Insider Selling: Plexus Corp. (PLXS) Chairman Sells $483,724.80 in Stock
Plexus Corp. (NASDAQ:PLXS) Chairman Dean A. Foate sold 10,336 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $46.80, for a total value of $483,724.80. Following the completion of the sale, the chairman now owns 241,692 shares of the company’s stock, valued at approximately $11,311,185.60. 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. The company’s 50 day moving average price is $46.32 and its 200-day moving average price is $45.03. Plexus Corp. has a one year low of $28.72 and a one year high of $49.78. The company has a market cap of $1.66 billion, a P/E ratio of 22.15 and a beta of 1.12.
Plexus Corp. (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.02. The business earned $653.06 million during the quarter, compared to analysts’ expectations of $670.53 million. Plexus Corp. had a return on equity of 9.77% and a net margin of 2.99%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. On average, analysts forecast that Plexus Corp. will post $3.27 EPS for the current fiscal year.
Several analysts have weighed in on the company. Zacks Investment Research downgraded Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. B. Riley reiterated a “neutral” rating and issued a $50.00 price objective on shares of Plexus Corp. in a research report on Tuesday, November 1st. Finally, Needham & Company LLC set a $52.00 price objective on Plexus Corp. and gave the company a “buy” rating in a research report on Friday, September 16th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Plexus Corp. has an average rating of “Hold” and a consensus target price of $49.80.
A number of institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC boosted its position in Plexus Corp. by 85.7% in the third quarter. Acrospire Investment Management LLC now owns 2,600 shares of the company’s stock valued at $122,000 after buying an additional 1,200 shares in the last quarter. PineBridge Investments L.P. boosted its position in Plexus Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 4,229 shares of the company’s stock valued at $183,000 after buying an additional 152 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Plexus Corp. during the third quarter valued at $201,000. Teacher Retirement System of Texas boosted its position in Plexus Corp. by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,678 shares of the company’s stock valued at $202,000 after buying an additional 563 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in Plexus Corp. during the second quarter valued at $209,000. Institutional investors and hedge funds own 94.12% of the company’s stock.
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.
Receive News & Stock Ratings for Plexus Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plexus Corp. and related stocks with our FREE daily email newsletter.