Plexus (NASDAQ:PLXS) Upgraded at Fox Advisors

Fox Advisors upgraded shares of Plexus (NASDAQ:PLXS) from an equal weight rating to an overweight rating in a research note released on Monday, MarketBeat.com reports.

Other analysts have also issued reports about the stock. KeyCorp raised shares of Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 price objective on the stock in a research report on Monday, September 21st. Sidoti raised shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price objective for the company in a research note on Friday, July 31st. Wall Street Zen upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Sunday. Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $310.00 price target on shares of Plexus in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $276.86.

Plexus Stock Down 4.6%

Shares of PLXS opened at $206.72 on Monday. The company has a market cap of $5.53 billion, a PE ratio of 27.86 and a beta of 0.97. The business has a fifty day moving average of $245.04 and a 200 day moving average of $239.97. Plexus has a 52-week low of $132.03 and a 52-week high of $307.06. The company has a quick ratio of 0.67, a current ratio of 1.43 and a debt-to-equity ratio of 0.05.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, October 28th. The technology company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.29. Plexus had a net margin of 4.08% and a return on equity of 13.34%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the business posted $2.14 earnings per share. The business’s revenue was up 34.9% compared to the same quarter last year. On average, sell-side analysts expect that Plexus will post 9.02 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael V. Schrock sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $275.00, for a total transaction of $1,100,000.00. Following the transaction, the director owned 40,329 shares in the company, valued at approximately $11,090,475. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $239.16, for a total value of $358,740.00. Following the completion of the sale, the chief executive officer owned 62,888 shares of the company’s stock, valued at $15,040,294.08. The trade was a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 9,000 shares of company stock worth $2,319,260. 1.78% of the stock is currently owned by company insiders.

Institutional Trading of Plexus

A number of hedge funds have recently added to or reduced their stakes in the business. Lido Advisors LLC bought a new stake in Plexus during the 3rd quarter valued at $592,000. Leuthold Group LLC increased its holdings in shares of Plexus by 9.6% in the 3rd quarter. Leuthold Group LLC now owns 27,470 shares of the technology company’s stock valued at $7,168,000 after acquiring an additional 2,416 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Plexus by 2.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 32,319 shares of the technology company’s stock valued at $8,735,000 after acquiring an additional 801 shares during the period. StoneRidge PMG Advisors LLC purchased a new position in shares of Plexus in the 3rd quarter valued at $399,000. Finally, Ethic Inc. raised its position in shares of Plexus by 40.1% in the 3rd quarter. Ethic Inc. now owns 1,107 shares of the technology company’s stock worth $289,000 after acquiring an additional 317 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Company Profile

Plexus Corp. is an electronics manufacturing services company that helps customers design, develop, manufacture and service complex electronic products. The company provides an integrated product-realization process spanning engineering and design, supply-chain management, manufacturing, testing, logistics and aftermarket services.

Plexus supports original equipment manufacturers in industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.