Plexus (NASDAQ:PLXS) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other equities analysts have also commented on PLXS. ValuEngine raised Plexus from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $70.00 price target on shares of Plexus in a report on Friday, July 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $69.25.

Plexus stock opened at $61.34 on Friday. Plexus has a one year low of $53.21 and a one year high of $66.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.11 and a quick ratio of 1.05. The firm has a market capitalization of $1.97 billion, a PE ratio of 18.93 and a beta of 0.71.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, July 18th. The technology company reported $0.79 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.03). Plexus had a positive return on equity of 11.37% and a negative net margin of 1.11%. The company had revenue of $726.39 million during the quarter, compared to the consensus estimate of $721.08 million. During the same period in the previous year, the business earned $0.74 earnings per share. Plexus’s revenue was up 17.4% on a year-over-year basis. analysts anticipate that Plexus will post 3.15 EPS for the current fiscal year.

In related news, CEO Todd P. Kelsey sold 14,250 shares of Plexus stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $61.22, for a total transaction of $872,385.00. Following the completion of the sale, the chief executive officer now owns 75,031 shares of the company’s stock, valued at $4,593,397.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Dean A. Foate sold 34,900 shares of Plexus stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $61.47, for a total value of $2,145,303.00. Following the sale, the chairman now directly owns 303,440 shares of the company’s stock, valued at approximately $18,652,456.80. The disclosure for this sale can be found here. Insiders have sold 122,830 shares of company stock valued at $7,596,700 in the last three months. 3.70% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Plexus by 3.9% during the second quarter. BlackRock Inc. now owns 4,511,927 shares of the technology company’s stock valued at $268,640,000 after buying an additional 167,870 shares during the period. Franklin Resources Inc. boosted its stake in Plexus by 2.3% during the first quarter. Franklin Resources Inc. now owns 1,219,654 shares of the technology company’s stock valued at $72,850,000 after buying an additional 27,654 shares during the period. Northern Trust Corp boosted its stake in Plexus by 0.3% during the first quarter. Northern Trust Corp now owns 1,026,709 shares of the technology company’s stock valued at $61,325,000 after buying an additional 2,585 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in Plexus by 11.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 979,629 shares of the technology company’s stock valued at $58,513,000 after buying an additional 100,635 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Plexus by 84.4% during the second quarter. Victory Capital Management Inc. now owns 723,178 shares of the technology company’s stock valued at $43,058,000 after buying an additional 330,937 shares during the period. 97.29% of the stock is owned by institutional investors.

Plexus Company Profile

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.

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