Plexus (PLXS) to Release Earnings on Wednesday

Plexus (NASDAQ:PLXS) is scheduled to be releasing its earnings data after the market closes on Wednesday, April 24th. Analysts expect Plexus to post earnings of $0.77 per share for the quarter. Plexus has set its Q2 2024 guidance at 0.480-0.630 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Plexus (NASDAQ:PLXS) last issued its earnings results on Thursday, January 25th. The technology company reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.01). The company had revenue of $982.61 million for the quarter, compared to analyst estimates of $982.57 million. Plexus had a return on equity of 12.16% and a net margin of 3.08%. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.49 earnings per share. On average, analysts expect Plexus to post $4 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Plexus Trading Up 0.1 %

Shares of Plexus stock opened at $93.24 on Monday. The stock has a market cap of $2.57 billion, a P/E ratio of 20.77 and a beta of 1.02. The stock’s 50 day simple moving average is $94.37 and its 200-day simple moving average is $98.36. 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 current ratio of 1.52 and a quick ratio of 0.62.

Insider Buying and Selling at Plexus

In other news, CFO Patrick John Jermain sold 2,532 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $92.51, for a total value of $234,235.32. Following the sale, the chief financial officer now directly owns 54,651 shares in the company, valued at $5,055,764.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Todd P. Kelsey sold 2,000 shares of Plexus stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. Following the sale, the chief executive officer now owns 121,310 shares of the company’s stock, valued at approximately $11,403,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Patrick John Jermain sold 2,532 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $92.51, for a total transaction of $234,235.32. Following the transaction, the chief financial officer now directly owns 54,651 shares of the company’s stock, valued at $5,055,764.01. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,453 shares of company stock valued at $3,112,875. Corporate insiders own 2.39% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PLXS. Tower Research Capital LLC TRC lifted its stake in Plexus by 680.8% during the first quarter. Tower Research Capital LLC TRC now owns 773 shares of the technology company’s stock valued at $75,000 after purchasing an additional 674 shares during the last quarter. UBS Group AG grew its stake in Plexus by 294.9% in the 3rd quarter. UBS Group AG now owns 924 shares of the technology company’s stock valued at $81,000 after buying an additional 690 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Plexus in the 4th quarter valued at $111,000. FMR LLC lifted its holdings in shares of Plexus by 9.4% during the 3rd quarter. FMR LLC now owns 1,343 shares of the technology company’s stock worth $125,000 after acquiring an additional 115 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of Plexus during the 2nd quarter worth about $127,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLXS has been the topic of several analyst reports. TheStreet lowered shares of Plexus from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th. Sidoti lowered Plexus from a “buy” rating to a “neutral” rating and set a $112.00 target price on the stock. in a research report on Tuesday, January 9th. Needham & Company LLC cut their price objective on Plexus from $110.00 to $107.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Finally, Benchmark reaffirmed a “buy” rating and set a $110.00 price objective on shares of Plexus in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Plexus has an average rating of “Moderate Buy” and an average target price of $109.67.

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.