Plexus Corp. (NASDAQ:PLXS) CEO Sells $280,000.00 in Stock

Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $140.00, for a total transaction of $280,000.00. Following the completion of the sale, the chief executive officer now directly owns 87,665 shares in the company, valued at $12,273,100. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Plexus Stock Performance

PLXS traded down $0.42 during midday trading on Thursday, hitting $139.66. 161,783 shares of the company traded hands, compared to its average volume of 181,160. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.78 billion, a PE ratio of 32.40 and a beta of 0.89. The company’s 50-day moving average is $154.27 and its 200 day moving average is $144.74. Plexus Corp. has a 52 week low of $90.18 and a 52 week high of $172.89.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. On average, research analysts expect that Plexus Corp. will post 5.9 EPS for the current year.

Hedge Funds Weigh In On Plexus

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of Plexus by 12.1% in the 4th quarter. Blue Trust Inc. now owns 776 shares of the technology company’s stock worth $121,000 after purchasing an additional 84 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Plexus by 45.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock worth $50,000 after purchasing an additional 100 shares during the period. Glenmede Trust Co. NA lifted its stake in shares of Plexus by 4.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,453 shares of the technology company’s stock worth $335,000 after purchasing an additional 104 shares during the period. Tocqueville Asset Management L.P. lifted its stake in shares of Plexus by 1.8% in the 4th quarter. Tocqueville Asset Management L.P. now owns 5,907 shares of the technology company’s stock worth $924,000 after purchasing an additional 107 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Plexus by 17.2% in the 4th quarter. GAMMA Investing LLC now owns 891 shares of the technology company’s stock worth $139,000 after purchasing an additional 131 shares during the period. Institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

PLXS has been the topic of a number of analyst reports. Needham & Company LLC upped their price target on shares of Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Stifel Nicolaus initiated coverage on shares of Plexus in a research note on Tuesday, February 4th. They issued a “hold” rating and a $152.00 price target on the stock. Benchmark reiterated a “buy” rating and issued a $165.00 price target on shares of Plexus in a research note on Wednesday, January 22nd. Finally, StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Plexus currently has an average rating of “Moderate Buy” and a consensus target price of $163.00.

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.