Plexus Corp. (PLXS) Short Interest Up 33.2% in September
Plexus Corp. (NASDAQ:PLXS) was the recipient of a large increase in short interest in September. As of September 29th, there was short interest totalling 944,532 shares, an increase of 33.2% from the September 15th total of 709,233 shares. Approximately 2.9% of the company’s stock are sold short. Based on an average daily trading volume, of 174,122 shares, the short-interest ratio is currently 5.4 days.
Plexus Corp. (PLXS) opened at 58.65 on Friday. The company has a 50-day moving average of $54.66 and a 200-day moving average of $53.36. The company has a market cap of $1.97 billion, a PE ratio of 19.80 and a beta of 0.95. Plexus Corp. has a 52 week low of $44.35 and a 52 week high of $59.55.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. Plexus Corp. had a return on equity of 10.76% and a net margin of 4.07%. The company had revenue of $618.80 million for the quarter, compared to the consensus estimate of $608.95 million. During the same quarter last year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, equities analysts expect that Plexus Corp. will post $3.22 EPS for the current year.
In other news, insider Oliver K. Mihm sold 2,749 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $54.87, for a total transaction of $150,837.63. Following the sale, the insider now owns 6,223 shares in the company, valued at approximately $341,456.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ralf R. Boer sold 1,374 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $50.00, for a total transaction of $68,700.00. Following the sale, the director now owns 23,124 shares in the company, valued at approximately $1,156,200. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,180 shares of company stock worth $4,840,872. Company insiders own 4.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PLXS. First Trust Advisors LP boosted its holdings in Plexus Corp. by 27.0% in the first quarter. First Trust Advisors LP now owns 34,533 shares of the technology company’s stock worth $1,996,000 after acquiring an additional 7,333 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Plexus Corp. by 53.8% in the first quarter. UBS Asset Management Americas Inc. now owns 24,805 shares of the technology company’s stock worth $1,434,000 after acquiring an additional 8,672 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Plexus Corp. in the first quarter worth about $737,000. Parametric Portfolio Associates LLC boosted its holdings in Plexus Corp. by 9.0% in the first quarter. Parametric Portfolio Associates LLC now owns 105,698 shares of the technology company’s stock worth $6,109,000 after acquiring an additional 8,761 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in Plexus Corp. in the first quarter worth about $166,000. 93.93% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on PLXS shares. ValuEngine cut shares of Plexus Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Stifel Nicolaus restated a “hold” rating and set a $54.00 target price (up previously from $50.00) on shares of Plexus Corp. in a report on Friday, July 21st. 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 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 report on Friday, July 21st. Finally, Zacks Investment Research cut shares of Plexus Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $57.00.
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Plexus Corp. Company Profile
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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