Insider Selling: Plexus Corp. (PLXS) CAO Sells 16,000 Shares of Stock
Plexus Corp. (NASDAQ:PLXS) CAO Angelo Michael Ninivaggi, Jr. sold 16,000 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $61.58, for a total transaction of $985,280.00. Following the completion of the transaction, the chief accounting officer now owns 18,159 shares of the company’s stock, valued at approximately $1,118,231.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.02. Plexus Corp. had a net margin of 4.43% and a return on equity of 11.48%. The company had revenue of $670.00 million during the quarter, compared to the consensus estimate of $676.23 million. During the same period in the prior year, the company earned $0.82 EPS. Plexus Corp.’s revenue was up 2.6% on a year-over-year basis.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. IndexIQ Advisors LLC lifted its holdings in Plexus Corp. by 83.2% in the 3rd quarter. IndexIQ Advisors LLC now owns 14,997 shares of the technology company’s stock valued at $841,000 after acquiring an additional 6,813 shares during the last quarter. American Century Companies Inc. lifted its holdings in Plexus Corp. by 2.9% in the 3rd quarter. American Century Companies Inc. now owns 158,213 shares of the technology company’s stock valued at $8,873,000 after acquiring an additional 4,497 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Plexus Corp. in the 3rd quarter valued at about $473,000. North Star Asset Management Inc. lifted its holdings in Plexus Corp. by 20.5% in the 3rd quarter. North Star Asset Management Inc. now owns 8,831 shares of the technology company’s stock valued at $510,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Plexus Corp. by 24.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 525,550 shares of the technology company’s stock valued at $29,473,000 after acquiring an additional 102,575 shares during the last quarter. 94.06% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on PLXS shares. BidaskClub downgraded shares of Plexus Corp. from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Deutsche Bank AG increased their price target 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. Stifel Nicolaus reiterated a “hold” rating and issued a $54.00 price target (up previously from $50.00) on shares of Plexus Corp. in a report on Friday, July 21st. Citigroup Inc. increased their price target on shares of Plexus Corp. from $59.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Finally, Zacks Investment Research downgraded shares of Plexus Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.86.
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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