Plexus Corp. (NASDAQ:PLXS) Short Interest Up 33.2% in September

Plexus Corp. (NASDAQ:PLXS) was the target of a significant 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. Based on an average daily volume of 174,122 shares, the days-to-cover ratio is currently 5.4 days. Currently, 2.9% of the company’s shares are short sold.

In other news, Director Ralf R. Boer sold 1,374 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $50.00, for a total transaction of $68,700.00. Following the completion of the sale, the director now owns 23,124 shares in the company, valued at $1,156,200. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 10,350 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $49.46, for a total value of $511,911.00. Following the sale, the chief accounting officer now owns 17,009 shares of the company’s stock, valued at approximately $841,265.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,474 shares of company stock valued at $1,012,686. 4.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the business. Neuberger Berman Group LLC increased its holdings in shares of Plexus Corp. by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after purchasing an additional 31 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Plexus Corp. by 1.4% in the 2nd quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock worth $241,000 after purchasing an additional 65 shares in the last quarter. Suntrust Banks Inc. increased its holdings in shares of Plexus Corp. by 1.3% in the 2nd quarter. Suntrust Banks Inc. now owns 5,440 shares of the technology company’s stock worth $285,000 after purchasing an additional 69 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Plexus Corp. by 1.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,228 shares of the technology company’s stock worth $328,000 after purchasing an additional 92 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its holdings in shares of Plexus Corp. by 1.2% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 12,950 shares of the technology company’s stock worth $749,000 after purchasing an additional 150 shares in the last quarter. 93.38% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on the company. J P Morgan Chase & Co upgraded Plexus Corp. from a “neutral” rating to an “overweight” rating and set a $62.00 price objective for the company in a report on Monday, August 28th. BidaskClub cut Plexus Corp. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Stifel Nicolaus reaffirmed a “hold” rating and set a $54.00 target price on shares of Plexus Corp. in a research report on Tuesday, September 12th. ValuEngine raised Plexus Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Finally, Citigroup Inc. lifted their target price on Plexus Corp. from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.86.

Plexus Corp. (NASDAQ:PLXS) opened at 62.47 on Friday. The stock has a market cap of $2.10 billion, a PE ratio of 21.09 and a beta of 0.95. The firm has a 50-day moving average price of $56.14 and a 200 day moving average price of $53.39. Plexus Corp. has a 52-week low of $44.43 and a 52-week high of $62.56.

Plexus Corp. (NASDAQ:PLXS) last posted its quarterly earnings data 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. The company had revenue of $670.00 million during the quarter, compared to analyst estimates of $676.23 million. Plexus Corp. had a return on equity of 11.48% and a net margin of 4.43%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. On average, analysts forecast that Plexus Corp. will post $3.22 earnings per share for the current fiscal year.

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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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