Plexus (NASDAQ:PLXS) Earns Sector Weight Rating from Analysts at KeyCorp

KeyCorp assumed coverage on shares of Plexus (NASDAQ:PLXS) in a research report released on Tuesday morning, Marketbeat reports. The firm issued a sector weight rating on the technology company’s stock.

PLXS has been the subject of a number of other research reports. Benchmark restated a “buy” rating and issued a $150.00 target price on shares of Plexus in a research note on Monday. Needham & Company LLC increased their price objective on Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $125.25.

Plexus Stock Performance

NASDAQ:PLXS opened at $144.89 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. Plexus has a twelve month low of $87.21 and a twelve month high of $153.60. The stock has a market cap of $3.95 billion, a P/E ratio of 36.50 and a beta of 0.89. The firm’s fifty day simple moving average is $130.48 and its 200 day simple moving average is $115.82.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.30. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $1.44 earnings per share. Plexus’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts predict that Plexus will post 3.74 EPS for the current year.

Insider Activity at Plexus

In other news, insider Steven J. Frisch sold 6,565 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total value of $841,042.15. Following the sale, the insider now directly owns 36,118 shares of the company’s stock, valued at approximately $4,627,076.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Plexus news, insider Steven J. Frisch sold 6,048 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $123.99, for a total transaction of $749,891.52. Following the sale, the insider now directly owns 30,070 shares in the company, valued at approximately $3,728,379.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven J. Frisch sold 6,565 shares of Plexus stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total value of $841,042.15. Following the completion of the sale, the insider now directly owns 36,118 shares of the company’s stock, valued at approximately $4,627,076.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,113 shares of company stock valued at $2,541,394 in the last 90 days. Corporate insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Plexus

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Plexus by 2.2% during 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 during the period. Disciplined Growth Investors Inc. MN raised its holdings in shares of Plexus by 0.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,109,047 shares of the technology company’s stock valued at $217,611,000 after purchasing an additional 7,245 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Plexus by 8.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock valued at $111,366,000 after purchasing an additional 87,574 shares during the last quarter. Earnest Partners LLC lifted its holdings in shares of Plexus by 3.0% during the 2nd quarter. Earnest Partners LLC now owns 788,196 shares of the technology company’s stock valued at $81,326,000 after buying an additional 23,074 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Plexus by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 453,308 shares of the technology company’s stock valued at $46,772,000 after buying an additional 31,099 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

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.