Plexus Corp. (NASDAQ:PLXS) Chairman Sells $430,416.00 in Stock

Plexus Corp. (NASDAQ:PLXS) Chairman Dean A. Foate sold 6,832 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $63.00, for a total transaction of $430,416.00. Following the completion of the sale, the chairman now directly owns 227,921 shares in the company, valued at $14,359,023. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of NASDAQ:PLXS traded up $0.46 during midday trading on Thursday, reaching $64.98. The company’s stock had a trading volume of 127,726 shares, compared to its average volume of 167,758. The firm has a 50 day moving average of $58.14 and a 200-day moving average of $58.51. The firm has a market capitalization of $1.81 billion, a P/E ratio of 20.11 and a beta of 0.97. The company has a quick ratio of 0.91, a current ratio of 1.78 and a debt-to-equity ratio of 0.22. Plexus Corp. has a 12-month low of $47.63 and a 12-month high of $66.98.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, July 17th. The technology company reported $0.81 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.81. The firm had revenue of $799.64 million for the quarter, compared to the consensus estimate of $783.30 million. Plexus had a net margin of 4.62% and a return on equity of 12.40%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 EPS. On average, research analysts predict that Plexus Corp. will post 3.37 EPS for the current year.

A number of analysts have recently weighed in on the stock. Sidoti set a $72.00 target price on shares of Plexus and gave the stock a “buy” rating in a research report on Friday, June 14th. Zacks Investment Research raised shares of Plexus from a “sell” rating to a “hold” rating and set a $60.00 target price on the stock in a research report on Monday, September 2nd. Finally, BidaskClub downgraded shares of Plexus from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Plexus currently has a consensus rating of “Buy” and an average target price of $68.00.

Several large investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its position in 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 purchasing an additional 200 shares during the last quarter. Piedmont Investment Advisors Inc. grew its position in Plexus by 4.0% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 7,784 shares of the technology company’s stock valued at $474,000 after purchasing an additional 301 shares during the last quarter. Texas Permanent School Fund grew its position in Plexus by 1.9% during the 1st quarter. Texas Permanent School Fund now owns 20,990 shares of the technology company’s stock valued at $1,279,000 after purchasing an additional 399 shares during the last quarter. Swiss National Bank grew its position in Plexus by 0.9% during the 2nd quarter. Swiss National Bank now owns 57,500 shares of the technology company’s stock valued at $3,356,000 after purchasing an additional 500 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Plexus by 0.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 63,220 shares of the technology company’s stock valued at $3,690,000 after acquiring an additional 560 shares during the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

About Plexus

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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