Plexus (NASDAQ:PLXS) Shares Gap Down - Should You Sell?

Plexus Corp. (NASDAQ:PLXS - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $121.28, but opened at $118.54. Plexus shares last traded at $123.13, with a volume of 6,823 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on PLXS shares. Stifel Nicolaus initiated coverage on Plexus in a report on Tuesday, February 4th. They issued a "hold" rating and a $152.00 price target on the stock. Needham & Company LLC increased their price target on Plexus from $162.00 to $172.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Finally, Benchmark reaffirmed a "buy" rating and issued a $165.00 price objective on shares of Plexus in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $163.00.

Plexus Stock Performance

The company has a 50 day simple moving average of $127.18 and a 200 day simple moving average of $144.55. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 28.46 and a beta of 0.83. 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 (NASDAQ:PLXS - Get Free Report) last released its earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. As a group, equities research analysts forecast that Plexus Corp. will post 5.9 EPS for the current year.

Insider Buying and Selling at Plexus

In other news, insider Michael J. Running sold 1,250 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $138.62, for a total transaction of $173,275.00. Following the transaction, the insider now directly owns 1,276 shares of the company's stock, valued at approximately $176,879.12. This trade represents a 49.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $145.14, for a total transaction of $496,814.22. Following the sale, the chief accounting officer now directly owns 29,501 shares of the company's stock, valued at $4,281,775.14. The trade was a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,958 shares of company stock worth $2,551,930 in the last quarter. 1.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plexus

Several hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of Plexus by 12.1% during the fourth quarter. Blue Trust Inc. now owns 776 shares of the technology company's stock valued at $121,000 after acquiring an additional 84 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Plexus by 45.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock worth $50,000 after buying an additional 100 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of Plexus by 1.8% in the 4th quarter. Tocqueville Asset Management L.P. now owns 5,907 shares of the technology company's stock worth $924,000 after purchasing an additional 107 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Plexus by 17.2% in the fourth quarter. GAMMA Investing LLC now owns 891 shares of the technology company's stock worth $139,000 after buying an additional 131 shares during the period. Finally, Aquatic Capital Management LLC lifted its holdings in Plexus by 134.0% during the fourth quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock valued at $37,000 after purchasing an additional 134 shares in the last quarter. 94.45% of the stock is currently owned by 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.