Insider Selling: Plexus Corp. (NASDAQ:PLXS) CEO Sells 2,000 Shares of Stock

Plexus Corp. (NASDAQ:PLXS – Get Rating) CEO Todd P. Kelsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $85.02, for a total transaction of $170,040.00. Following the completion of the transaction, the chief executive officer now directly owns 125,010 shares in the company, valued at approximately $10,628,350.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Plexus stock traded down $1.10 on Friday, hitting $80.92. 107,062 shares of the company traded hands, compared to its average volume of 137,777. The stock has a market capitalization of $2.24 billion, a P/E ratio of 20.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.64 and a current ratio of 1.47. Plexus Corp. has a 52 week low of $72.88 and a 52 week high of $101.17. The business has a 50-day simple moving average of $81.55 and a 200 day simple moving average of $85.42.

Plexus (NASDAQ:PLXS – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The technology company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.12. The firm had revenue of $888.70 million for the quarter, compared to analysts’ expectations of $839.76 million. Plexus had a net margin of 3.31% and a return on equity of 11.05%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.49 earnings per share. Research analysts expect that Plexus Corp. will post 4.1 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in PLXS. Quadrant Capital Group LLC increased its position in Plexus by 51.2% in the fourth quarter. Quadrant Capital Group LLC now owns 384 shares of the technology company’s stock worth $37,000 after purchasing an additional 130 shares during the last quarter. Pinebridge Investments L.P. bought a new stake in Plexus in the fourth quarter worth $77,000. Johnson Financial Group Inc. bought a new stake in Plexus in the fourth quarter worth $79,000. Point72 Hong Kong Ltd bought a new stake in Plexus in the third quarter worth $85,000. Finally, Eaton Vance Management increased its position in Plexus by 11.3% during the fourth quarter. Eaton Vance Management now owns 1,982 shares of the technology company’s stock valued at $98,000 after acquiring an additional 202 shares during the last quarter. Institutional investors own 94.92% of the company’s stock.

Several brokerages have weighed in on PLXS. Zacks Investment Research raised shares of Plexus from a “strong sell” rating to a “hold” rating and set a $88.00 price target on the stock in a report on Wednesday, March 30th. TheStreet downgraded shares of Plexus from a “b” rating to a “c+” rating in a report on Thursday, February 24th. Needham & Company LLC lowered their price target on shares of Plexus from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, January 28th. Finally, StockNews.com began coverage on shares of Plexus in a report on Thursday, March 31st. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $98.12.

Plexus Company Profile (Get Rating)

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.

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