Insider Selling: Plexus (NASDAQ:PLXS) CEO Sells $376,470.00 in Stock

Plexus Corp. (NASDAQ:PLXS) CEO Todd Kelsey sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $250.98, for a total value of $376,470.00. Following the completion of the sale, the chief executive officer owned 65,888 shares of the company’s stock, valued at approximately $16,536,570.24. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Plexus Stock Down 0.7%

Shares of PLXS opened at $240.14 on Friday. Plexus Corp. has a 52-week low of $131.37 and a 52-week high of $307.06. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $269.04 and a two-hundred day simple moving average of $242.60. The company has a market capitalization of $6.43 billion, a PE ratio of 35.42 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.19. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company posted $1.64 EPS. The company’s revenue was up 28.2% compared to the same quarter last year. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. As a group, equities analysts forecast that Plexus Corp. will post 7.11 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on PLXS. Weiss Ratings cut shares of Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Stifel Nicolaus lifted their price target on shares of Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Wall Street Zen upgraded Plexus from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price objective for the company in a research report on Friday, July 31st. Finally, Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to MarketBeat, Plexus currently has a consensus rating of “Buy” and an average price target of $273.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Plexus during the 2nd quarter worth approximately $32,000. Covestor Ltd lifted its stake in Plexus by 207.7% during the fourth quarter. Covestor Ltd now owns 240 shares of the technology company’s stock worth $35,000 after purchasing an additional 162 shares in the last quarter. Kilter Group LLC acquired a new position in Plexus during the second quarter worth $40,000. Allworth Financial LP boosted its position in shares of Plexus by 20.8% during the fourth quarter. Allworth Financial LP now owns 302 shares of the technology company’s stock worth $44,000 after buying an additional 52 shares during the period. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Plexus in the second quarter valued at $71,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

About Plexus

Plexus Corp. (NASDAQ: PLXS) is a global provider of electronics manufacturing services (EMS) and precision engineered electronics solutions. Headquartered in Neenah, Wisconsin, the company partners with original equipment manufacturers across industries such as medical, industrial, aerospace and defense, computing, and communications. Plexus offers a full suite of services that span new product introduction, product lifecycle management, supply chain management, printed circuit board assembly, system integration, and aftermarket support.

Founded in 1979, Plexus has grown from a regional electronics assembler into a multinational organization with manufacturing and engineering centers across North America, Europe, and Asia.