Patrick John Jermain Sells 2,178 Shares of Plexus Corp. (NASDAQ:PLXS) Stock

Key Points

• Plexus Corp. CFO Patrick John Jermain sold 2,178 shares of the company at an average price of $130.42, reducing his ownership by 8.50%.
• The stock price of Plexus Corp. increased by 1.4%, trading at $129.63, with a twelve month high of $172.89.
• Research firms have upgraded Plexus ratings, with target prices ranging from $140.00 to $160.00, indicating a consensus rating of "Moderate Buy".

Plexus Corp. (NASDAQ:PLXS - Get Free Report) CFO Patrick John Jermain sold 2,178 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $130.42, for a total value of $284,054.76. Following the transaction, the chief financial officer owned 23,459 shares of the company's stock, valued at approximately $3,059,522.78. The trade was a 8.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Patrick John Jermain also recently made the following trade(s):

• On Thursday, May 15th, Patrick John Jermain sold 4,328 shares of Plexus stock. The stock was sold at an average price of $132.29, for a total value of $572,551.12.

Plexus Price Performance

Shares of Plexus stock traded up $2.83 during trading on Wednesday, hitting $135.89. The stock had a trading volume of 35,340 shares, compared to its average volume of 180,768. Plexus Corp. has a fifty-two week low of $103.43 and a fifty-two week high of $172.89. The firm has a market cap of $3.67 billion, a P/E ratio of 23.14 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.58 and a quick ratio of 0.74. The business has a fifty day moving average of $132.57 and a two-hundred day moving average of $130.62.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The technology company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.71 by $0.19. Plexus had a return on equity of 12.33% and a net margin of 4.04%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business posted $1.45 earnings per share. Plexus's revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Needham & Company LLC cut their price objective on Plexus from $162.00 to $158.00 and set a "buy" rating for the company in a report on Thursday, July 24th. Stifel Nicolaus set a $140.00 price objective on Plexus in a report on Thursday, July 24th. Benchmark restated a "buy" rating and issued a $160.00 price objective on shares of Plexus in a report on Wednesday, June 4th. Sidoti upgraded Plexus from a "neutral" rating to a "buy" rating and upped their price objective for the company from $135.00 to $150.00 in a report on Friday, July 25th. Finally, Wall Street Zen upgraded Plexus from a "buy" rating to a "strong-buy" rating in a report on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $152.00.

Institutional Investors Weigh In On Plexus

Hedge funds have recently modified their holdings of the stock. LPL Financial LLC increased its position in Plexus by 170.5% in the 4th quarter. LPL Financial LLC now owns 8,508 shares of the technology company's stock worth $1,331,000 after purchasing an additional 5,363 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Plexus during the 4th quarter valued at about $451,000. Alliancebernstein L.P. increased its holdings in shares of Plexus by 71.1% during the 4th quarter. Alliancebernstein L.P. now owns 53,821 shares of the technology company's stock valued at $8,422,000 after acquiring an additional 22,374 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Plexus during the 4th quarter valued at about $928,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Plexus by 1.7% during the 4th quarter. Wells Fargo & Company MN now owns 55,493 shares of the technology company's stock valued at $8,684,000 after acquiring an additional 926 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

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.