Plexus (NASDAQ:PLXS) Upgraded to “Buy” by StockNews.com

Plexus (NASDAQ:PLXS) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

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

Plexus Trading Up 1.4 %

PLXS stock traded up $2.03 during midday trading on Tuesday, hitting $145.35. The stock had a trading volume of 209,146 shares, compared to its average volume of 129,666. The company’s 50-day moving average price is $131.15 and its 200 day moving average price is $116.73. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. The firm has a market cap of $3.96 billion, a PE ratio of 36.25 and a beta of 0.89. Plexus has a 12-month low of $90.18 and a 12-month high of $153.60.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share 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 net margin of 2.82% and a return on equity of 9.51%. Plexus’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $1.44 EPS. On average, equities research analysts predict that Plexus will post 5.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Plexus news, insider Victor (Pang Hau) Tan sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $127.50, for a total value of $127,500.00. Following the completion of the sale, the insider now directly owns 8,605 shares of the company’s stock, valued at approximately $1,097,137.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Victor (Pang Hau) Tan sold 1,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total value of $127,500.00. Following the completion of the transaction, the insider now owns 8,605 shares in the company, valued at $1,097,137.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $128.02, for a total transaction of $64,010.00. Following the completion of the transaction, the director now owns 9,586 shares of the company’s stock, valued at approximately $1,227,199.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,113 shares of company stock worth $2,541,394. 2.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in Plexus by 204.3% in the second quarter. American Century Companies Inc. now owns 158,032 shares of the technology company’s stock worth $16,306,000 after purchasing an additional 106,103 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Plexus by 8.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock worth $111,366,000 after acquiring an additional 87,574 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Plexus by 28.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 384,248 shares of the technology company’s stock valued at $36,434,000 after acquiring an additional 85,986 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Plexus by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock valued at $333,374,000 after acquiring an additional 74,988 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Plexus by 158.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company’s stock worth $11,289,000 after purchasing an additional 50,564 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

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.