Plexus Corp. (PLXS) Insider Sells $511,900.00 in Stock
Plexus Corp. (NASDAQ:PLXS) insider Yong Jin Lim sold 10,000 shares of Plexus Corp. stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $51.19, for a total value of $511,900.00. Following the sale, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $2,559,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Plexus Corp. (NASDAQ:PLXS) traded down 0.90% on Monday, reaching $50.93. The company had a trading volume of 209,521 shares. The stock’s 50 day moving average is $47.32 and its 200 day moving average is $45.59. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 22.74 and a beta of 1.12. Plexus Corp. has a 52 week low of $28.72 and a 52 week high of $51.74.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings results 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. Plexus Corp. had a return on equity of 9.77% and a net margin of 2.99%. The business 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. Plexus Corp.’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Plexus Corp. will post $3.27 EPS for the current year.
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Large investors have recently modified their holdings of the company. Acrospire Investment Management LLC raised its stake in shares of Plexus Corp. by 85.7% in the third quarter. Acrospire Investment Management LLC now owns 2,600 shares of the company’s stock worth $122,000 after buying an additional 1,200 shares during the last quarter. PineBridge Investments L.P. raised its stake in shares of Plexus Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 4,229 shares of the company’s stock worth $183,000 after buying an additional 152 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Plexus Corp. during the third quarter worth about $201,000. Teacher Retirement System of Texas raised its stake in shares of Plexus Corp. by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 4,678 shares of the company’s stock worth $202,000 after buying an additional 563 shares during the last quarter. Finally, ProShare Advisors LLC bought a new position in Plexus Corp. during the second quarter valued at approximately $209,000. Institutional investors and hedge funds own 94.67% of the company’s stock.
Several brokerages have issued reports on PLXS. B. Riley reaffirmed a “neutral” rating and set a $50.00 price target on shares of Plexus Corp. in a research note on Sunday, August 14th. Needham & Company LLC set a $52.00 price objective on Plexus Corp. and gave the stock a “buy” rating in a report on Friday, September 16th. Finally, Zacks Investment Research upgraded Plexus Corp. from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Monday, October 31st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $49.80.
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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