Insider Selling: Plexus Corp. (PLXS) Chairman Sells $2,233,076.58 in Stock
Plexus Corp. (NASDAQ:PLXS) Chairman Dean A. Foate sold 47,331 shares of Plexus Corp. stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $47.18, for a total value of $2,233,076.58. Following the sale, the chairman now directly owns 241,692 shares in the company, valued at $11,403,028.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Plexus Corp. (NASDAQ:PLXS) opened at 49.62 on Monday. Plexus Corp. has a 52 week low of $28.72 and a 52 week high of $49.78. The firm has a 50-day moving average price of $46.32 and a 200-day moving average price of $45.03. The firm has a market capitalization of $1.66 billion, a P/E ratio of 22.15 and a beta of 1.12.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.02. The firm earned $653.06 million during the quarter, compared to analysts’ expectations of $670.53 million. Plexus Corp. had a net margin of 2.99% and a return on equity of 9.77%. Plexus Corp.’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. Equities analysts forecast that Plexus Corp. will post $3.27 EPS for the current year.
A number of equities analysts recently commented on the company. B. Riley reiterated a “neutral” rating and issued a $50.00 price target on shares of Plexus Corp. in a research note on Sunday, August 14th. Zacks Investment Research upgraded Plexus Corp. from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Friday, July 22nd. Finally, Needham & Company LLC lifted their price target on Plexus Corp. from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $49.80.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Artemis Investment Management LLP purchased a new position in Plexus Corp. during the second quarter worth $15,547,000. JPMorgan Chase & Co. raised its position in Plexus Corp. by 571.4% in the third quarter. JPMorgan Chase & Co. now owns 281,721 shares of the company’s stock worth $13,179,000 after buying an additional 239,759 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in Plexus Corp. during the second quarter worth $10,215,000. Dimensional Fund Advisors LP raised its position in Plexus Corp. by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,261,023 shares of the company’s stock worth $97,675,000 after buying an additional 223,933 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in Plexus Corp. by 8.4% in the third quarter. BlackRock Fund Advisors now owns 2,381,760 shares of the company’s stock worth $111,419,000 after buying an additional 184,109 shares in the last quarter. 93.55% of the stock is owned by hedge funds and other institutional investors.
About Plexus Corp.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus delivers end-to-end solutions for customers in the Americas (AMER); Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
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