Plexus Corp. (NASDAQ:PLXS) Director Sells $376,598.48 in Stock

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Plexus Corp. (NASDAQ:PLXS) Director Stephen P. Cortinovis sold 4,996 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $75.38, for a total value of $376,598.48. Following the completion of the sale, the director now owns 27,123 shares in the company, valued at $2,044,531.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Plexus stock opened at $74.94 on Friday. Plexus Corp. has a 1-year low of $47.63 and a 1-year high of $76.44. The stock’s fifty day moving average is $66.27 and its two-hundred day moving average is $59.59. The stock has a market cap of $2.21 billion, a PE ratio of 21.85 and a beta of 0.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.78 and a quick ratio of 0.97.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. Plexus had a return on equity of 12.16% and a net margin of 3.43%. The company had revenue of $810.00 million for the quarter, compared to analyst estimates of $776.02 million. During the same quarter in the previous year, the company earned $0.96 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts expect that Plexus Corp. will post 4.09 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Scout Investments Inc. lifted its position in shares of Plexus by 212.1% during the 2nd quarter. Scout Investments Inc. now owns 104,910 shares of the technology company’s stock valued at $6,124,000 after acquiring an additional 71,296 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Plexus by 1.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 12,386 shares of the technology company’s stock valued at $723,000 after acquiring an additional 200 shares during the period. First Trust Advisors LP acquired a new stake in shares of Plexus during the 2nd quarter valued at approximately $1,746,000. Municipal Employees Retirement System of Michigan lifted its position in shares of Plexus by 48.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 13,480 shares of the technology company’s stock valued at $787,000 after acquiring an additional 4,390 shares during the period. Finally, Tocqueville Asset Management L.P. lifted its position in shares of Plexus by 10.0% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 125,400 shares of the technology company’s stock valued at $7,320,000 after acquiring an additional 11,400 shares during the period. 95.20% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on the company. Zacks Investment Research upgraded Plexus from a “sell” rating to a “hold” rating and set a $60.00 price target on the stock in a research note on Monday, September 2nd. Sidoti cut Plexus from a “buy” rating to a “neutral” rating in a research note on Friday, October 25th. Finally, BidaskClub upgraded Plexus from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 15th.

Plexus Company Profile

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.

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