Plexus (NASDAQ:PLXS) Announces Quarterly Earnings Results, Beats Expectations By $0.30 EPS

Plexus (NASDAQ:PLXS - Get Free Report) posted its quarterly earnings data on Wednesday. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.30, Briefing.com reports. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.01 billion. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The business's revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.44 earnings per share. Plexus updated its Q1 guidance to $1.52-$1.67 EPS and its Q1 2025 guidance to 1.520-1.670 EPS.

Plexus Stock Performance

Shares of NASDAQ:PLXS traded up $9.32 during midday trading on Thursday, reaching $144.89. 493,564 shares of the company traded hands, compared to its average volume of 127,949. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. Plexus has a 12 month low of $87.21 and a 12 month high of $153.60. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 36.50 and a beta of 0.89. The firm's fifty day moving average price is $130.48 and its two-hundred day moving average price is $115.82.

Analysts Set New Price Targets

PLXS has been the topic of several research reports. Benchmark restated a "buy" rating and issued a $150.00 target price on shares of Plexus in a research note on Monday. Needham & Company LLC boosted their target price on Plexus from $114.00 to $144.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Finally, KeyCorp initiated coverage on Plexus in a research note on Tuesday. They issued a "sector weight" rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $125.25.

Insider Activity at Plexus

In related news, insider Steven J. Frisch sold 6,565 shares of the business's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total transaction of $841,042.15. Following the sale, the insider now directly owns 36,118 shares in the company, valued at approximately $4,627,076.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Steven J. Frisch sold 6,565 shares of the business's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total transaction of $841,042.15. Following the completion of the transaction, the insider now directly owns 36,118 shares in the company, valued at $4,627,076.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victor (Pang Hau) Tan sold 1,000 shares of the business's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total value of $127,500.00. Following the transaction, the insider now owns 8,605 shares of the company's stock, valued at approximately $1,097,137.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,113 shares of company stock worth $2,541,394. 2.39% of the stock is owned by company insiders.

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.