Plexus Corp executive sells $127,500 in company stock

In a recent transaction, Victor Tan, the Regional President - APAC of Plexus Corp (NASDAQ:PLXS), has sold shares of the company's stock. On August 28, Tan parted with 1,000 shares at a price of $127.50 per share, totaling $127,500.

This sale has adjusted Tan's holdings in the company to 8,605 shares of common stock remaining. Plexus Corp, headquartered in Neenah, Wisconsin, specializes in the production of printed circuit boards and operates within the manufacturing sector.

Investors often monitor the buying and selling activities of corporate executives as they can provide insights into a company's financial health and future prospects. The transactions are publicly disclosed to ensure transparency and maintain fair trading practices.

The details of the transaction have been filed with the Securities and Exchange Commission and are accessible for public review. Tan's sale represents a notable change in his investment in the company, and it remains a point of interest for current and potential investors in Plexus Corp.

In other recent news, Plexus Corp announced a new $50M stock buyback plan, demonstrating its financial confidence and commitment to enhancing shareholder value. Concurrently, the company reported robust Q3 results, surpassing revenue expectations with $961 million and generating a substantial $114 million in free cash flow. Plexus Corp also projected a revenue growth of 9-12% for fiscal 2025. Despite experiencing growth below expectations in the aerospace and defense sector due to supply constraints and customer design changes, the company anticipates a mid-single-digit revenue increase in the fiscal fourth quarter. The company's funnel of qualified manufacturing opportunities has grown to $3.6 billion, and the free cash flow for fiscal 2024 is projected to exceed $150 million. The healthcare life sciences sector had a strong third quarter with $197 million in wins, and the company has secured over $500 million in healthcare life sciences contracts over the past four quarters. Lastly, the company discussed the impact of AI on power opportunities related to data centers, indicating potential growth in this area. These recent developments reflect Plexus Corp's ongoing efforts to strategically allocate capital and deliver value to its investors.

InvestingPro Insights

In light of the recent share sale by Victor Tan, Regional President - APAC of Plexus Corp (NASDAQ:PLXS), it's important for investors to consider the company's performance and market position. Plexus Corp, with a market capitalization of approximately $3.49 billion, is trading near its 52-week high, reflecting confidence among investors. The company's stock has experienced a significant price uptick over the last six months, with a 35.36% total return, which aligns with the strong return over the last three months of 15.65%.

InvestingPro Tips indicate that Plexus Corp operates with a moderate level of debt and has been profitable over the last twelve months. Analysts have revised their earnings upwards for the upcoming period, suggesting an optimistic outlook. However, it's worth noting that the company suffers from weak gross profit margins, currently standing at 9.34%, which could be a point of concern for investors seeking companies with stronger profitability metrics.

Moreover, the company's P/E ratio, at 31.73, suggests a higher valuation compared to the adjusted P/E ratio for the last twelve months as of Q3 2024, which stands at 27.15. This could indicate that the stock is currently trading at a premium. Plexus Corp does not pay a dividend to shareholders, which might influence the investment decisions of those seeking regular income.

For those interested in a deeper analysis, there are additional InvestingPro Tips available at InvestingPro, which can provide further insights into Plexus Corp's financial health and future prospects.

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