Plexus (NASDAQ:PLXS) Announces Quarterly Earnings Results, Beats Estimates By $0.30 EPS

Plexus (NASDAQ:PLXS) issued its quarterly earnings results on Wednesday. The technology company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30, Briefing.com reports. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $1.44 EPS. The business’s revenue was up 2.6% on a year-over-year basis. Plexus updated its Q1 guidance to $1.52-$1.67 EPS and its Q1 2025 guidance to 1.520-1.670 EPS.

Plexus Stock Up 6.9 %

Shares of PLXS opened at $144.89 on Friday. Plexus has a 12 month low of $87.21 and a 12 month high of $153.60. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of 36.50 and a beta of 0.89. The company has a 50-day moving average price of $130.48 and a two-hundred day moving average price of $115.82. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07.

Analysts Set New Price Targets

PLXS has been the subject of several research reports. Needham & Company LLC increased their target price on shares of Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Benchmark reiterated a “buy” rating and issued a $150.00 price objective on shares of Plexus in a research report on Monday. Finally, KeyCorp started coverage on Plexus in a research report on Tuesday. They set a “sector weight” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $125.25.

Insider Activity

In other Plexus news, insider Steven J. Frisch sold 6,565 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total value of $841,042.15. Following the sale, the insider now directly owns 36,118 shares in the company, valued at $4,627,076.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Steven J. Frisch sold 6,565 shares of Plexus stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $128.11, for a total transaction of $841,042.15. Following the completion of the transaction, the insider now directly owns 36,118 shares of the company’s stock, valued at $4,627,076.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karen Marie Rapp sold 500 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $128.02, for a total transaction of $64,010.00. Following the sale, the director now directly owns 9,586 shares in the company, valued at $1,227,199.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,113 shares of company stock worth $2,541,394. Company insiders own 2.39% of the company’s stock.

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.