Plexus Corp. (PLXS) Shares Gap Up to $44.21
Plexus Corp. (NASDAQ:PLXS) gapped up prior to trading on Tuesday . The stock had previously closed at $43.92, but opened at $44.21. Plexus Corp. shares last traded at $45.12, with a volume of 70,843 shares trading hands.
A number of equities research analysts recently issued reports on PLXS shares. Needham & Company LLC lifted their target price on Plexus Corp. to $50.00 in a research report on Thursday, June 9th. B. Riley restated a “buy” rating and issued a $50.00 price target on shares of Plexus Corp. in a research note on Wednesday, April 27th. Finally, Zacks Investment Research upgraded Plexus Corp. from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Monday, April 25th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $46.38.
The company has a 50-day moving average of $43.70 and a 200 day moving average of $38.99. The firm has a market capitalization of $1.50 billion and a P/E ratio of 19.55.
Plexus Corp. (NASDAQ:PLXS) last announced its earnings results on Wednesday, April 20th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. The business had revenue of $618.70 million for the quarter, compared to the consensus estimate of $615.69 million. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. Analysts anticipate that Plexus Corp. will post $2.58 earnings per share for the current fiscal year.
In related news, VP Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $42.17, for a total transaction of $84,340.00. Following the transaction, the vice president now directly owns 44,162 shares of the company’s stock, valued at approximately $1,862,311.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Dean A. Foate sold 28,149 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $44.42, for a total value of $1,250,378.58. Following the transaction, the chief executive officer now directly owns 195,907 shares in the company, valued at $8,702,188.94. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently bought and sold shares of PLXS. Jennison Associates LLC increased its position in Plexus Corp. by 58.7% in the fourth quarter. Jennison Associates LLC now owns 47,053 shares of the company’s stock worth $1,643,000 after buying an additional 17,410 shares during the period. Dean Investment Associates LLC increased its position in Plexus Corp. by 19.5% in the fourth quarter. Dean Investment Associates LLC now owns 137,700 shares of the company’s stock worth $4,808,000 after buying an additional 22,485 shares during the period. Principal Financial Group Inc. increased its position in Plexus Corp. by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 228,261 shares of the company’s stock worth $7,971,000 after buying an additional 10,014 shares during the period. Wells Fargo & Company MN increased its position in Plexus Corp. by 0.7% in the fourth quarter. Wells Fargo & Company MN now owns 259,983 shares of the company’s stock worth $9,079,000 after buying an additional 1,897 shares during the period. Finally, Bank of Montreal Can increased its position in Plexus Corp. by 26,508.9% in the fourth quarter. Bank of Montreal Can now owns 89,938 shares of the company’s stock worth $3,141,000 after buying an additional 89,600 shares during the period.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus 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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