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

Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $156.39, for a total transaction of $234,585.00. Following the completion of the transaction, the chief executive officer now owns 74,271 shares in the company, valued at $11,615,241.69. This 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 Stock Up 1.7 %

PLXS traded up $2.69 during trading on Friday, hitting $157.91. The company had a trading volume of 108,464 shares, compared to its average volume of 94,459. The company has a market capitalization of $4.28 billion, a PE ratio of 39.38 and a beta of 0.90. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. Plexus Corp. has a one year low of $90.18 and a one year high of $170.07. The firm’s 50-day moving average price is $159.22 and its 200 day moving average price is $135.04.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 earnings per share. As a group, equities analysts expect that Plexus Corp. will post 6.14 earnings per share for the current year.

Hedge Funds Weigh In On Plexus

Hedge funds have recently made changes to their positions in the business. Glenmede Trust Co. NA boosted its holdings in Plexus by 4.4% during the third 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 last quarter. GAMMA Investing LLC boosted its stake in shares of Plexus by 17.2% during the 4th quarter. GAMMA Investing LLC now owns 891 shares of the technology company’s stock worth $139,000 after buying an additional 131 shares during the last quarter. Farrow Financial Inc. grew its holdings in shares of Plexus by 0.7% in the 3rd quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company’s stock valued at $2,966,000 after acquiring an additional 155 shares in the last quarter. Arizona State Retirement System increased its position in shares of Plexus by 2.2% in the second quarter. Arizona State Retirement System now owns 7,729 shares of the technology company’s stock valued at $797,000 after acquiring an additional 170 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Plexus by 6.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,788 shares of the technology company’s stock worth $288,000 after acquiring an additional 176 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. KeyCorp assumed coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating for the company. StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Stifel Nicolaus raised their target price on Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a report on Tuesday, December 10th. Needham & Company LLC upped their price target on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Benchmark increased their price target on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.