Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 11,250 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $55.09, for a total transaction of $619,762.50. Following the transaction, the chief executive officer now owns 57,175 shares in the company, valued at approximately $3,149,770.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Plexus Corp. (NASDAQ PLXS) opened at 51.02 on Thursday. The firm has a market cap of $1.71 billion, a P/E ratio of 17.22 and a beta of 0.93. The firm’s 50-day moving average is $52.79 and its 200 day moving average is $54.04. 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 earnings results on Wednesday, July 19th. The technology company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. Plexus Corp. had a return on equity of 10.76% and a net margin of 4.07%. The business had revenue of $618.80 million during the quarter, compared to analyst estimates of $608.95 million. During the same quarter in the previous year, the firm earned $0.82 EPS. Plexus Corp.’s revenue was down 7.3% on a year-over-year basis. Equities analysts forecast that Plexus Corp. will post $3.22 earnings per share for the current year.
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A number of research firms recently issued reports on PLXS. Stifel Nicolaus reiterated a “hold” rating and set a $54.00 target price (up previously from $50.00) on shares of Plexus Corp. in a research report on Friday, July 21st. Zacks Investment Research downgraded shares of Plexus Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Deutsche Bank AG boosted their target price on shares of Plexus Corp. from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Friday, July 21st. Citigroup Inc. boosted their target price on shares of Plexus Corp. from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Finally, ValuEngine downgraded shares of Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $58.25.
A number of institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its position in shares of Plexus Corp. by 2.7% in the second quarter. Public Employees Retirement System of Ohio now owns 274,414 shares of the technology company’s stock worth $14,426,000 after buying an additional 7,238 shares during the period. Disciplined Growth Investors Inc. MN increased its stake in Plexus Corp. by 0.5% in the second quarter. Disciplined Growth Investors Inc. MN now owns 3,038,867 shares of the technology company’s stock worth $159,753,000 after buying an additional 16,329 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Plexus Corp. during the second quarter worth about $263,000. Piedmont Investment Advisors LLC purchased a new stake in Plexus Corp. during the second quarter worth about $383,000. Finally, Dean Capital Management increased its stake in Plexus Corp. by 151.0% in the second quarter. Dean Capital Management now owns 71,165 shares of the technology company’s stock worth $3,741,000 after buying an additional 42,810 shares in the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.
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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