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 firm’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 transaction, the chief executive officer now owns 87,665 shares of the company’s stock, valued at approximately $12,273,100. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Plexus Trading Down 1.7 %

Shares of NASDAQ:PLXS opened at $137.34 on Friday. The firm has a fifty day moving average of $153.12 and a two-hundred day moving average of $145.05. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 12-month low of $90.18 and a 12-month high of $172.89. The firm has a market capitalization of $3.71 billion, a P/E ratio of 31.87 and a beta of 0.89.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data 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 return on equity of 10.36% and a net margin of 3.03%. On average, equities analysts expect that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Plexus

A number of hedge funds have recently added to or reduced their stakes in PLXS. Creative Planning grew its position in Plexus by 56.0% in the third quarter. Creative Planning now owns 14,616 shares of the technology company’s stock worth $1,998,000 after acquiring an additional 5,245 shares in the last quarter. Riverwater Partners LLC lifted its stake in shares of Plexus by 132.2% in the 3rd quarter. Riverwater Partners LLC now owns 18,850 shares of the technology company’s stock valued at $2,545,000 after purchasing an additional 10,731 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Plexus by 158.0% in the third quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company’s stock worth $11,289,000 after purchasing an additional 50,564 shares in the last quarter. Legacy Wealth Asset Management LLC acquired a new position in Plexus during the third quarter worth $217,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Plexus during the third quarter valued at about $208,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PLXS shares. Benchmark reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Plexus in a research note on Wednesday, January 22nd. Needham & Company LLC raised their target price on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Stifel Nicolaus began coverage on Plexus in a research report on Tuesday, February 4th. They set a “hold” rating and a $152.00 price target on the stock. Finally, StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Plexus presently has an average rating of “Moderate Buy” and a consensus price target 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.