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Karen Rapp, a director at Plexus Corp (NASDAQ:PLXS), recently sold 500 shares of the company’s common stock, valued at approximately $65,605. The shares were sold on February 28 at a price of $131.21 each. The transaction comes as the stock has declined 18.5% year-to-date, though it maintains a "GOOD" financial health rating according to InvestingPro analysis. Following this transaction, Rapp holds 9,865 shares in Plexus Corp. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, which was adopted on February 28, 2024. Plexus Corp, a $3.4 billion market cap company based in Neenah, Wisconsin, specializes in printed circuit boards. Notably, the company has achieved a perfect Piotroski Score of 9, indicating strong financial performance. InvestingPro subscribers have access to over 10 additional key insights about PLXS, including detailed valuation metrics and growth indicators.
In other recent news, Plexus Corp reported its first-quarter fiscal year 2025 results, showing revenues slightly below expectations but an earnings per share (EPS) beat of 8.7% over consensus estimates. Despite this positive outcome, the company’s outlook for the second quarter is less optimistic, with anticipated declines in revenue and earnings due to volatility in market sectors like industrial. Analysts from Benchmark and Raymond (NSE:RYMD) James have maintained positive ratings, with Benchmark assigning a Buy rating and Raymond James upgrading their price target to $165, highlighting Plexus’s strong margins and free cash flow. Needham also raised its price target to $172, citing the company’s margin strength and confidence in improved performance in the latter half of the fiscal year.
Additionally, Plexus Corp’s shareholders recently approved all board nominees and executive compensation at their 2025 Annual Meeting, and PricewaterhouseCoopers LLP was ratified as the independent auditor. Stifel analysts initiated coverage with a Hold rating and a $152 price target, acknowledging the company’s strategic positioning in diverse markets. Plexus’s commitment to maintaining strong operating margins and securing new program wins amidst uneven demand recovery was noted by analysts. The company’s strategic focus on domestic and near-shore manufacturing is expected to enhance supply chain security and support long-term revenue growth.
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