Todd P. Kelsey Sells 4,337 Shares of Plexus Corp. (NASDAQ:PLXS) Stock

Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 4,337 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $142.23, for a total transaction of $616,851.51. Following the completion of the transaction, the chief executive officer now owns 80,595 shares in the company, valued at $11,463,026.85. This represents a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Plexus Stock Performance

Shares of PLXS traded up $2.05 during mid-day trading on Wednesday, hitting $142.39. 201,796 shares of the company’s stock were exchanged, compared to its average volume of 181,335. The firm has a market capitalization of $3.86 billion, a P/E ratio of 33.04 and a beta of 0.89. Plexus Corp. has a fifty-two week low of $90.18 and a fifty-two week high of $172.89. The business’s 50 day moving average is $159.83 and its two-hundred day moving average is $143.57. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07.

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

Institutional Trading of Plexus

Several hedge funds have recently made changes to their positions in PLXS. Quarry LP lifted its position in Plexus by 573.5% in the third quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after purchasing an additional 195 shares during the period. R Squared Ltd purchased a new position in shares of Plexus during the 4th quarter worth approximately $45,000. Point72 DIFC Ltd acquired a new stake in shares of Plexus in the 3rd quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Plexus in the third quarter valued at approximately $55,000. Finally, USA Financial Formulas acquired a new position in Plexus during the fourth quarter worth $56,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

PLXS has been the topic of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating and issued a $165.00 target price on shares of Plexus in a research report on Wednesday, January 22nd. KeyCorp started coverage on Plexus in a report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Needham & Company LLC raised their price target on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Stifel Nicolaus initiated coverage on Plexus in a research note on Tuesday. They issued a “hold” rating and a $152.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.