Todd P. Kelsey Sells 4,000 Shares of Plexus Corp. (PLXS) Stock
Plexus Corp. (NASDAQ:PLXS) CEO Todd P. Kelsey sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $61.71, for a total transaction of $246,840.00. Following the completion of the sale, the chief executive officer now owns 58,425 shares in the company, valued at approximately $3,605,406.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Plexus Corp. (NASDAQ:PLXS) last announced its earnings results on Wednesday, October 25th. The technology company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.02. Plexus Corp. had a net margin of 4.43% and a return on equity of 11.48%. The company had revenue of $670.00 million during the quarter, compared to the consensus estimate of $676.23 million. During the same period in the previous year, the firm posted $0.82 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis.
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Hedge funds and other institutional investors have recently made changes to their positions in the business. Riverhead Capital Management LLC raised its stake in shares of Plexus Corp. by 69.0% in the second quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock worth $124,000 after acquiring an additional 966 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Plexus Corp. in the first quarter worth about $200,000. 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 acquiring an additional 609 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Plexus Corp. by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after acquiring an additional 31 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of Plexus Corp. by 1.4% in the second quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock worth $241,000 after acquiring an additional 65 shares during the last quarter. 94.06% of the stock is owned by institutional investors.
PLXS has been the topic of several analyst reports. Citigroup Inc. raised their price target on shares of Plexus Corp. from $59.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Stifel Nicolaus restated a “hold” rating and issued a $54.00 price target on shares of Plexus Corp. in a research note on Tuesday, September 12th. J P Morgan Chase & Co lowered shares of Plexus Corp. from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research note on Tuesday, October 10th. ValuEngine upgraded shares of Plexus Corp. from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Finally, Zacks Investment Research lowered shares of Plexus Corp. from a “hold” rating to a “sell” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $57.86.
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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