Plexus Corp. (NASDAQ:PLXS) CEO Sells $109,880.00 in Stock
Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $54.94, for a total transaction of $109,880.00. Following the completion of the transaction, the chief executive officer now owns 57,175 shares of the company’s stock, valued at approximately $3,141,194.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Plexus Corp. (NASDAQ PLXS) traded down 0.42% on Wednesday, reaching $54.65. 187,557 shares of the company traded hands. The company has a market capitalization of $1.84 billion, a PE ratio of 18.45 and a beta of 0.93. Plexus Corp. has a one year low of $43.56 and a one year high of $58.74. The firm has a 50-day moving average price of $52.75 and a 200 day moving average price of $54.20.
Plexus Corp. (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. The company had revenue of $618.80 million during the quarter, compared to analyst estimates of $608.95 million. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. Plexus Corp.’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. Equities analysts forecast that Plexus Corp. will post $3.22 EPS for the current fiscal year.
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Several research firms have recently weighed in on PLXS. Zacks Investment Research cut shares of Plexus Corp. from a “hold” rating to a “sell” rating in a report on Monday, April 24th. BidaskClub cut shares of Plexus Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. J P Morgan Chase & Co began coverage on shares of Plexus Corp. in a report on Tuesday, April 4th. They issued a “neutral” rating and a $65.00 price target for the company. ValuEngine cut shares of Plexus Corp. from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Finally, Citigroup Inc. upped their price target on shares of Plexus Corp. from $56.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $58.25.
A number of hedge funds have recently made changes to their positions in PLXS. Ameritas Investment Partners Inc. acquired a new stake in shares of Plexus Corp. during the first quarter worth approximately $166,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Plexus Corp. during the first quarter worth approximately $200,000. Appleton Group LLC acquired a new stake in shares of Plexus Corp. during the first quarter worth approximately $211,000. SG Americas Securities LLC raised its stake in shares of Plexus Corp. by 20.0% in the first quarter. SG Americas Securities LLC now owns 3,655 shares of the technology company’s stock worth $211,000 after buying an additional 609 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Plexus Corp. by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 3,720 shares of the technology company’s stock worth $215,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 94.92% of the company’s stock.
About Plexus Corp.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company 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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