In a recent series of stock transactions, Plexus (NASDAQ:PLXS) Corp's President & Chief Strategy Officer, Steven J. Frisch, sold a significant number of shares in the company. The sales, which occurred on May 6, 7, and 8, totaled over $623,000. Investors tracking insider activity may note that the shares were sold at prices ranging from $106.1153 to $108.1943.
On May 6, Frisch sold 2,554 shares of NASDAQ:PLXS at an average price of $106.1153, with the transaction executed in multiple trades between $106.00 and $106.40 per share. The following day, an additional 2,600 shares were sold at an average price of $106.5268, within a range of $106.39 to $106.83 per share. The selling continued on May 8, with 700 shares disposed of at an average price of $108.1943, in trades ranging narrowly from $108.19 to $108.195 per share.
After these transactions, Frisch's holdings in Plexus Corp decreased but still amounted to a substantial 56,113 shares. The sales have been publicly reported in accordance with SEC regulations, providing transparency to investors and the market.
As with all insider transactions, these sales are closely watched by the investment community for insights into executive sentiment and potential future performance of the company's stock. Plexus Corp, known for its expertise in printed circuit boards, is a key player in the manufacturing sector with a significant presence in Neenah, Wisconsin.
InvestingPro Insights
Recent insider trading at Plexus Corp has caught the attention of market watchers, as Steven J. Frisch, the President & Chief Strategy Officer, sold shares worth over $623,000. This activity coincides with Plexus Corp trading near its 52-week high, with the price at the previous close standing at $106.42. The company's stock performance has been robust, with a 1-year price total return of 23.96%.
From an analytical perspective, the InvestingPro Tips suggest a mixed outlook. On the one hand, two analysts have revised their earnings estimates upwards for the upcoming period, indicating potential optimism about the company's financial prospects. On the other hand, the stock is currently in overbought territory according to the Relative Strength Index (RSI), which may signal a pullback in the near term. Investors considering Plexus Corp should note that the company has been profitable over the last twelve months, despite weak gross profit margins of 9.18% as of the last twelve months ending Q2 2024.
Key InvestingPro Data metrics for Plexus Corp include a P/E ratio of 28.95 and an adjusted P/E ratio for the last twelve months as of Q2 2024 at 22.34. The company's market capitalization stands at $2.93 billion, reflecting its position in the manufacturing sector. Although the company does not pay a dividend, its financial health is supported by a moderate level of debt, which may appeal to certain investors.
To gain deeper insights and additional InvestingPro Tips on Plexus Corp, which can guide investment decisions, visit https://www.investing.com/pro/PLXS. There are currently 9 additional tips available on InvestingPro. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, for comprehensive financial analysis and real-time data.
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