Plexus (NASDAQ:PLXS) Upgraded at StockNews.com

StockNews.com upgraded shares of Plexus (NASDAQ:PLXS) from a hold rating to a buy rating in a research report released on Tuesday morning.

PLXS has been the subject of a number of other reports. Needham & Company LLC upped their price target on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 25th. KeyCorp initiated coverage on Plexus in a research note on Tuesday, October 22nd. They set a “sector weight” rating for the company. Finally, Benchmark increased their target price on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Plexus has an average rating of “Moderate Buy” and an average price target of $133.50.

Plexus Stock Performance

Shares of NASDAQ:PLXS opened at $144.10 on Tuesday. The stock has a market capitalization of $3.92 billion, a P/E ratio of 35.94 and a beta of 0.89. Plexus has a 1-year low of $90.18 and a 1-year high of $153.60. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $132.02 and a two-hundred day moving average price of $117.29.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 EPS. Equities analysts predict that Plexus will post 6.2 earnings per share for the current year.

Insiders Place Their Bets

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total transaction of $448,863.47. Following the completion of the transaction, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at $5,093,223.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total value of $448,863.47. Following the completion of the sale, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at approximately $5,093,223.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven J. Frisch sold 6,048 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $123.99, for a total value of $749,891.52. Following the completion of the sale, the insider now directly owns 30,070 shares of the company’s stock, valued at approximately $3,728,379.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,706 shares of company stock valued at $2,486,106 in the last quarter. 2.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plexus

Several large investors have recently made changes to their positions in PLXS. BNP Paribas Financial Markets boosted its holdings in shares of Plexus by 13.8% in the 1st quarter. BNP Paribas Financial Markets now owns 25,424 shares of the technology company’s stock valued at $2,411,000 after buying an additional 3,087 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in Plexus in the 1st quarter valued at $216,000. Farrow Financial Inc. raised its stake in Plexus by 7.3% in the 1st quarter. Farrow Financial Inc. now owns 21,370 shares of the technology company’s stock valued at $2,026,000 after acquiring an additional 1,446 shares during the period. Texas Permanent School Fund Corp increased its position in Plexus by 1.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 24,166 shares of the technology company’s stock worth $2,291,000 after buying an additional 426 shares during the period. Finally, Quantbot Technologies LP bought a new position in Plexus during the 1st quarter worth $533,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

About Plexus

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.