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NEENAH, WI—Todd Kelsey, President and CEO of Plexus Corp (NASDAQ:PLXS), reported the sale of 3,000 shares of the company’s common stock, according to a recent SEC filing. The transactions, which took place on May 23 and May 27, were executed at prices ranging from $130.00 to $132.25 per share, amounting to a total of $393,350. The electronic manufacturing services company, currently valued at $3.59 billion, trades near InvestingPro’s Fair Value estimate.
Following these transactions, Kelsey holds 76,714 shares of Plexus stock. These sales were conducted as part of Kelsey’s direct ownership in the company, with no involvement of equity swaps. According to InvestingPro data, Plexus maintains a strong financial health score and boasts a perfect Piotroski Score of 9, indicating robust operational efficiency.
Investors often monitor insider transactions such as these to gauge the sentiment of company executives and their confidence in the company’s future performance. Analyst price targets for Plexus range from $135 to $165, suggesting potential upside. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report about Plexus, helping inform investment decisions.
In other recent news, Plexus Corporation reported its fiscal second quarter earnings, showcasing a notable performance with earnings per share (EPS) of $1.66, surpassing analyst expectations by $0.12. However, the company reported revenues of $980.17 million, slightly below the forecast of $981.4 million. Despite the revenue miss, Plexus remains optimistic, projecting a 6% year-over-year revenue increase for the fiscal third quarter, slightly above the market’s forecast of a 5% rise. Needham analysts, responding to Plexus’s earnings announcement, adjusted their price target for the company from $172 to $162, while maintaining a Buy rating. This decision reflects confidence in Plexus’s ability to navigate economic challenges, bolstered by strong performances in aerospace, defense, and healthcare sectors.
Plexus has also issued solid guidance for the upcoming quarters, anticipating continued sequential revenue growth and targeting non-GAAP operating margins of 6% or higher by the end of fiscal year 2025. The company’s strategic investments in AI and automation are expected to drive meaningful EPS growth. Additionally, Plexus’s diversified operations and strong customer relationships are seen as stabilizing factors amid broader macroeconomic uncertainties. The company plans to expand its facilities, with a new site in Malaysia expected to open soon, and is focusing on operational efficiencies to maximize capacity within existing structures.
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