Plexus Corp. (NASDAQ:PLXS) CEO Sells $385,200.00 in Stock

Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $128.40, for a total transaction of $385,200.00. Following the transaction, the chief executive officer now directly owns 93,682 shares in the company, valued at approximately $12,028,768.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Plexus Price Performance

PLXS stock opened at $117.71 on Monday. The company has a market cap of $3.23 billion, a PE ratio of 32.52 and a beta of 0.90. The company has a current ratio of 1.47, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $109.98 and a two-hundred day moving average price of $102.03. Plexus Corp. has a 12-month low of $87.21 and a 12-month high of $132.46.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.17. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The business had revenue of $960.70 million during the quarter, compared to analysts’ expectations of $981.32 million. During the same quarter in the previous year, the business earned $1.32 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, research analysts predict that Plexus Corp. will post 3.75 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on PLXS shares. Needham & Company LLC increased their price target on Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Stifel Nicolaus lifted their price target on Plexus from $90.00 to $95.00 and gave the company a “hold” rating in a report on Friday, April 26th. Finally, Benchmark increased their price objective on shares of Plexus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $124.00.

Hedge Funds Weigh In On Plexus

A number of hedge funds have recently made changes to their positions in PLXS. Boston Trust Walden Corp raised its position in Plexus by 1.1% in the fourth quarter. Boston Trust Walden Corp now owns 402,382 shares of the technology company’s stock valued at $43,510,000 after purchasing an additional 4,500 shares during the period. GHP Investment Advisors Inc. lifted its position in Plexus by 0.8% during the 4th quarter. GHP Investment Advisors Inc. now owns 85,792 shares of the technology company’s stock worth $9,277,000 after acquiring an additional 653 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Plexus in the 4th quarter worth approximately $1,481,000. Phocas Financial Corp. grew its position in Plexus by 16.5% in the fourth quarter. Phocas Financial Corp. now owns 64,424 shares of the technology company’s stock valued at $6,966,000 after acquiring an additional 9,128 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Plexus by 6.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,267 shares of the technology company’s stock valued at $678,000 after purchasing an additional 363 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.