Plexus (NASDAQ:PLXS) Shares Gap Down – Here’s What Happened

Plexus Corp. (NASDAQ:PLXS) shares gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PLXS shares. Needham & Company LLC lifted their price objective on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Stifel Nicolaus initiated coverage on shares of Plexus in a report on Tuesday, February 4th. They issued a “hold” rating and a $152.00 price target on the stock. Finally, Benchmark reissued a “buy” rating and set a $165.00 price objective on shares of Plexus in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.00.

Plexus Stock Up 0.7 %

The company has a 50-day moving average of $128.71 and a two-hundred day moving average of $144.98. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.30 billion, a P/E ratio of 28.32 and a beta of 0.83.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. On average, research analysts predict that Plexus Corp. will post 5.9 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $136.96, for a total transaction of $205,440.00. Following the sale, the chief executive officer now owns 86,932 shares of the company’s stock, valued at $11,906,206.72. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Patrick John Jermain sold 3,361 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $144.57, for a total transaction of $485,899.77. Following the sale, the chief financial officer now owns 20,745 shares of the company’s stock, valued at approximately $2,999,104.65. This represents a 13.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,958 shares of company stock valued at $2,551,930. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Plexus

A number of large investors have recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new stake in Plexus during the fourth quarter valued at approximately $107,489,000. Geode Capital Management LLC grew its holdings in Plexus by 0.8% during the third quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company’s stock valued at $89,392,000 after purchasing an additional 4,926 shares during the period. American Century Companies Inc. increased its position in Plexus by 72.2% in the fourth quarter. American Century Companies Inc. now owns 544,017 shares of the technology company’s stock worth $85,128,000 after buying an additional 228,027 shares in the last quarter. Nuveen Asset Management LLC increased its position in Plexus by 6.6% in the fourth quarter. Nuveen Asset Management LLC now owns 351,557 shares of the technology company’s stock worth $55,012,000 after buying an additional 21,911 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Plexus by 10.0% during the 4th quarter. Northern Trust Corp now owns 332,100 shares of the technology company’s stock worth $51,967,000 after acquiring an additional 30,163 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.