Dean A. Foate Sells 31,548 Shares of Plexus Corp. (PLXS) Stock
Plexus Corp. (NASDAQ:PLXS) Chairman Dean A. Foate sold 31,548 shares of Plexus Corp. stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $49.08, for a total transaction of $1,548,375.84. Following the completion of the sale, the chairman now owns 246,606 shares of the company’s stock, valued at $12,103,422.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Plexus Corp. (NASDAQ:PLXS) opened at 49.49 on Wednesday. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 22.09 and a beta of 1.12. Plexus Corp. has a 52-week low of $28.72 and a 52-week high of $50.90. The firm has a 50 day moving average of $46.49 and a 200-day moving average of $45.18.
Plexus Corp. (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.02. The business earned $653.06 million during the quarter, compared to analyst estimates of $670.53 million. Plexus Corp. had a net margin of 2.99% and a return on equity of 9.77%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. Equities analysts expect that Plexus Corp. will post $3.27 EPS for the current year.
A number of analysts have recently commented on the stock. B. Riley reiterated a “neutral” rating and issued a $50.00 price target on shares of Plexus Corp. in a research note on Tuesday, November 1st. Zacks Investment Research upgraded shares of Plexus Corp. from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Friday, July 22nd. Finally, Needham & Company LLC boosted their target price on shares of Plexus Corp. from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, July 22nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $49.80.
Several hedge funds have recently added to or reduced their stakes in PLXS. Vanguard Group Inc. raised its stake in Plexus Corp. by 4.3% in the second quarter. Vanguard Group Inc. now owns 2,809,236 shares of the company’s stock valued at $121,359,000 after buying an additional 115,879 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Plexus Corp. by 8.4% in the third quarter. BlackRock Fund Advisors now owns 2,381,760 shares of the company’s stock valued at $111,419,000 after buying an additional 184,109 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Plexus Corp. by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,261,023 shares of the company’s stock valued at $97,675,000 after buying an additional 223,933 shares during the last quarter. Northern Trust Corp raised its position in shares of Plexus Corp. by 0.7% in the third quarter. Northern Trust Corp now owns 1,016,005 shares of the company’s stock valued at $47,529,000 after buying an additional 7,503 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Plexus Corp. by 1.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 860,324 shares of the company’s stock valued at $40,246,000 after buying an additional 16,094 shares during the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.
Plexus Corp. Company Profile
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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