Plexus Corp. (PLXS) CEO Sells $241,800.00 in Stock

Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 4,000 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $60.45, for a total value of $241,800.00. Following the transaction, the chief executive officer now owns 72,031 shares in the company, valued at approximately $4,354,273.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Plexus stock opened at $59.56 on Friday. The firm has a market cap of $1.92 billion, a PE ratio of 18.40 and a beta of 0.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.98 and a current ratio of 2.06. Plexus Corp. has a 12 month low of $52.44 and a 12 month high of $66.78.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.87 by $0.09. The firm had revenue of $771.18 million for the quarter, compared to analyst estimates of $760.98 million. Plexus had a return on equity of 11.98% and a net margin of 0.45%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. Sell-side analysts predict that Plexus Corp. will post 3.87 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC purchased a new position in Plexus in the first quarter valued at about $752,000. Xact Kapitalforvaltning AB grew its stake in Plexus by 62.2% in the first quarter. Xact Kapitalforvaltning AB now owns 5,737 shares of the technology company’s stock valued at $343,000 after purchasing an additional 2,200 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Plexus in the first quarter valued at about $244,000. Principal Financial Group Inc. grew its stake in Plexus by 2.5% in the first quarter. Principal Financial Group Inc. now owns 264,205 shares of the technology company’s stock valued at $15,781,000 after purchasing an additional 6,506 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in Plexus by 413.3% in the second quarter. Bank of Montreal Can now owns 9,466 shares of the technology company’s stock valued at $563,000 after purchasing an additional 7,622 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Several brokerages have recently commented on PLXS. BidaskClub upgraded Plexus from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. ValuEngine lowered Plexus from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $70.00 price target on shares of Plexus in a research note on Friday, July 20th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $70.67.

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Plexus Company Profile

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.

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