Plexus Corp. (NASDAQ:PLXS) Sees Large Decrease in Short Interest
Plexus Corp. (NASDAQ:PLXS – Get Free Report) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 395,000 shares, a decline of 21.3% from the November 15th total of 502,200 shares. Approximately 1.5% of the company’s shares are sold short. Based on an average trading volume of 119,600 shares, the days-to-cover ratio is currently 3.3 days.
Insiders Place Their Bets
In other news, CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $97.88, for a total transaction of $195,760.00. Following the transaction, the chief executive officer now owns 107,885 shares of the company’s stock, valued at $10,559,783.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 8,000 shares of company stock valued at $793,280 over the last ninety days. 2.05% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. LPL Financial LLC grew its stake in shares of Plexus by 2.2% during the 2nd quarter. LPL Financial LLC now owns 16,636 shares of the technology company’s stock valued at $1,634,000 after buying an additional 365 shares during the period. William Blair Investment Management LLC grew its position in shares of Plexus by 0.3% during the 1st quarter. William Blair Investment Management LLC now owns 240,862 shares of the technology company’s stock valued at $23,501,000 after buying an additional 821 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Plexus in the 2nd quarter worth about $2,380,000. Inspire Investing LLC grew its position in Plexus by 13.0% in the 2nd quarter. Inspire Investing LLC now owns 3,209 shares of the technology company’s stock worth $315,000 after purchasing an additional 369 shares during the last quarter. Finally, Integrated Investment Consultants LLC bought a new position in Plexus in the 2nd quarter worth about $367,000. 92.91% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
PLXS has been the subject of several analyst reports. Needham & Company LLC increased their price objective on Plexus from $107.00 to $113.00 and gave the company a “buy” rating in a report on Friday, October 27th. StockNews.com began coverage on Plexus in a research report on Thursday, October 5th. They set a “hold” rating on the stock.
View Our Latest Report on PLXS
Plexus Price Performance
PLXS stock opened at $109.01 on Friday. The company has a market capitalization of $2.99 billion, a PE ratio of 22.07 and a beta of 1.09. The company has a current ratio of 1.47, a quick ratio of 0.61 and a debt-to-equity ratio of 0.16. Plexus has a 12-month low of $83.84 and a 12-month high of $115.36. The business’s fifty day moving average price is $99.34 and its 200 day moving average price is $97.28.
Plexus (NASDAQ:PLXS – Get Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The technology company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.18. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Plexus had a return on equity of 13.56% and a net margin of 3.30%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period last year, the firm earned $1.78 EPS. On average, sell-side analysts anticipate that Plexus will post 5.84 EPS for the current year.
About Plexus (Get Free Report)
Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.
Further Reading
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Original: MarketBeat News Feed: Plexus Corp. (NASDAQ:PLXS) Sees Large Decrease in Short Interest