Plexus Corp. (NASDAQ:PLXS) Short Interest Update

Plexus Corp. (NASDAQ:PLXS - Get Free Report) was the target of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 376,700 shares, a decrease of 27.2% from the September 15th total of 517,400 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 139,600 shares, the days-to-cover ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

PLXS has been the subject of a number of recent research reports. Needham & Company LLC lifted their price target on shares of Plexus from $114.00 to $144.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Benchmark upped their target price on Plexus from $145.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $125.25.

Plexus Trading Up 2.3 %

Shares of NASDAQ PLXS traded up $3.09 during trading on Friday, hitting $136.95. 82,726 shares of the company traded hands, compared to its average volume of 127,589. Plexus has a 1 year low of $87.21 and a 1 year high of $138.20. The firm has a market capitalization of $3.75 billion, a P/E ratio of 37.83 and a beta of 0.89. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $127.01 and a 200-day moving average price of $113.28.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.45 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.17. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The company had revenue of $960.70 million for the quarter, compared to the consensus estimate of $981.32 million. During the same period last year, the business posted $1.32 EPS. The company's quarterly revenue was down 6.0% compared to the same quarter last year. On average, equities analysts predict that Plexus will post 3.74 EPS for the current year.

Insider Transactions at Plexus

In other Plexus news, Director Karen Marie Rapp sold 500 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $128.02, for a total transaction of $64,010.00. Following the transaction, the director now directly owns 9,586 shares in the company, valued at approximately $1,227,199.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Karen Marie Rapp sold 500 shares of Plexus stock in a transaction on Friday, August 30th. The stock was sold at an average price of $128.02, for a total transaction of $64,010.00. Following the completion of the transaction, the director now owns 9,586 shares of the company's stock, valued at $1,227,199.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Steven J. Frisch sold 6,565 shares of the business's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total transaction of $841,042.15. Following the completion of the sale, the insider now owns 36,118 shares in the company, valued at $4,627,076.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,769 shares of company stock valued at $2,731,834 in the last ninety days. 2.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plexus

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UniSuper Management Pty Ltd purchased a new position in Plexus in the first quarter valued at about $515,000. Quantbot Technologies LP purchased a new stake in shares of Plexus during the first quarter valued at approximately $533,000. Vanguard Group Inc. boosted its stake in shares of Plexus by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company's stock valued at $333,374,000 after purchasing an additional 74,988 shares during the period. Comerica Bank grew its holdings in Plexus by 22.5% during the 1st quarter. Comerica Bank now owns 81,817 shares of the technology company's stock valued at $7,758,000 after purchasing an additional 15,046 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Plexus by 269.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,268 shares of the technology company's stock worth $750,000 after buying an additional 5,303 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Plexus Company Profile

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.