Plexus (NASDAQ:PLXS) Announces Earnings Results

Plexus (NASDAQ:PLXS - Get Free Report) announced its quarterly earnings data on Wednesday. The technology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.07, Briefing.com reports. The business had revenue of $966.90 million during the quarter, compared to the consensus estimate of $950.75 million. Plexus had a return on equity of 12.16% and a net margin of 3.08%. Plexus's revenue for the quarter was down 9.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.45 EPS. Plexus updated its Q3 guidance to $1.22-1.37 EPS and its Q3 2024 guidance to 1.220-1.370 EPS.

Plexus Stock Up 3.6 %

NASDAQ:PLXS traded up $3.42 during trading hours on Thursday, reaching $99.09. The company had a trading volume of 172,017 shares, compared to its average volume of 117,940. Plexus has a twelve month low of $83.84 and a twelve month high of $114.06. The company has a quick ratio of 0.62, a current ratio of 1.52 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 22.04 and a beta of 1.02. The business's 50-day simple moving average is $94.34 and its two-hundred day simple moving average is $98.37.

Insider Transactions at Plexus

In related news, insider Michael J. Running sold 542 shares of the business's stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $95.60, for a total value of $51,815.20. Following the completion of the sale, the insider now directly owns 1,569 shares of the company's stock, valued at approximately $149,996.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Plexus news, insider Michael J. Running sold 542 shares of the firm's stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $95.60, for a total value of $51,815.20. Following the transaction, the insider now directly owns 1,569 shares of the company's stock, valued at $149,996.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd P. Kelsey sold 2,000 shares of the business's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $94.30, for a total transaction of $188,600.00. Following the sale, the chief executive officer now directly owns 121,859 shares of the company's stock, valued at $11,491,303.70. The disclosure for this sale can be found here. Insiders have sold 32,453 shares of company stock valued at $3,112,875 in the last 90 days. 2.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PLXS has been the subject of a number of recent research reports. Benchmark reaffirmed a "buy" rating and issued a $110.00 target price on shares of Plexus in a report on Wednesday, January 17th. TheStreet lowered Plexus from a "b" rating to a "c+" rating in a research note on Tuesday, February 13th. Needham & Company LLC cut their price target on shares of Plexus from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, January 25th. Finally, Sidoti lowered Plexus from a "buy" rating to a "neutral" rating and set a $112.00 price objective for the company. in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $109.67.

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.