Plexus (NASDAQ:PLXS) Issues Quarterly Earnings Results

Plexus (NASDAQ:PLXS) issued its quarterly earnings results on Wednesday. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07, Briefing.com reports. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The firm had revenue of $966.90 million for the quarter, compared to analysts’ expectations of $950.75 million. During the same period in the previous year, the firm posted $1.45 EPS. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. Plexus updated its Q3 guidance to $1.22-1.37 EPS and its Q3 2024 guidance to 1.220-1.370 EPS.

Plexus Stock Up 1.2 %

Plexus stock opened at $100.28 on Friday. The firm has a market capitalization of $2.77 billion, a PE ratio of 27.70 and a beta of 1.02. The company’s 50-day moving average is $94.48 and its 200-day moving average is $98.41. Plexus has a fifty-two week low of $83.84 and a fifty-two week high of $114.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.51 and a quick ratio of 0.62.

Insider Activity at Plexus

In related news, CFO Patrick John Jermain sold 2,532 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $92.51, for a total value of $234,235.32. Following the transaction, the chief financial officer now owns 54,651 shares in the company, valued at approximately $5,055,764.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Michael J. Running sold 633 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $97.99, for a total value of $62,027.67. Following the transaction, the insider now owns 1,569 shares in the company, valued at approximately $153,746.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Patrick John Jermain sold 2,532 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $92.51, for a total transaction of $234,235.32. Following the completion of the transaction, the chief financial officer now owns 54,651 shares in the company, valued at approximately $5,055,764.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,453 shares of company stock worth $3,112,875. Insiders own 2.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PLXS shares. Needham & Company LLC boosted their price target on shares of Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday. TheStreet cut shares of Plexus from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th. Benchmark reissued a “buy” rating and set a $110.00 price target on shares of Plexus in a research report on Wednesday, January 17th. Sidoti cut shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price target on the stock. in a research report on Tuesday, January 9th. Finally, Stifel Nicolaus boosted their price objective on shares of Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $107.75.

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.