Plexus (NASDAQ:PLXS) was upgraded by analysts at Longbow Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, MarketBeat reports.

A number of other equities analysts have also weighed in on the stock. ValuEngine raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. BidaskClub lowered shares of Plexus from a “hold” rating to a “sell” rating in a research note on Saturday, December 16th. Zacks Investment Research lowered shares of Plexus from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Citigroup upped their target price on shares of Plexus from $59.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Finally, JPMorgan Chase & Co. cut shares of Plexus from an “overweight” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $57.86.

Shares of Plexus (NASDAQ PLXS) traded down $0.59 during midday trading on Monday, reaching $64.53. 199,400 shares of the company were exchanged, compared to its average volume of 130,117. The firm has a market cap of $2,150.00, a price-to-earnings ratio of 19.92 and a beta of 0.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.06 and a current ratio of 1.78. Plexus has a 12-month low of $49.06 and a 12-month high of $65.54.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, October 25th. The technology company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.02. The firm had revenue of $670.00 million during the quarter, compared to analyst estimates of $676.23 million. Plexus had a net margin of 4.43% and a return on equity of 11.48%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 EPS. analysts expect that Plexus will post 3.41 earnings per share for the current fiscal year.

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 16,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $61.58, for a total transaction of $985,280.00. Following the sale, the chief accounting officer now directly owns 18,159 shares of the company’s stock, valued at approximately $1,118,231.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Dean A. Foate sold 1,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $60.38, for a total transaction of $60,380.00. Following the completion of the sale, the chairman now directly owns 288,920 shares in the company, valued at $17,444,989.60. The disclosure for this sale can be found here. Insiders have sold a total of 205,696 shares of company stock worth $12,706,971 over the last three months. Insiders own 3.70% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Mutual of America Capital Management LLC raised its holdings in shares of Plexus by 2.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 68,101 shares of the technology company’s stock valued at $3,819,000 after purchasing an additional 1,861 shares during the period. Disciplined Growth Investors Inc. MN raised its holdings in shares of Plexus by 0.5% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 3,038,867 shares of the technology company’s stock valued at $159,753,000 after purchasing an additional 16,329 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Plexus by 3.8% in the 2nd quarter. Principal Financial Group Inc. now owns 282,731 shares of the technology company’s stock valued at $14,864,000 after purchasing an additional 10,388 shares during the period. Brandywine Global Investment Management LLC bought a new stake in shares of Plexus in the 2nd quarter valued at about $5,016,000. Finally, FMR LLC raised its holdings in shares of Plexus by 546.1% in the 2nd quarter. FMR LLC now owns 1,111,655 shares of the technology company’s stock valued at $58,440,000 after purchasing an additional 939,589 shares during the period. 93.45% of the stock is currently owned by institutional investors.

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About Plexus

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.

Analyst Recommendations for Plexus (NASDAQ:PLXS)

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