Plexus Corp (NASDAQ:PLXS) President & Chief Strategy Officer Steven J. Frisch recently sold a significant portion of his holdings in the company. According to the latest filings, Frisch sold a total of 6,805 shares of Plexus Corp common stock, netting over $729,000.
The transactions occurred on two consecutive days, with shares sold at weighted average prices that varied slightly each day. On May 9, 2024, Frisch sold 2,398 shares at an average price of $106.7192 per share and another 402 shares at $107.3763. The next day, he sold an additional 4,005 shares at an average price of $107.5538. These sales were executed in multiple trades, with prices ranging from $106.32 to $107.80 per share, reflecting the market's fluctuations during the period of transactions.
Following these sales, Frisch still retains 49,308 shares of Plexus Corp, signifying a continued investment in the company's future. The transactions were disclosed in accordance with the Securities and Exchange Commission regulations that mandate corporate insiders to report their trading activities.
For investors monitoring insider activity as a signal of corporate health and executive confidence, these sales may be of interest. However, it's important to consider that insider transactions can be motivated by a variety of factors and may not necessarily reflect a bearish stance on the company's prospects.
Plexus Corp, headquartered in Neenah, Wisconsin, is known for its role in the printed circuit boards industry. The company's shares are publicly traded, and its financial performance is closely watched by investors and market analysts. As of the date of the report, Plexus Corp has not issued any official statement regarding these transactions.
InvestingPro Insights
Plexus Corp (NASDAQ:PLXS) has been under the investor's microscope following the sale of shares by its President & Chief Strategy Officer, Steven J. Frisch. While insider selling can often raise questions about a company's future prospects, it's essential to consider the broader financial context provided by real-time data and expert analysis.
InvestingPro Data reveals that Plexus has a market capitalization of approximately $2.94 billion, with a Price-to-Earnings (P/E) ratio of 29.24, indicating investors' valuation of the company's earnings. The adjusted P/E ratio for the last twelve months as of Q2 2024 stands at a lower 22.38, suggesting a more favorable earnings perspective in recent times. However, the company's revenue has seen a decline, with a decrease of 6.44% over the last twelve months as of Q2 2024.
InvestingPro Tips highlight that analysts have recently revised their earnings estimates upwards for the upcoming period, which could signal confidence in Plexus's ability to grow its profits. Moreover, the stock has been trading near its 52-week high, with a price percentage of 52-week high at 93.99%, and has shown strong returns over the last month and three months, at 12.93% and 15.74% respectively. These metrics suggest a robust short-term performance, which may be of interest to momentum investors.
Investors should note that Plexus operates with a moderate level of debt and does not pay a dividend, which could influence investment strategies focused on income or lower leverage. Additionally, the stock's low price volatility could appeal to those looking for stability in their investments.
For a deeper dive into Plexus Corp's financials and to discover more InvestingPro Tips, interested readers can explore the full range of insights at https://www.investing.com/pro/PLXS. Currently, there are over ten additional tips listed on InvestingPro, providing a comprehensive analysis for informed investment decisions. Remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enriching your investment strategy with expert insights and real-time data.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.