Patrick John Jermain Sells 4,475 Shares of Plexus Corp. (PLXS) Stock

Plexus Corp. (NASDAQ:PLXS) CFO Patrick John Jermain sold 4,475 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $60.41, for a total transaction of $270,334.75. Following the completion of the sale, the chief financial officer now owns 15,469 shares in the company, valued at $934,482.29. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shares of Plexus Corp. (NASDAQ PLXS) opened at $60.96 on Friday. Plexus Corp. has a 1-year low of $49.06 and a 1-year high of $66.78. The company has a current ratio of 1.90, a quick ratio of 1.08 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2,053.68, a P/E ratio of 19.23 and a beta of 0.87.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, January 17th. The technology company reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.05). Plexus had a negative net margin of 0.57% and a positive return on equity of 11.24%. The firm had revenue of $677.00 million for the quarter, compared to analyst estimates of $685.07 million. During the same quarter in the prior year, the firm earned $0.82 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. analysts forecast that Plexus Corp. will post 3.25 EPS for the current fiscal year.

Plexus declared that its board has authorized a stock buyback plan on Tuesday, February 20th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

A number of research firms recently commented on PLXS. Longbow Research upgraded shares of Plexus from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. BidaskClub lowered shares of Plexus from a “hold” rating to a “sell” rating in a report on Saturday, December 16th. TheStreet lowered shares of Plexus from an “a-” rating to a “c+” rating in a report on Wednesday, January 17th. Zacks Investment Research lowered shares of Plexus from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Finally, ValuEngine upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Plexus currently has a consensus rating of “Hold” and a consensus target price of $59.17.

A number of institutional investors have recently added to or reduced their stakes in PLXS. Franklin Resources Inc. increased its stake in Plexus by 67.3% in the 4th quarter. Franklin Resources Inc. now owns 1,192,000 shares of the technology company’s stock valued at $72,378,000 after buying an additional 479,300 shares during the period. Thrivent Financial For Lutherans increased its stake in Plexus by 99.7% in the 4th quarter. Thrivent Financial For Lutherans now owns 287,611 shares of the technology company’s stock valued at $17,464,000 after buying an additional 143,561 shares during the period. BlackRock Inc. increased its stake in Plexus by 2.6% in the 4th quarter. BlackRock Inc. now owns 4,313,584 shares of the technology company’s stock valued at $261,921,000 after buying an additional 107,433 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in Plexus by 24.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 525,550 shares of the technology company’s stock valued at $29,473,000 after buying an additional 102,575 shares during the period. Finally, Deutsche Bank AG increased its stake in Plexus by 60.6% in the 4th quarter. Deutsche Bank AG now owns 138,411 shares of the technology company’s stock valued at $8,401,000 after buying an additional 52,209 shares during the period. Hedge funds and other institutional investors own 92.66% of the company’s stock.

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About Plexus

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.

Insider Buying and Selling by Quarter for Plexus (NASDAQ:PLXS)

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