Short Interest in Plexus Corp. (NASDAQ:PLXS) Increases By 29.6%

Plexus Corp. (NASDAQ:PLXS) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 424,300 shares, an increase of 29.6% from the August 15th total of 327,500 shares. Based on an average daily trading volume, of 142,900 shares, the short-interest ratio is currently 3.0 days. Currently, 1.6% of the company’s stock are short sold.

Insider Buying and Selling

In related news, CEO Todd P. Kelsey sold 1,656 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total transaction of $190,440.00. Following the sale, the chief executive officer now directly owns 96,682 shares of the company’s stock, valued at approximately $11,118,430. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Plexus news, CEO Todd P. Kelsey sold 1,656 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total transaction of $190,440.00. Following the completion of the transaction, the chief executive officer now owns 96,682 shares in the company, valued at approximately $11,118,430. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $128.40, for a total transaction of $385,200.00. Following the transaction, the chief executive officer now owns 93,682 shares of the company’s stock, valued at approximately $12,028,768.80. 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. Company insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On Plexus

Large investors have recently bought and sold shares of the company. Parallel Advisors LLC raised its position in Plexus by 72.3% during the 4th quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock worth $38,000 after buying an additional 146 shares during the last quarter. Quest Partners LLC raised its position in Plexus by 36,700.0% during the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after buying an additional 367 shares during the last quarter. Innealta Capital LLC purchased a new position in Plexus during the 2nd quarter worth $51,000. EntryPoint Capital LLC raised its position in Plexus by 56.2% during the 1st quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock worth $93,000 after buying an additional 351 shares during the last quarter. Finally, Signaturefd LLC raised its position in Plexus by 12.0% during the 2nd quarter. Signaturefd LLC now owns 1,705 shares of the technology company’s stock worth $176,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Stock Up 0.3 %

Shares of Plexus stock traded up $0.42 during trading hours on Monday, hitting $126.63. The company had a trading volume of 161,810 shares, compared to its average volume of 125,745. The company’s 50-day moving average is $120.64 and its two-hundred day moving average is $107.77. Plexus has a twelve month low of $87.21 and a twelve month high of $132.46. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 0.64. The company has a market cap of $3.47 billion, a P/E ratio of 34.98 and a beta of 0.89.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.17. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The business had revenue of $960.70 million during the quarter, compared to analysts’ expectations of $981.32 million. During the same quarter in the prior year, the business posted $1.32 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Analysts anticipate that Plexus will post 3.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on PLXS shares. Benchmark boosted their price target on shares of Plexus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Needham & Company LLC upped their target price on shares of Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $124.00.

About Plexus

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.