Todd P. Kelsey Sells 17,750 Shares of Plexus Corp. (PLXS) Stock
Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 17,750 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $49.92, for a total value of $886,080.00. Following the sale, the chief executive officer now directly owns 45,162 shares of the company’s stock, valued at $2,254,487.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Plexus Corp. (NASDAQ:PLXS) opened at 50.85 on Monday. Plexus Corp. has a 12-month low of $28.72 and a 12-month high of $51.11. The stock has a 50 day moving average price of $46.72 and a 200 day moving average price of $45.28. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 22.70 and a beta of 1.12.
Plexus Corp. (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02. Plexus Corp. had a net margin of 2.99% and a return on equity of 9.77%. The business earned $653.06 million during the quarter, compared to analyst estimates of $670.53 million. During the same period last year, the business posted $0.69 earnings per share. Plexus Corp.’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, analysts expect that Plexus Corp. will post $3.27 EPS for the current year.
A number of hedge funds have recently modified their holdings of PLXS. Phocas Financial Corp. raised its stake in shares of Plexus Corp. by 6.5% in the third quarter. Phocas Financial Corp. now owns 224,964 shares of the company’s stock valued at $10,524,000 after buying an additional 13,716 shares during the period. Verition Fund Management LLC bought a new stake in shares of Plexus Corp. during the third quarter valued at approximately $379,000. Highbridge Capital Management LLC bought a new stake in shares of Plexus Corp. during the third quarter valued at approximately $356,000. Gotham Asset Management LLC bought a new stake in shares of Plexus Corp. during the third quarter valued at approximately $716,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Plexus Corp. during the third quarter valued at approximately $1,050,000. Institutional investors and hedge funds own 94.94% of the company’s stock.
A number of brokerages have commented on PLXS. Zacks Investment Research lowered Plexus Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st. B. Riley reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Plexus Corp. in a report on Tuesday, November 1st. Finally, Needham & Company LLC set a $52.00 target price on Plexus Corp. and gave the company a “buy” rating in a report on Friday, September 16th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Plexus Corp. has an average rating of “Hold” and an average target price of $49.80.
Plexus Corp. Company Profile
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus delivers end-to-end solutions for customers in the Americas (AMER); Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
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