Insider Selling: Plexus Corp. (NASDAQ:PLXS) Insider Sells 646 Shares of Stock

Plexus Corp. (NASDAQ:PLXS - Get Free Report) insider Michael J. Running sold 646 shares of Plexus stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $130.05, for a total value of $84,012.30. Following the transaction, the insider now directly owns 630 shares in the company, valued at approximately $81,931.50. The trade was a 50.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Plexus Stock Performance

PLXS stock traded up $1.37 during midday trading on Friday, hitting $132.86. The company's stock had a trading volume of 99,141 shares, compared to its average volume of 168,788. The stock's 50-day moving average price is $126.11 and its 200 day moving average price is $140.53. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 1 year low of $100.96 and a 1 year high of $172.89. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of 30.83 and a beta of 0.81.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.12. The firm had revenue of $980.17 million for the quarter, compared to analyst estimates of $980.07 million. Plexus had a return on equity of 10.36% and a net margin of 3.03%. The business's revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. On average, equities analysts forecast that Plexus Corp. will post 5.9 EPS for the current year.

Wall Street Analyst Weigh In

PLXS has been the topic of several research analyst reports. Stifel Nicolaus set a $145.00 price objective on Plexus in a research report on Thursday, April 24th. Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of Plexus in a research report on Wednesday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $162.00 price objective (down previously from $172.00) on shares of Plexus in a research report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $155.67.

Institutional Trading of Plexus

Several hedge funds have recently made changes to their positions in the company. Inspire Investing LLC raised its stake in shares of Plexus by 4.8% in the first quarter. Inspire Investing LLC now owns 2,682 shares of the technology company's stock valued at $344,000 after buying an additional 123 shares during the period. Strs Ohio bought a new stake in shares of Plexus in the first quarter valued at $1,089,000. Acadian Asset Management LLC raised its stake in shares of Plexus by 666.3% in the first quarter. Acadian Asset Management LLC now owns 14,660 shares of the technology company's stock valued at $1,876,000 after buying an additional 12,747 shares during the period. Intech Investment Management LLC raised its stake in shares of Plexus by 34.2% in the first quarter. Intech Investment Management LLC now owns 14,823 shares of the technology company's stock valued at $1,899,000 after buying an additional 3,779 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Plexus by 12.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,584 shares of the technology company's stock valued at $10,197,000 after buying an additional 9,078 shares during the period. 94.45% of the stock is currently owned by institutional investors.

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.