Plexus Corp. (PLXS) Sets New 52-Week High at $45.45
Plexus Corp. (NASDAQ:PLXS) reached a new 52-week high during trading on Wednesday . The stock traded as high as $45.45 and last traded at $45.19, with a volume of 42,455 shares. The stock had previously closed at $45.02.
A number of equities research analysts have issued reports on the company. Zacks Investment Research lowered Plexus Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, March 22nd. Citigroup Inc. increased their price target on Plexus Corp. from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, June 9th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target (up previously from $38.00) on shares of Plexus Corp. in a research note on Friday, April 22nd. Royal Bank Of Canada increased their price target on Plexus Corp. from $38.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Friday, April 22nd. Finally, B. Riley reiterated a “buy” rating and issued a $50.00 price target on shares of Plexus Corp. in a research note on Thursday, June 16th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Plexus Corp. presently has a consensus rating of “Hold” and a consensus price target of $46.43.
The company’s 50-day moving average is $43.84 and its 200-day moving average is $39.08. The company has a market capitalization of $1.52 billion and a price-to-earnings ratio of 19.74.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, April 20th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company earned $618.70 million during the quarter, compared to analyst estimates of $615.69 million. The business’s revenue was down 5.0% compared to the same quarter last year. On average, analysts forecast that Plexus Corp. will post $2.58 earnings per share for the current fiscal year.
In other Plexus Corp. news, CAO Angelo Michael Ninivaggi, Jr. sold 12,500 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $43.08, for a total value of $538,500.00. Following the sale, the chief accounting officer now directly owns 19,087 shares of the company’s stock, valued at approximately $822,267.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Todd P. Kelsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 26th. The shares were sold at an average price of $42.17, for a total transaction of $84,340.00. Following the completion of the sale, the vice president now directly owns 44,162 shares in the company, valued at $1,862,311.54. The disclosure for this sale can be found here.
Several large investors have recently made changes to their positions in the stock. Comerica Bank increased its stake in shares of Plexus Corp. by 0.4% in the fourth quarter. Comerica Bank now owns 34,222 shares of the company’s stock worth $1,092,000 after buying an additional 138 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Plexus Corp. by 58.7% in the fourth quarter. Jennison Associates LLC now owns 47,053 shares of the company’s stock worth $1,643,000 after buying an additional 17,410 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Plexus Corp. by 7.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 49,619 shares of the company’s stock worth $1,733,000 after buying an additional 3,285 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Plexus Corp. by 4.5% in the fourth quarter. Rhumbline Advisers now owns 52,798 shares of the company’s stock worth $1,844,000 after buying an additional 2,290 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Plexus Corp. during the fourth quarter worth approximately $2,085,000.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus delivers end-to-end solutions for customers in the Americas (AMER); Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
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