Plexus Corp. (NASDAQ:PLXS) VP Ronnie Darroch Sells 4,045 Shares of Stock

Plexus Corp. (NASDAQ:PLXS) VP Ronnie Darroch sold 4,045 shares of Plexus stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $57.09, for a total transaction of $230,929.05. Following the sale, the vice president now owns 8,282 shares in the company, valued at $472,819.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

NASDAQ:PLXS traded up $0.03 on Thursday, reaching $58.58. The stock had a trading volume of 2,433 shares, compared to its average volume of 172,360. The company has a market capitalization of $1.69 billion, a P/E ratio of 18.07 and a beta of 0.97. Plexus Corp. has a 1-year low of $47.63 and a 1-year high of $66.98. The company has a quick ratio of 0.91, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $58.29 and a 200-day moving average price of $58.46.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, July 17th. The technology company reported $0.81 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.81. The firm had revenue of $799.64 million for the quarter, compared to analyst estimates of $783.30 million. Plexus had a net margin of 4.62% and a return on equity of 12.40%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 earnings per share. Sell-side analysts predict that Plexus Corp. will post 3.37 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Schaper Benz & Wise Investment Counsel Inc. WI acquired a new position in Plexus in the first quarter valued at about $398,000. Scout Investments Inc. raised its stake in shares of Plexus by 212.1% in the second quarter. Scout Investments Inc. now owns 104,910 shares of the technology company’s stock worth $6,124,000 after acquiring an additional 71,296 shares during the last quarter. Investors Research Corp bought a new position in shares of Plexus in the first quarter worth about $73,000. Oregon Public Employees Retirement Fund raised its stake in shares of Plexus by 1.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 12,386 shares of the technology company’s stock worth $723,000 after acquiring an additional 200 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in shares of Plexus by 10.0% in the second quarter. Tocqueville Asset Management L.P. now owns 125,400 shares of the technology company’s stock worth $7,320,000 after acquiring an additional 11,400 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Several brokerages have recently weighed in on PLXS. Sidoti set a $72.00 target price on shares of Plexus and gave the company a “buy” rating in a research report on Friday, June 14th. Zacks Investment Research upgraded shares of Plexus from a “sell” rating to a “hold” rating and set a $62.00 target price on the stock in a research report on Tuesday, July 30th. Finally, BidaskClub upgraded shares of Plexus from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Plexus currently has a consensus rating of “Buy” and a consensus target price of $68.67.

Plexus Company Profile

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.

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