Plexus Corp. (PLXS) Short Interest Update
Plexus Corp. (NASDAQ:PLXS) saw a significant growth in short interest in the month of September. As of September 29th, there was short interest totalling 944,532 shares, a growth of 33.2% from the September 15th total of 709,233 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average daily volume of 174,122 shares, the short-interest ratio is presently 5.4 days.
PLXS has been the topic of a number of analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $54.00 target price on shares of Plexus Corp. in a research note on Tuesday, September 12th. Citigroup Inc. boosted their price target on shares of Plexus Corp. from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. J P Morgan Chase & Co downgraded shares of Plexus Corp. from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research note on Tuesday, October 10th. ValuEngine raised shares of Plexus Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Finally, BidaskClub downgraded shares of Plexus Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Plexus Corp. presently has an average rating of “Hold” and an average target price of $57.00.
Plexus Corp. (PLXS) opened at 59.05 on Thursday. Plexus Corp. has a one year low of $44.35 and a one year high of $59.55. The company has a 50 day moving average of $55.34 and a 200-day moving average of $53.35. The firm has a market cap of $1.98 billion, a PE ratio of 19.94 and a beta of 0.95.
Plexus Corp. (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The firm had revenue of $618.80 million for the quarter, compared to analyst estimates of $608.95 million. During the same quarter last year, the firm posted $0.82 earnings per share. Plexus Corp.’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, equities research analysts predict that Plexus Corp. will post $3.22 earnings per share for the current year.
In other Plexus Corp. news, CAO Angelo Michael Ninivaggi, Jr. sold 8,750 shares of Plexus Corp. stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $49.38, for a total transaction of $432,075.00. Following the transaction, the chief accounting officer now directly owns 17,009 shares of the company’s stock, valued at $839,904.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd P. Kelsey sold 11,250 shares of Plexus Corp. stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $55.09, for a total transaction of $619,762.50. Following the transaction, the chief executive officer now directly owns 57,175 shares in the company, valued at $3,149,770.75. The disclosure for this sale can be found here. Insiders have sold 86,131 shares of company stock worth $4,620,095 over the last ninety days. 4.30% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverhead Capital Management LLC raised its holdings in Plexus Corp. by 69.0% in the second quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock valued at $124,000 after buying an additional 966 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Plexus Corp. in the first quarter valued at approximately $166,000. Cambridge Investment Research Advisors Inc. purchased a new position in Plexus Corp. in the first quarter valued at approximately $200,000. Neuberger Berman Group LLC raised its holdings in Plexus Corp. by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock valued at $202,000 after buying an additional 31 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Plexus Corp. by 20.0% in the first quarter. SG Americas Securities LLC now owns 3,655 shares of the technology company’s stock valued at $211,000 after buying an additional 609 shares during the period. Hedge funds and other institutional investors own 93.47% of the company’s stock.
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About Plexus Corp.
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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