998,000 after purchasing an additional 5,245 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Plexus by 158.0% during the third quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company's stock worth $11,289,000 after purchasing an additional 50,564 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Plexus during the third quarter worth approximately $208,000. Smith Group Asset Management LLC increased its stake in Plexus by 24.6% during the 3rd quarter. Smith Group Asset Management LLC now owns 4,127 shares of the technology company's stock worth $564,000 after acquiring an additional 815 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in Plexus by 89.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company's stock worth $63,000 after acquiring an additional 219 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on PLXS. Benchmark restated a "buy" rating and issued a $165.00 price target on shares of Plexus in a report on Wednesday, January 22nd. Needham & Company LLC upped their price objective on Plexus from $162.00 to $172.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Stifel Nicolaus assumed coverage on Plexus in a research report on Tuesday, February 4th. They set a "hold" rating and a $152.00 price objective for the company. Finally, StockNews.com raised Plexus from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Plexus currently has a consensus rating of "Moderate Buy" and an average price target of $163.00.

Plexus Company Profile

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.