S&P 500 may face selling pressure as systematic funds reach full exposure
In a recent SEC filing, Plexus Corp (NASDAQ:PLXS) Executive Vice President Angelo Michael Ninivaggi Jr. disclosed the sale of 5,742 shares of common stock. The transactions, executed on February 14, were carried out at prices ranging from $138.35 to $140.245 per share. The total value of the shares sold amounted to approximately $799,566. The stock has shown impressive performance with a 46% return over the past year, despite recent weakness. According to InvestingPro analysis, Plexus maintains a perfect Piotroski Score of 9, indicating strong financial health.
Following these transactions, Ninivaggi holds 28,191 shares in the company. The sales were conducted in multiple trades, with the weighted average sale prices reported as $138.7896 and $139.696 per share. For investors seeking deeper insights, InvestingPro offers 8 additional key tips about Plexus’s financial position and market outlook. Plexus Corp is based in Neenah, Wisconsin, and operates in the printed circuit boards industry, with a market capitalization of $3.8 billion and strong free cash flow yield.
In other recent news, Plexus Corp has seen a flurry of activity. The company’s shareholders approved all board nominees, executive compensation, and the ratification of PricewaterhouseCoopers LLP as the independent auditor for fiscal 2025. This decision was made during the 2025 Annual Meeting of Shareholders, demonstrating Plexus Corp’s commitment to corporate governance and transparency.
In terms of analyst ratings, Stifel initiated coverage on Plexus Corp with a Hold rating and a price target of $152. This coverage is based on Plexus’ strategic positioning in diverse end markets and its focus on profitability. Similarly, Benchmark maintained a Buy rating for Plexus, despite a less optimistic outlook for the second quarter due to volatility in certain market sectors.
Raymond (NSE:RYMD) James and Needham also adjusted their price targets for Plexus to $165 and $172, respectively. These adjustments were influenced by Plexus’ strong performance in the December quarter and its ability to maintain better-than-anticipated margins. Despite a less optimistic outlook for the second quarter, both firms expressed confidence in Plexus’ ability to navigate market challenges and leverage industry shifts.
These are among the recent developments for Plexus Corp, as it continues to navigate a competitive landscape and meet its financial objectives.
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