Plexus (NASDAQ:PLXS) Posts Earnings Results, Beats Expectations By $0.07 EPS

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

Plexus Trading Up 1.2 %

NASDAQ:PLXS opened at $100.28 on Friday. The stock has a 50-day simple moving average of $94.48 and a 200-day simple moving average of $98.41. The stock has a market cap of $2.77 billion, a P/E ratio of 27.70 and a beta of 1.02. Plexus has a 1 year low of $83.84 and a 1 year high of $114.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.62 and a current ratio of 1.51.

Insider Transactions at Plexus

In related news, insider Michael J. Running sold 542 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $95.60, for a total value of $51,815.20. Following the completion of the sale, the insider now directly owns 1,569 shares of the company’s stock, valued at approximately $149,996.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $97.18, for a total value of $358,982.92. Following the completion of the sale, the chief accounting officer now directly owns 40,875 shares of the company’s stock, valued at approximately $3,972,232.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Running sold 542 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $95.60, for a total value of $51,815.20. Following the completion of the sale, the insider now directly owns 1,569 shares of the company’s stock, valued at $149,996.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,453 shares of company stock valued at $3,112,875. 2.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of research analyst reports. TheStreet lowered Plexus from a “b” rating to a “c+” rating in a research note on Tuesday, February 13th. Sidoti downgraded Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a report on Tuesday, January 9th. Benchmark restated a “buy” rating and set a $110.00 price target on shares of Plexus in a report on Wednesday, January 17th. Stifel Nicolaus upped their price target on Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday. Finally, Needham & Company LLC upped their price target on Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.