The Plexus Corp. (PLXS) Chairman Sells $1,010,840.00 in Stock, Report finds

The Plexus Corp. (PLXS) Chairman Sells $1,010,840.00 in Stock, Report finds

Plexus Corp. (NASDAQ:PLXS) opened at 56.26 on Monday. Plexus Corp. has a 12 month low of $35.24 and a 12 month high of $56.53. The stock’s 50 day moving average price is $54.27 and its 200-day moving average price is $49.32. The firm has a market capitalization of $1.90 billion, a P/E ratio of 21.29 and a beta of 1.00.

Plexus Corp. (NASDAQ:PLXS) Chairman Dean A. Foate sold 18,500 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $54.64, for a total value of $1,010,840.00. Following the sale, the chairman now directly owns 246,856 shares of the company’s stock, valued at $13,488,211.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, January 18th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.05. Plexus Corp. had a return on equity of 10.92% and a net margin of 3.50%. The business had revenue of $635 million for the quarter, compared to the consensus estimate of $633.93 million. During the same period in the prior year, the business earned $0.47 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. On average, analysts forecast that Plexus Corp. will post $3.32 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Plexus Corp. by 4.3% in the second quarter. Vanguard Group Inc. now owns 2,809,236 shares of the company’s stock valued at $121,359,000 after buying an additional 115,879 shares during the period. Dimensional Fund Advisors LP increased its position in Plexus Corp. by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,566,517 shares of the company’s stock valued at $138,696,000 after buying an additional 174,101 shares during the period. BlackRock Fund Advisors increased its position in Plexus Corp. by 8.4% in the third quarter. BlackRock Fund Advisors now owns 2,381,760 shares of the company’s stock valued at $111,419,000 after buying an additional 184,109 shares during the period. Northern Trust Corp increased its position in Plexus Corp. by 0.7% in the third quarter. Northern Trust Corp now owns 1,016,005 shares of the company’s stock valued at $47,529,000 after buying an additional 7,503 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in Plexus Corp. by 1.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 860,324 shares of the company’s stock valued at $40,246,000 after buying an additional 16,094 shares during the period. Hedge funds and other institutional investors own 94.79% of the company’s stock.

Several equities analysts have weighed in on the company. Zacks Investment Research downgraded Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Monday, January 23rd. Royal Bank Of Canada lifted their target price on Plexus Corp. from $54.00 to $57.00 and gave the company a “sector perform” rating in a research report on Friday, January 20th. RBC Capital Markets lifted their target price on Plexus Corp. from $54.00 to $57.00 and gave the company a “sector perform” rating in a research report on Thursday, January 19th. Needham & Company LLC reaffirmed a “positive” rating and issued a $52.00 target price on shares of Plexus Corp. in a research report on Thursday, January 19th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Plexus Corp. in a research report on Wednesday, January 18th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $54.33.

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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