Plexus Corp. (NASDAQ:PLXS) Short Interest Update

Plexus Corp. (NASDAQ:PLXS) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 376,700 shares, a decrease of 27.2% from the September 15th total of 517,400 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 139,600 shares, the short-interest ratio is currently 2.7 days.

Plexus Stock Performance

Shares of NASDAQ:PLXS opened at $136.95 on Friday. Plexus has a twelve month low of $87.21 and a twelve month high of $138.20. The firm has a market cap of $3.75 billion, a PE ratio of 37.83 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 1.47. The business has a fifty day moving average of $127.01 and a 200-day moving average of $113.13.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.17. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The company had revenue of $960.70 million during the quarter, compared to analyst estimates of $981.32 million. During the same period last year, the company posted $1.32 earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, equities research analysts predict that Plexus will post 3.74 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Needham & Company LLC increased their price objective on Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Benchmark increased their price objective on Plexus from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $125.25.

Insider Buying and Selling

In other news, insider Steven J. Frisch sold 6,565 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total value of $841,042.15. Following the completion of the sale, the insider now directly owns 36,118 shares of the company’s stock, valued at approximately $4,627,076.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Todd P. Kelsey sold 3,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.40, for a total value of $385,200.00. Following the completion of the transaction, the chief executive officer now directly owns 93,682 shares of the company’s stock, valued at $12,028,768.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven J. Frisch sold 6,565 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total value of $841,042.15. Following the completion of the transaction, the insider now directly owns 36,118 shares of the company’s stock, valued at approximately $4,627,076.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,769 shares of company stock worth $2,731,834. Insiders own 2.39% of the company’s stock.

Institutional Trading of Plexus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd boosted its holdings in Plexus by 49.9% during the fourth quarter. Quadrature Capital Ltd now owns 21,208 shares of the technology company’s stock worth $2,287,000 after buying an additional 7,057 shares during the last quarter. Congress Asset Management Co. MA boosted its holdings in Plexus by 1.1% during the first quarter. Congress Asset Management Co. MA now owns 16,273 shares of the technology company’s stock worth $1,543,000 after buying an additional 184 shares during the last quarter. Bridge City Capital LLC bought a new position in Plexus during the first quarter worth about $2,149,000. AlphaMark Advisors LLC bought a new position in Plexus during the first quarter worth about $267,000. Finally, Principal Financial Group Inc. boosted its holdings in Plexus by 0.3% during the first quarter. Principal Financial Group Inc. now owns 151,190 shares of the technology company’s stock worth $14,336,000 after buying an additional 387 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

About Plexus

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.