November 25, 2016 - By Peter Kolinski
As reported in an electronic form which was filled with the SEC on 25/11/2016, Dean Foate, director of Plexus Corp and a person familiar with the company, unloaded 41,000 shares of the company for an aggregate amount of $2,095,019 USD which is based on a market stock price per share of $51.1. This is not his first insider trade, in the last month, he sold another 93,831 shares worth $4,531,754 USD. Having been a very sizable stock deal at Plexus Corp, the chance that it stays unnoticed for long was obviously very low. Dean Foate currently holds 231,356 shares which are roughly 0.69% of the Wisconsin-Company’s market cap.
Out of 7 analysts covering Plexus (NASDAQ:PLXS), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. $52 is the highest target while $41 is the lowest. The $47.67 average target is -7.24% below today’s ($51.39) stock price. Plexus has been the topic of 9 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The rating was downgraded by B. Riley & Co on Friday, July 22 to “Neutral”. The firm has “Strong Buy” rating given on Friday, July 24 by Needham. Goldman Sachs upgraded the shares of PLXS in a report on Monday, August 3 to “Buy” rating. The rating was downgraded by Goldman Sachs to “Neutral” on Friday, October 23. The rating was maintained by Deutsche Bank with “Hold” on Monday, September 7. The firm earned “Buy” rating on Friday, July 22 by Needham. The firm earned “Neutral” rating on Thursday, June 9 by Citigroup. The rating was downgraded by Numis Securities to “Add” on Wednesday, November 18. The rating was maintained by RBC Capital Markets with “Sector Perform” on Tuesday, October 13.
Insitutional Activity: The institutional sentiment decreased to 1.44 in 2016 Q2. Its down 0.03, from 1.47 in 2016Q1. The ratio fall, as 12 funds sold all Plexus Corp. shares owned while 50 reduced positions. 33 funds bought stakes while 58 increased positions. They now own 30.51 million shares or 5.13% more from 29.02 million shares in 2016Q1.
Springbok Capital Mngmt reported 900 shares or 0.01% of all its holdings. Barrow Hanley Mewhinney & Strauss holds 0.12% of its portfolio in Plexus Corp. (NASDAQ:PLXS) for 1.87 million shares. Northern accumulated 0.01% or 1.01 million shares. Dreman Value L L C, a Florida-based fund reported 218 shares. Blackrock Invest Mngmt Ltd Co reported 160,325 shares or 0.01% of all its holdings. Employees Retirement Of Texas holds 0.03% or 52,000 shares in its portfolio. Moreover, Great Lakes Advisors Llc has 0.05% invested in Plexus Corp. (NASDAQ:PLXS) for 45,203 shares. The United Kingdom-based Legal And General Gp Public Limited Liability Corp has invested 0% in Plexus Corp. (NASDAQ:PLXS). Vanguard Gp Inc last reported 2.81 million shares in the company. Keybank Association Oh last reported 0.01% of its portfolio in the stock. Jennison Associate Ltd Limited Liability Company last reported 0% of its portfolio in the stock. Aperio Gru Ltd Liability Com accumulated 0% or 6,267 shares. Parametric Portfolio Associate Lc, a Washington-based fund reported 107,719 shares. Bessemer Gp has 0% invested in the company for 800 shares. Ls Investment Advsrs Limited Liability Com has 1,182 shares for 0% of their US portfolio.
Insider Transactions: Since June 2, 2016, the stock had 0 insider buys, and 24 insider sales for $13.73 million net activity. FOATE DEAN A sold $2.22 million worth of Plexus Corp. (NASDAQ:PLXS) on Monday, August 8. 11,000 shares were sold by Kelsey Todd P., worth $487,560 on Monday, June 6. 5,000 Plexus Corp. (NASDAQ:PLXS) shares with value of $232,460 were sold by Lim Yong Jin. MARTENS PHILIP R had sold 12,624 shares worth $626,462 on Tuesday, November 15. 4,084 Plexus Corp. (NASDAQ:PLXS) shares with value of $188,475 were sold by Frisch Steven J. 1,500 shares were sold by Ninivaggi Angelo Michael Jr, worth $69,162. Another trade for 4,000 shares valued at $203,200 was made by KELLY PETER on Friday, November 18.
The stock increased 0.21% or $0.11 during the last trading session, hitting $51.39. About 65,627 shares traded hands. Plexus Corp. (NASDAQ:PLXS) has risen 21.98% since April 22, 2016 and is uptrending. It has outperformed by 16.57% the S&P500.
Plexus Corp. and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The company has a market cap of $1.72 billion. Plexus delivers end-to-end solutions for clients in the Americas (AMER); Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC) regions. It has a 22.93 P/E ratio. The Company’s divisions are AMER, APAC and EMEA.
According to Zacks Investment Research, “Plexus Corp., through its subsidiaries, provides product realization services to original equipment manufacturers in the medical, computer, industrial, networking, telecommunications and transportation electronics industries. Plexus offers a full range of services including product development and design, material procurement and management, prototyping, manufacturing and assembly, functional and in-circuit testing, final system box build, distribution and after-market support.”
Analysts await Plexus Corp. (NASDAQ:PLXS) to report earnings on January, 18. They expect $0.76 EPS, up 61.70% or $0.29 from last year’s $0.47 per share. PLXS’s profit will be $25.44 million for 16.90 P/E if the $0.76 EPS becomes a reality. After $0.67 actual EPS reported by Plexus Corp. for the previous quarter, Wall Street now forecasts 13.43% EPS growth.
More news for Plexus Corp. (NASDAQ:PLXS) were recently published by: Streetinsider.com, which released: “Form 4 PLEXUS CORP For: Nov 22 Filed by: FOATE DEAN A” on November 25, 2016. Streetinsider.com‘s article titled: “Plexus Corp’s (PLXS) Todd Kelsey to Succeed Dean Foate as CEO” and published on April 20, 2016 is yet another important article.
Plexus Corp. (Plexus), incorporated on August 29, 1979, and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus delivers end-to-end solutions for clients in the Americas (AMER); Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC) regions. The Company’s divisions are AMER, APAC and EMEA. The Firm is involved in providing electronics design, manufacturing and aftermarket services to companies with mid-to-low volume, higher complexity products. The Firm delivers solutions to its clients through its product realization value stream. The Company’s solutions include conceptualize, design, commercialize, manufacture, fulfill and sustain. The Firm provides customer service to approximately 140 branded product companies in the networking/communications, healthcare/life sciences, industrial/commercial and defense/security/aerospace market sectors.
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