Plexus Corp. (PLXS) Director Sells $68,700.00 in Stock
Plexus Corp. (NASDAQ:PLXS) Director Ralf R. Boer sold 1,374 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $50.00, for a total value of $68,700.00. Following the sale, the director now directly owns 23,124 shares in the company, valued at $1,156,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Plexus Corp. (NASDAQ:PLXS) opened at 50.17 on Monday. The stock has a market capitalization of $1.69 billion, a PE ratio of 16.94 and a beta of 0.93. The firm has a 50-day moving average price of $52.28 and a 200 day moving average price of $53.83. Plexus Corp. has a 12 month low of $44.35 and a 12 month high of $58.74.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The firm had revenue of $618.80 million for the quarter, compared to analysts’ expectations of $608.95 million. Plexus Corp. had a return on equity of 10.76% and a net margin of 4.07%. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. Equities analysts anticipate that Plexus Corp. will post $3.22 earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of the stock. Riverhead Capital Management LLC raised its stake in shares of Plexus Corp. by 69.0% in the second quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock worth $124,000 after buying an additional 966 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Plexus Corp. during the first quarter worth $166,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Plexus Corp. during the first quarter worth $200,000. Neuberger Berman Group LLC raised its stake in shares of Plexus Corp. by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after buying an additional 31 shares in the last quarter. Finally, Appleton Group LLC acquired a new stake in shares of Plexus Corp. during the first quarter worth $211,000. Hedge funds and other institutional investors own 94.51% of the company’s stock.
Several research firms recently commented on PLXS. J P Morgan Chase & Co raised Plexus Corp. from a “neutral” rating to an “overweight” rating in a research report on Monday. BidaskClub cut Plexus Corp. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Zacks Investment Research cut Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Citigroup Inc. increased their price objective on Plexus Corp. from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Finally, Deutsche Bank AG increased their price objective on Plexus Corp. from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $58.25.
Plexus Corp. Company Profile
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company 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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