Plexus Corp (NASDAQ:PLXS) CEO Todd Kelsey has recently sold a significant portion of his stock in the company. According to the latest filings, Kelsey sold shares at prices ranging from $107.95 to $108.00, totaling over $348,130.
The transactions took place on two separate dates, with 2,000 shares sold on May 10th and 1,224 shares on May 14th. Following these sales, Kelsey's direct ownership in Plexus Corp. stands at 104,338 shares. Notably, the shares sold were not part of Kelsey's holdings in the Plexus Corp. 401(k) Retirement Plan, which are held separately as indicated by the footnotes in the filing.
Plexus Corp., headquartered in Neenah, Wisconsin, specializes in printed circuit boards and is a key player in the manufacturing sector. The sales by the CEO come at a time when the company's stock is trading around the price points at which the sales occurred.
Investors often monitor insider transactions such as these for insights into executive sentiment regarding their company's stock performance. However, such transactions can occur for a variety of reasons and may not necessarily reflect the executive's outlook on the company's future.
The disclosed transactions are part of the routine filings with the Securities and Exchange Commission, providing transparency into the trading activities of the company's executives. Todd Kelsey's recent sales represent a notable change in his investment in Plexus Corp., and the market will be watching closely for any further developments.
InvestingPro Insights
Amidst the news of Plexus Corp (NASDAQ:PLXS) CEO Todd Kelsey's stock sale, current and prospective investors may be seeking deeper insights into the company's financial health and market performance. According to InvestingPro data, Plexus Corp has a market capitalization of approximately $2.96 billion and is trading with a Price-to-Earnings (P/E) ratio of 29.25, which adjusts to 22.57 when considering the last twelve months as of Q2 2024. This could suggest that investors are expecting future earnings growth, despite the recent stock sale by the CEO.
InvestingPro Tips highlight that analysts have revised their earnings upwards for the upcoming period, which could indicate a positive outlook on the company's financial performance. Additionally, the stock is currently trading near its 52-week high, at 94.79% of the peak price, reflecting strong investor confidence. Plexus Corp's stock price has seen a 1-month total return of 12.16% and a 3-month total return of 12.73%, demonstrating robust short-term performance.
However, it's important to note that the Relative Strength Index (RSI) suggests the stock is in overbought territory, which could signal a potential pullback. Moreover, the company is operating with a moderate level of debt and does not pay a dividend, which might be relevant considerations for income-focused investors. With these factors in mind, individuals interested in a more comprehensive analysis may explore additional InvestingPro Tips for Plexus Corp at https://www.investing.com/pro/PLXS. There are a total of 9 InvestingPro Tips available, offering a more nuanced understanding of the company's financial status and stock performance.
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