Plexus (NASDAQ:PLXS) Coverage Initiated at KeyCorp

Stock analysts at KeyCorp initiated coverage on shares of Plexus (NASDAQ:PLXS) in a report released on Tuesday, Briefing.com reports. The firm set a “sector weight” rating on the technology company’s stock.

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

Plexus Stock Down 1.4 %

PLXS stock opened at $136.23 on Tuesday. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 37.63 and a beta of 0.89. Plexus has a twelve month low of $87.21 and a twelve month high of $139.98. The business has a 50 day moving average price of $129.43 and a two-hundred day moving average price of $115.21. 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 (NASDAQ:PLXS) last released its earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.17. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The business had revenue of $960.70 million during the quarter, compared to analysts’ expectations of $981.32 million. During the same period last year, the business earned $1.32 earnings per share. The firm’s revenue was down 6.0% on a year-over-year basis. Analysts anticipate that Plexus will post 3.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Karen Marie Rapp sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the transaction, the director now owns 9,586 shares of the company’s stock, valued at approximately $1,227,199.72. 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 other news, Director Karen Marie Rapp sold 500 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Steven J. Frisch sold 6,565 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total transaction of $841,042.15. Following the transaction, the insider now directly owns 36,118 shares in the company, valued at approximately $4,627,076.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,113 shares of company stock worth $2,541,394 over the last three months. Insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Plexus

Institutional investors have recently made changes to their positions in the stock. Quest Partners LLC raised its holdings in Plexus by 36,700.0% in the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after acquiring an additional 367 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Plexus during the 2nd quarter valued at approximately $51,000. EntryPoint Capital LLC boosted its holdings in shares of Plexus by 56.2% during the 1st quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock valued at $93,000 after acquiring an additional 351 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Plexus by 190.1% during the third quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock worth $104,000 after purchasing an additional 498 shares during the last quarter. Finally, Signaturefd LLC increased its position in Plexus by 12.0% in the 2nd quarter. Signaturefd LLC now owns 1,705 shares of the technology company’s stock valued at $176,000 after acquiring an additional 183 shares during the period. 94.45% of the stock is currently owned by institutional investors.

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.