Plexus Corp. (NASDAQ:PLXS) CEO Sells $234,585.00 in Stock

Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $156.39, for a total transaction of $234,585.00. Following the transaction, the chief executive officer now directly owns 74,271 shares of the company’s stock, valued at approximately $11,615,241.69. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Plexus Trading Up 1.7 %

Plexus stock opened at $157.91 on Friday. Plexus Corp. has a one year low of $90.18 and a one year high of $170.07. The business’s fifty day moving average is $159.55 and its 200 day moving average is $135.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. The stock has a market capitalization of $4.28 billion, a PE ratio of 39.38 and a beta of 0.91.

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

Institutional Investors Weigh In On Plexus

Hedge funds have recently added to or reduced their stakes in the stock. Natixis Advisors LLC increased its position in Plexus by 34.6% during the second quarter. Natixis Advisors LLC now owns 16,688 shares of the technology company’s stock valued at $1,722,000 after acquiring an additional 4,286 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Plexus by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 88,072 shares of the technology company’s stock worth $9,087,000 after purchasing an additional 1,851 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Plexus by 1.2% in the second quarter. Victory Capital Management Inc. now owns 192,703 shares of the technology company’s stock worth $19,883,000 after buying an additional 2,366 shares during the last quarter. Arizona State Retirement System grew its position in Plexus by 2.2% during the second quarter. Arizona State Retirement System now owns 7,729 shares of the technology company’s stock valued at $797,000 after buying an additional 170 shares during the period. Finally, North Star Asset Management Inc. purchased a new stake in Plexus during the second quarter valued at approximately $215,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.