Plexus (NASDAQ:PLXS) Stock Rating Upgraded by Wall Street Zen

by · The Cerbat Gem

Plexus (NASDAQ:PLXS – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Monday.

Several other analysts also recently commented on PLXS. Stifel Nicolaus set a $145.00 target price on Plexus in a research note on Thursday, April 24th. Benchmark reaffirmed a “buy” rating and set a $160.00 price objective on shares of Plexus in a research report on Wednesday, June 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $162.00 price objective (down from $172.00) on shares of Plexus in a report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.67.

Get Our Latest Research Report on Plexus

Plexus Stock Up 1.1%

NASDAQ:PLXS opened at $136.76 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.53. The firm has a market cap of $3.70 billion, a P/E ratio of 26.61 and a beta of 0.80. Plexus has a fifty-two week low of $102.00 and a fifty-two week high of $172.89. The firm has a 50-day simple moving average of $130.79 and a two-hundred day simple moving average of $136.71.

Plexus (NASDAQ:PLXS – Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.12. The firm had revenue of $980.17 million for the quarter, compared to analysts’ expectations of $980.07 million. Plexus had a net margin of 3.60% and a return on equity of 11.17%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 earnings per share. Analysts predict that Plexus will post 5.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $129.87, for a total value of $194,805.00. Following the transaction, the chief executive officer directly owned 75,214 shares in the company, valued at $9,768,042.18. This trade represents a 1.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Patrick John Jermain sold 4,328 shares of Plexus stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $132.29, for a total value of $572,551.12. Following the completion of the sale, the chief financial officer directly owned 25,637 shares of the company’s stock, valued at $3,391,518.73. The trade was a 14.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,032 shares of company stock valued at $1,582,222 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Plexus

Several hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in shares of Plexus by 72.2% in the fourth quarter. American Century Companies Inc. now owns 544,017 shares of the technology company’s stock worth $85,128,000 after buying an additional 228,027 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Plexus by 120.4% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 348,510 shares of the technology company’s stock worth $44,655,000 after acquiring an additional 190,360 shares during the period. Nuveen LLC purchased a new position in shares of Plexus during the 1st quarter worth $22,975,000. GAMMA Investing LLC grew its position in shares of Plexus by 19,069.1% during the 1st quarter. GAMMA Investing LLC now owns 170,797 shares of the technology company’s stock valued at $21,884,000 after acquiring an additional 169,906 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Plexus by 146.9% during the 4th quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company’s stock valued at $40,501,000 after acquiring an additional 154,003 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

About Plexus

(Get Free Report)

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.

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