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 Monday morning.

Several other research analysts also recently weighed in on the stock. Needham & Company LLC upped their price target on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Benchmark upped their price objective on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, KeyCorp assumed coverage on shares of Plexus in a research note on Tuesday, October 22nd. They set a “sector weight” rating for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $133.50.

Plexus Stock Down 0.7 %

PLXS opened at $156.65 on Monday. Plexus has a twelve month low of $90.18 and a twelve month high of $169.41. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $141.58 and a 200 day moving average price of $123.42. The company has a market cap of $4.27 billion, a PE ratio of 39.06 and a beta of 0.87.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results 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. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Sell-side analysts expect that Plexus will post 6.13 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Victor (Pang Hau) Tan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $127.50, for a total transaction of $127,500.00. Following the completion of the transaction, the insider now owns 8,605 shares of the company’s stock, valued at approximately $1,097,137.50. This trade represents a 10.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karen Marie Rapp sold 500 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $128.02, for a total transaction of $64,010.00. Following the transaction, the director now directly owns 9,586 shares of the company’s stock, valued at $1,227,199.72. The trade was a 4.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,552 shares of company stock valued at $5,250,872 in the last 90 days. Company insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On Plexus

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP lifted its holdings in Plexus by 573.5% during the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after buying an additional 195 shares in the last quarter. Quest Partners LLC lifted its holdings in Plexus by 36,700.0% during the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after buying an additional 367 shares in the last quarter. Innealta Capital LLC acquired a new stake in Plexus during the 2nd quarter worth approximately $51,000. Point72 DIFC Ltd acquired a new stake in Plexus during the 3rd quarter worth approximately $51,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Plexus during the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors 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.