Plexus (NASDAQ:PLXS) was upgraded by equities research analysts at Longbow Research from a “neutral” rating to a “buy” rating in a report released on Monday, The Fly reports.
A number of other brokerages also recently weighed in on PLXS. Zacks Investment Research downgraded shares of Plexus from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Citigroup upped their price objective on shares of Plexus from $59.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, October 27th. BidaskClub downgraded shares of Plexus from a “hold” rating to a “sell” rating in a report on Saturday, December 16th. ValuEngine raised shares of Plexus from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, JPMorgan Chase & Co. downgraded shares of Plexus from an “overweight” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. Plexus currently has an average rating of “Hold” and an average target price of $57.86.
Plexus (PLXS) opened at $62.22 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2,093.21, a PE ratio of 19.20 and a beta of 0.88. Plexus has a fifty-two week low of $49.06 and a fifty-two week high of $64.12.
In related news, CAO Angelo Michael Ninivaggi, Jr. sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $61.58, for a total value of $985,280.00. Following the transaction, the chief accounting officer now directly owns 18,159 shares in the company, valued at $1,118,231.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Yong Jin Lim sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $63.07, for a total transaction of $630,700.00. Following the completion of the transaction, the insider now owns 58,890 shares in the company, valued at $3,714,192.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 205,696 shares of company stock worth $12,706,971. Insiders own 3.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of PLXS. Riverhead Capital Management LLC grew its position in Plexus by 69.0% during the second quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock valued at $124,000 after acquiring an additional 966 shares during the last quarter. Appleton Group LLC bought a new position in Plexus during the third quarter valued at approximately $201,000. Neuberger Berman Group LLC grew its position in Plexus by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock valued at $202,000 after acquiring an additional 31 shares during the last quarter. Amalgamated Bank grew its position in Plexus by 1.4% during the second quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock valued at $241,000 after acquiring an additional 65 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in Plexus during the second quarter valued at approximately $263,000. Institutional investors own 93.45% of the company’s stock.
Plexus Company Profile
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
