StockNews.com Upgrades Plexus (NASDAQ:PLXS) to Buy

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

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

Plexus Price Performance

Shares of NASDAQ:PLXS opened at $147.01 on Tuesday. The company has a market cap of $4.00 billion, a PE ratio of 36.66 and a beta of 0.89. The firm has a 50-day simple moving average of $132.42 and a 200 day simple moving average of $117.47. Plexus has a fifty-two week low of $90.18 and a fifty-two week high of $153.60. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates 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 last year, the company earned $1.44 earnings per share. On average, sell-side analysts anticipate that Plexus will post 6.2 EPS for the current year.

Insider Buying and Selling at Plexus

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the company’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Plexus news, CFO Patrick John Jermain sold 5,045 shares of Plexus stock in a transaction on Monday, October 28th. The shares were sold at an average price of $143.13, for a total transaction of $722,090.85. Following the completion of the sale, the chief financial officer now owns 24,602 shares of the company’s stock, valued at approximately $3,521,284.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total value of $448,863.47. Following the completion of the transaction, the chief accounting officer now directly owns 35,323 shares in the company, valued at approximately $5,093,223.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,706 shares of company stock worth $2,486,106. Insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Plexus

A number of institutional investors have recently made changes to their positions in the stock. Quest Partners LLC boosted its holdings in Plexus by 36,700.0% during the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after buying an additional 367 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Plexus in the 2nd quarter valued at approximately $51,000. Farther Finance Advisors LLC boosted its stake in Plexus by 89.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock worth $63,000 after acquiring an additional 219 shares during the last quarter. EntryPoint Capital LLC grew its holdings in Plexus by 56.2% during the first quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock valued at $93,000 after purchasing an additional 351 shares during the period. Finally, GAMMA Investing LLC increased its stake in Plexus by 190.1% in the third quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock valued at $104,000 after purchasing an additional 498 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Plexus Company Profile

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.