Short traders are feeling a little more bearish on shares of Plexus Corp. lately as evidenced by the uptick in short interest. The company recorded a rise in short interest of 15.60% between August 15, 2017 and August 31, 2017. Short interest grew from 589,778 to 681,796 over that timeframe. Days to cover decreased 0.0 to 5.0 and the percentage of shorted shares was 0.02% on August 31.
Plexus Corp. (NASDAQ:PLXS) has been the object of insider selling activity recently. Steven J. Frisch, Exec VP & Chief Operating Off. reported the sale of 2,500 shares of (PLXS). The shares were purchased at an average price of $54.82. Frisch now owns $985,554 of the stock per the Form 4 SEC filing.
A few notable investment firms have updated their holdings. As of quarter end Chartwell Investment Partners, LLC had disposed of a total of 47,800 shares trimming its holdings by 11.0%. The value of the total investment in Plexus Corp. decreased from $25,089,000 to $20,306,000 a change of $4,783,000 quarter to quarter. Netols Asset Management, Inc. trimmed its holdings by selling 12,200 shares a decrease of 8.1% from 12/31/2016 to 03/31/2017. Netols Asset Management, Inc. currently owns 137,621 shares valued at $7,954,000. The value of the position overall is down by 1.8%.
AHL Partners LLP downsized its position by shedding 105,437 shares a decrease of 60.7% in the quarter. AHL Partners LLP now holds 68,134 shares with a value of $3,582,000. The total value of its holdings decreased 64.3%. As of the end of the quarter Vident Investment Advisory, LLC had bought 704 shares growing its position 1.8%. The value of the investment in Plexus Corp. went from $2,237,000 to $2,072,000 a change of 7.4% quarter over quarter.
In the market the company is trading up by 0.07% percent from yesterday’s close. It is currently trading at $54.29 just above the 50 day moving average which is $51.64 and which is marginally higher than the 200 day moving average of $53.24. The 50 day moving average went up by +5.12% and the 200 day average went up by +1.98%.
The P/E ratio is currently 18.33 and the market value is 1.82B. In the latest earnings report the EPS was $2.96 and is projected to be $3.22 for the current year with 33,600,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.83 with next year’s EPS anticipated to be $3.46.
Plexus Corp. (Plexus), launched on August 29, 1979, 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 Business’s segments are AMER, APAC and EMEA. The Business’s customer-focused solutions model integrates product conceptualization, design, commercialization, manufacturing, fulfillment and sustaining solutions. The Company delivers solutions to its customers through its product realization value stream. The Company provides customer services to approximately 140 branded product companies in the healthcare/life sciences, industrial/commercial, networking/communications and defense/security/aerospace market sectors..