Dean A. Foate Sells 33,750 Shares of Plexus Corp. (PLXS) Stock

Plexus Corp. (NASDAQ:PLXS) Chairman Dean A. Foate sold 33,750 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $61.22, for a total value of $2,066,175.00. Following the sale, the chairman now owns 303,920 shares in the company, valued at approximately $18,605,982.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Plexus Corp. (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.84 EPS for the quarter, beating the 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 business had revenue of $670.00 million for the quarter, compared to analysts’ expectations of $676.23 million. During the same period in the previous year, the company posted $0.82 EPS. Plexus Corp.’s revenue was up 2.6% on a year-over-year basis.

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Institutional investors have recently bought and sold shares of the company. Riverhead Capital Management LLC grew its holdings in shares of Plexus Corp. by 69.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock valued at $124,000 after acquiring an additional 966 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Plexus Corp. during the 1st quarter valued at $200,000. SG Americas Securities LLC grew its holdings in shares of Plexus Corp. by 20.0% during the 1st quarter. SG Americas Securities LLC now owns 3,655 shares of the technology company’s stock valued at $211,000 after acquiring an additional 609 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Plexus Corp. by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock valued at $202,000 after acquiring an additional 31 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Plexus Corp. by 1.4% during the 2nd quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock valued at $241,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 94.06% of the company’s stock.

PLXS has been the topic of several analyst reports. Citigroup Inc. raised their price objective on Plexus Corp. from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Stifel Nicolaus restated a “hold” rating and set a $54.00 price objective on shares of Plexus Corp. in a report on Tuesday, September 12th. J P Morgan Chase & Co cut Plexus Corp. from an “overweight” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a report on Tuesday, October 10th. ValuEngine upgraded Plexus Corp. from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. Finally, Zacks Investment Research cut Plexus Corp. from a “hold” rating to a “sell” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Plexus Corp. has a consensus rating of “Hold” and an average target price 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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