Plexus (NASDAQ:PLXS) Issues Q4 2022 Earnings Guidance

Plexus (NASDAQ:PLXSGet Rating) issued an update on its fourth quarter 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $1.19-$1.35 for the period, compared to the consensus EPS estimate of $1.19. The company issued revenue guidance of $980.00M-$1.02 billion, compared to the consensus revenue estimate of $941.00 million.

Plexus Trading Up 1.7 %

Shares of NASDAQ PLXS traded up $1.47 during mid-day trading on Thursday, hitting $90.52. The company’s stock had a trading volume of 7,256 shares, compared to its average volume of 131,153. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 23.31 and a beta of 1.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.47 and a quick ratio of 0.64. Plexus has a one year low of $72.88 and a one year high of $99.11. The company’s fifty day simple moving average is $81.20 and its 200-day simple moving average is $81.52.

Plexus (NASDAQ:PLXSGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The technology company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.23. Plexus had a net margin of 3.31% and a return on equity of 11.05%. The business had revenue of $981.00 million for the quarter, compared to analyst estimates of $906.32 million. During the same quarter last year, the firm earned $0.99 EPS. Plexus’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Plexus will post 4.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLXS has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Plexus in a report on Thursday, March 31st. They set a hold rating on the stock. Raymond James upgraded shares of Plexus from a market perform rating to an outperform rating and set a $100.00 price objective on the stock in a report on Tuesday, June 7th. Finally, Benchmark assumed coverage on shares of Plexus in a report on Wednesday. They issued a buy rating and a $98.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $99.50.

Insiders Place Their Bets

In other news, insider Steven J. Frisch sold 3,500 shares of the business’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $82.13, for a total value of $287,455.00. Following the completion of the sale, the insider now owns 56,666 shares of the company’s stock, valued at $4,653,978.58. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Plexus news, CEO Todd P. Kelsey sold 1,101 shares of the stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $85.11, for a total transaction of $93,706.11. Following the transaction, the chief executive officer now directly owns 107,528 shares in the company, valued at approximately $9,151,708.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven J. Frisch sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $82.13, for a total value of $287,455.00. Following the transaction, the insider now directly owns 56,666 shares in the company, valued at $4,653,978.58. The disclosure for this sale can be found here. Insiders sold a total of 26,293 shares of company stock valued at $2,182,813 over the last ninety days. 2.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plexus

Institutional investors have recently modified their holdings of the company. Citigroup Inc. raised its position in Plexus by 8.3% in the 1st quarter. Citigroup Inc. now owns 24,447 shares of the technology company’s stock valued at $2,000,000 after buying an additional 1,870 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Plexus by 13.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,222 shares of the technology company’s stock valued at $1,982,000 after buying an additional 2,871 shares during the last quarter. Vident Investment Advisory LLC raised its position in Plexus by 16.4% in the 1st quarter. Vident Investment Advisory LLC now owns 16,312 shares of the technology company’s stock valued at $1,333,000 after buying an additional 2,298 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Plexus by 54.1% during the 1st quarter. MetLife Investment Management LLC now owns 14,788 shares of the technology company’s stock valued at $1,210,000 after purchasing an additional 5,189 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Plexus during the 1st quarter valued at $1,106,000. 94.92% of the stock is owned by institutional investors and hedge funds.

Plexus Company Profile

(Get Rating)

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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