Insider Selling: Plexus Corp. (NASDAQ:PLXS) CEO Sells $431,894.16 in Stock

Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 4,248 shares of Plexus stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $101.67, for a total value of $431,894.16. Following the completion of the sale, the chief executive officer now directly owns 108,562 shares in the company, valued at approximately $11,037,498.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Plexus Trading Up 0.7 %

Shares of Plexus stock opened at $104.07 on Friday. Plexus Corp. has a 1 year low of $83.84 and a 1 year high of $114.06. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 28.75 and a beta of 1.00. The business has a fifty day simple moving average of $95.28 and a two-hundred day simple moving average of $98.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.51 and a quick ratio of 0.64.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.87 by $0.07. The business had revenue of $966.90 million during the quarter, compared to the consensus estimate of $950.75 million. Plexus had a net margin of 2.54% and a return on equity of 10.77%. Plexus’s revenue was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.45 EPS. Research analysts forecast that Plexus Corp. will post 3.61 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on PLXS. TheStreet lowered Plexus from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th. Needham & Company LLC boosted their target price on shares of Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus increased their price target on shares of Plexus from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Sidoti lowered shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a research note on Tuesday, January 9th. Finally, Benchmark reaffirmed a “buy” rating and issued a $110.00 target price on shares of Plexus in a report on Wednesday, January 17th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $107.75.

Hedge Funds Weigh In On Plexus

A number of large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Plexus in the 4th quarter valued at $19,533,000. Westfield Capital Management Co. LP boosted its holdings in Plexus by 108.8% in the 4th quarter. Westfield Capital Management Co. LP now owns 298,262 shares of the technology company’s stock valued at $32,251,000 after purchasing an additional 155,447 shares during the period. First Eagle Investment Management LLC acquired a new position in shares of Plexus during the 3rd quarter worth approximately $5,865,000. Vanguard Group Inc. increased its holdings in shares of Plexus by 1.4% during the third quarter. Vanguard Group Inc. now owns 3,453,940 shares of the technology company’s stock worth $321,147,000 after purchasing an additional 47,762 shares during the period. Finally, Fiduciary Management Inc. WI raised its position in shares of Plexus by 3.8% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock valued at $132,667,000 after buying an additional 44,398 shares in the last quarter. Institutional investors 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.