Short Interest in Plexus Corp. (PLXS) Drops By 29.4%
Plexus Corp. (NASDAQ:PLXS) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 534,522 shares, a decrease of 29.4% from the October 31st total of 757,014 shares. Based on an average daily trading volume, of 184,691 shares, the short-interest ratio is presently 2.9 days. Currently, 1.6% of the shares of the stock are short sold.
In related news, Chairman Dean A. Foate sold 7,995 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $46.76, for a total value of $373,846.20. Following the completion of the transaction, the chairman now owns 241,692 shares of the company’s stock, valued at approximately $11,301,517.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd P. Kelsey sold 17,750 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $49.92, for a total transaction of $886,080.00. Following the completion of the transaction, the chief executive officer now directly owns 45,162 shares of the company’s stock, valued at approximately $2,254,487.04. The disclosure for this sale can be found here. 5.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Plexus Corp. by 4.3% in the second quarter. Vanguard Group Inc. now owns 2,809,236 shares of the company’s stock worth $121,359,000 after buying an additional 115,879 shares during the last quarter. 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 during the last quarter. 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 during the last quarter. Northern Trust Corp raised its position in Plexus Corp. by 0.7% in the third quarter. Northern Trust Corp now owns 1,016,005 shares of the company’s stock worth $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 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 worth $40,246,000 after buying an additional 16,094 shares during the last quarter. Hedge funds and other institutional investors own 94.67% of the company’s stock.
A number of analysts recently weighed in on PLXS shares. Zacks Investment Research lowered shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Needham & Company LLC set a $52.00 price objective on shares of Plexus Corp. and gave the stock a “buy” rating in a research report on Friday, September 16th. Finally, B. Riley reissued a “neutral” rating and issued a $50.00 price objective on shares of Plexus Corp. in a research report 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 stock. Plexus Corp. has an average rating of “Hold” and an average price target of $49.80.
Plexus Corp. (NASDAQ:PLXS) opened at 50.70 on Wednesday. The stock’s 50 day moving average is $47.44 and its 200-day moving average is $45.70. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 22.63 and a beta of 1.12. Plexus Corp. has a 12 month low of $28.72 and a 12 month high of $51.75.
Plexus Corp. (NASDAQ:PLXS) last released its earnings results on Wednesday, October 26th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates 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 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 quarter in the previous year, the company earned $0.69 earnings per share. On average, equities research analysts expect that Plexus Corp. will post $3.27 earnings per share for the current year.
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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