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Todd Kelsey, President and CEO of Plexus Corp (NASDAQ:PLXS), recently sold 1,500 shares of the company’s common stock. The transaction, which took place on March 3, 2025, was conducted at a price of $132.92 per share, amounting to a total value of approximately $199,379. The sale comes as the stock has seen an 18.5% decline year-to-date, though it maintains a 35% gain over the past year. According to InvestingPro, the company currently appears overvalued based on its Fair Value analysis. This sale was executed as part of a pre-established Rule 10b5-1 trading plan, which Kelsey adopted on August 16, 2024. Following this transaction, Kelsey retains ownership of 82,714 shares in the company. InvestingPro analysis reveals that Plexus maintains a perfect Piotroski Score of 9, indicating strong financial health, with 11 more exclusive ProTips available to subscribers. The company’s market capitalization stands at $3.4 billion, with a moderate debt level and strong free cash flow yield.
In other recent news, Plexus Corp reported its first-quarter fiscal year 2025 earnings, with revenues falling slightly short of expectations by 0.6%, but earnings per share (EPS) exceeded consensus estimates by 8.7%. Despite this positive EPS performance, the company’s outlook for the second quarter is less optimistic, with projections missing estimates for both revenue and earnings. Benchmark analyst David Williams maintained a Buy rating with a $165 target, citing strong margins and free cash flow as positive aspects of Plexus’s performance. Raymond (NSE:RYMD) James also raised its price target to $165, maintaining an Outperform rating, emphasizing the company’s potential benefits from a shift towards domestic manufacturing.
Needham increased its price target for Plexus to $172, maintaining a Buy rating, after the company reported better-than-expected margins. However, the firm noted a less optimistic outlook for the second quarter with flat revenue projections and an anticipated 11% decrease in non-GAAP EPS. Stifel initiated coverage with a Hold rating and a $152 price target, reflecting confidence in Plexus’s strategic positioning and profitability focus. Additionally, Plexus shareholders recently approved all board nominees and executive compensation at the 2025 Annual Meeting, with PricewaterhouseCoopers LLP ratified as the independent auditor.
These developments reflect Plexus’s ongoing efforts to navigate a competitive landscape while maintaining strong financial metrics. The company continues to secure new program wins and demonstrates effective execution despite an uneven demand recovery across its diverse end markets. Investors will be watching closely to see if Plexus can meet or exceed its operational and financial targets in the coming quarters.
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