Insider Selling: Plexus Corp. (NASDAQ:PLXS) CEO Sells 1,500 Shares of Stock

Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total value of $234,585.00. Following the completion of the sale, the chief executive officer now owns 74,271 shares in the company, valued at approximately $11,615,241.69. This represents a 1.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Plexus Stock Up 1.7 %

PLXS opened at $157.91 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. Plexus Corp. has a twelve month low of $90.18 and a twelve month high of $170.07. The company has a market cap of $4.28 billion, a PE ratio of 39.38 and a beta of 0.91. The company has a 50-day moving average price of $159.55 and a 200 day moving average price of $135.65.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.44 earnings per share. Sell-side analysts expect that Plexus Corp. will post 6.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PLXS has been the subject of several analyst reports. Benchmark boosted their target price on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, October 28th. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Needham & Company LLC raised their target price on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus upped their price target on Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Finally, KeyCorp began coverage on Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $147.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP grew its holdings in shares of Plexus by 573.5% during the third quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after buying an additional 195 shares in the last quarter. Quest Partners LLC boosted its position in Plexus by 36,700.0% during the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after acquiring an additional 367 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Plexus during the 3rd quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Plexus in the 3rd quarter valued at about $55,000. Finally, Farther Finance Advisors LLC lifted its stake in Plexus by 89.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock worth $63,000 after purchasing an additional 219 shares in the last quarter. Hedge funds and other 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.