Insider Selling: Plexus Corp. (NASDAQ:PLXS) CEO Sells 1,500 Shares of Stock

Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $136.96, for a total transaction of $205,440.00. Following the transaction, the chief executive officer now owns 86,932 shares in the company, valued at approximately $11,906,206.72. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Plexus Stock Performance

PLXS stock traded up $2.05 during mid-day trading on Wednesday, hitting $142.39. 201,796 shares of the company were exchanged, compared to its average volume of 181,335. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. The business has a 50 day simple moving average of $159.83 and a 200-day simple moving average of $143.57. Plexus Corp. has a 1-year low of $90.18 and a 1-year high of $172.89. The stock has a market capitalization of $3.86 billion, a PE ratio of 33.04 and a beta of 0.89.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, January 22nd. The technology company reported $1.49 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, equities analysts forecast that Plexus Corp. will post 5.97 earnings per share for the current year.

Hedge Funds Weigh In On Plexus

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP boosted its holdings in shares of Plexus by 573.5% during the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after buying an additional 195 shares in the last quarter. R Squared Ltd bought a new stake in shares of Plexus in the 4th quarter worth $45,000. USA Financial Formulas bought a new position in shares of Plexus during the 4th quarter worth approximately $56,000. Point72 DIFC Ltd purchased a new stake in shares of Plexus during the 3rd quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Plexus in the third quarter valued at $55,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PLXS. KeyCorp initiated coverage on Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating for the company. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Benchmark restated a “buy” rating and issued a $165.00 target price on shares of Plexus in a report on Wednesday, January 22nd. Needham & Company LLC increased their price objective on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Stifel Nicolaus initiated coverage on shares of Plexus in a research report on Tuesday. They set a “hold” rating and a $152.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Plexus currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.00.

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.