KeyCorp Initiates Coverage on Plexus (NASDAQ:PLXS)

Stock analysts at KeyCorp began coverage on shares of Plexus (NASDAQ:PLXS) in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “sector weight” rating on the technology company’s stock.

Several other research firms have also recently issued reports on PLXS. Benchmark reiterated a “buy” rating and issued a $150.00 price target on shares of Plexus in a report on Monday. Needham & Company LLC raised their target price on shares of Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $125.25.

Plexus Trading Up 0.6 %

Shares of NASDAQ PLXS opened at $135.57 on Tuesday. Plexus has a 1-year low of $87.21 and a 1-year high of $139.98. The company has a 50-day moving average of $130.05 and a two-hundred day moving average of $115.62. The company has a market cap of $3.69 billion, a PE ratio of 34.15 and a beta of 0.89. The company has a current ratio of 1.47, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.17. The firm had revenue of $960.70 million for the quarter, compared to the consensus estimate of $981.32 million. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 EPS. As a group, equities analysts expect that Plexus will post 3.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Plexus news, Director Karen Marie Rapp sold 500 shares of the stock in a transaction dated 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 filing with the SEC, which can be accessed through the SEC website. In other Plexus news, Director Karen Marie Rapp sold 500 shares of the company’s stock in a transaction that occurred on 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victor (Pang Hau) Tan sold 1,000 shares of Plexus stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total transaction of $127,500.00. Following the transaction, the insider now directly owns 8,605 shares in the company, valued at approximately $1,097,137.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,113 shares of company stock valued at $2,541,394 over the last three months. Company insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Plexus

Large investors have recently made changes to their positions in the stock. American Century Companies Inc. grew its holdings in shares of Plexus by 204.3% during the second quarter. American Century Companies Inc. now owns 158,032 shares of the technology company’s stock worth $16,306,000 after buying an additional 106,103 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Plexus by 8.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock valued at $111,366,000 after purchasing an additional 87,574 shares during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Plexus by 28.8% in the first quarter. Westfield Capital Management Co. LP now owns 384,248 shares of the technology company’s stock valued at $36,434,000 after purchasing an additional 85,986 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Plexus by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after purchasing an additional 74,988 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Plexus by 158.0% during the third quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company’s stock worth $11,289,000 after purchasing an additional 50,564 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

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.