Plexus (NASDAQ:PLXS) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Plexus (NASDAQ:PLXS) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC boosted their price objective on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Benchmark boosted their price objective on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, KeyCorp started coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Plexus has a consensus rating of “Hold” and a consensus target price of $133.50.

Plexus Price Performance

PLXS opened at $165.97 on Wednesday. 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 has a 52-week low of $90.18 and a 52-week high of $169.41. The company has a 50 day moving average of $136.01 and a two-hundred day moving average of $120.28. The company has a market cap of $4.52 billion, a P/E ratio of 41.39 and a beta of 0.87.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) 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 company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. Plexus’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts expect that Plexus will post 6.2 earnings per share for the current year.

Insider Buying and Selling at Plexus

In other news, 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 $3,728,379.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Steven J. Frisch sold 6,048 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $123.99, for a total value of $749,891.52. Following the transaction, the insider now owns 30,070 shares in the company, valued at approximately $3,728,379.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Oliver K. Mihm sold 5,691 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total value of $950,738.46. Following the completion of the transaction, the chief operating officer now owns 19,585 shares in the company, valued at $3,271,870.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,021 shares of company stock valued at $6,285,388. 2.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Plexus

Hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC increased its holdings in Plexus by 36,700.0% in 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 position in Plexus during the second quarter valued at approximately $51,000. Farther Finance Advisors LLC grew its holdings in Plexus by 89.4% during the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock valued at $63,000 after purchasing an additional 219 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Plexus by 85.0% during the third quarter. Advisors Asset Management Inc. now owns 664 shares of the technology company’s stock valued at $91,000 after purchasing an additional 305 shares during the last quarter. Finally, 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 last quarter. 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.