Plexus (NASDAQ:PLXS) released its quarterly earnings results on Tuesday. The technology company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.14, MarketWatch Earnings reports. Plexus had a net margin of 3.47% and a return on equity of 13.10%. The firm had revenue of $830.36 million during the quarter, compared to the consensus estimate of $832.12 million. During the same quarter in the prior year, the firm earned $1.00 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis.
PLXS stock traded down $4.27 during mid-day trading on Thursday, reaching $80.00. The company’s stock had a trading volume of 2,056 shares, compared to its average volume of 136,246. The stock has a market cap of $2.31 billion, a PE ratio of 21.50 and a beta of 1.18. The company has a current ratio of 1.77, a quick ratio of 1.01 and a debt-to-equity ratio of 0.19. Plexus has a fifty-two week low of $35.16 and a fifty-two week high of $86.87. The company’s 50 day moving average is $80.17 and its two-hundred day moving average is $75.03.
Several research analysts recently weighed in on PLXS shares. Sidoti downgraded shares of Plexus from a “buy” rating to a “neutral” rating and set a $89.00 price target for the company. in a research report on Tuesday. Zacks Investment Research downgraded shares of Plexus from a “buy” rating to a “hold” rating and set a $73.00 price target for the company. in a research report on Tuesday, November 3rd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $82.17.
In other news, insider Yong Jin Lim sold 24,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $74.69, for a total value of $1,792,560.00. Following the completion of the sale, the insider now owns 56,654 shares of the company’s stock, valued at approximately $4,231,487.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Dean A. Foate sold 4,000 shares of the stock in a transaction that occurred on Thursday, January 7th. The shares were sold at an average price of $85.50, for a total transaction of $342,000.00. Following the completion of the sale, the chairman now directly owns 113,113 shares of the company’s stock, valued at approximately $9,671,161.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,627 shares of company stock valued at $5,553,675. 2.38% of the stock is owned by insiders.
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 to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.
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