Insider Selling: Plexus Corp. (NASDAQ:PLXS) CEO Sells $102,100.00 in Stock

Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 1,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $102.10, for a total transaction of $102,100.00. Following the completion of the sale, the chief executive officer now directly owns 113,810 shares of the company’s stock, valued at $11,620,001. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Plexus Price Performance

Plexus stock opened at $104.07 on Friday. The firm’s 50-day moving average is $95.28 and its two-hundred day moving average is $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. The stock has a market capitalization of $2.87 billion, a P/E ratio of 28.75 and a beta of 1.00. Plexus Corp. has a 12-month low of $83.84 and a 12-month high of $114.06.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The firm had revenue of $966.90 million for the quarter, compared to analyst estimates 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 last year, the business earned $1.45 earnings per share. Equities analysts predict that Plexus Corp. will post 3.61 earnings per share for the current year.

Institutional Investors Weigh In On Plexus

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC lifted its position in Plexus by 72.3% during the fourth quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock worth $38,000 after buying an additional 146 shares during the period. GAMMA Investing LLC acquired a new position in shares of Plexus during the 4th quarter valued at about $44,000. Cetera Trust Company N.A acquired a new stake in shares of Plexus in the fourth quarter worth approximately $54,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Plexus in the fourth quarter worth approximately $66,000. Finally, TFO Wealth Partners LLC grew its holdings in Plexus by 86,050.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,723 shares of the technology company’s stock valued at $186,000 after purchasing an additional 1,721 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Plexus

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.