Plexus Corp. (PLXS) Chairman Dean A. Foate Sells 41,000 Shares
Plexus Corp. (NASDAQ:PLXS) Chairman Dean A. Foate sold 41,000 shares of Plexus Corp. stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $51.10, for a total value of $2,095,100.00. Following the completion of the sale, the chairman now owns 251,856 shares in the company, valued at $12,869,841.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Plexus Corp. (NASDAQ:PLXS) opened at 51.39 on Monday. The stock has a 50 day moving average price of $47.32 and a 200 day moving average price of $45.59. Plexus Corp. has a 1-year low of $28.72 and a 1-year high of $51.65. The stock has a market cap of $1.72 billion, a PE ratio of 22.94 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 EPS for the quarter, beating the consensus estimate of $0.80 by $0.02. Plexus Corp. had a return on equity of 9.77% and a net margin of 2.99%. The firm earned $653.06 million during the quarter, compared to analyst estimates of $670.53 million. During the same quarter in the prior year, the business posted $0.69 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts predict that Plexus Corp. will post $3.27 EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of the stock. Phocas Financial Corp. raised its stake in shares of Plexus Corp. by 6.5% in the third quarter. Phocas Financial Corp. now owns 224,964 shares of the company’s stock valued at $10,524,000 after buying an additional 13,716 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Plexus Corp. during the third quarter valued at approximately $379,000. Highbridge Capital Management LLC acquired a new stake in shares of Plexus Corp. during the third quarter valued at approximately $356,000. Gotham Asset Management LLC acquired a new stake in shares of Plexus Corp. during the third quarter valued at approximately $716,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Plexus Corp. during the third quarter valued at approximately $1,050,000. Hedge funds and other institutional investors own 94.67% of the company’s stock.
Several research firms recently weighed in on PLXS. Needham & Company LLC set a $52.00 price target on Plexus Corp. and gave the company a “buy” rating in a research report on Friday, September 16th. Zacks Investment Research upgraded Plexus Corp. from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Monday, October 31st. Finally, B. Riley reiterated a “neutral” rating and set a $50.00 price objective on shares of Plexus Corp. in a research note on Tuesday, November 1st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $49.80.
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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