Plexus (NASDAQ:PLXS) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, December 16th.
Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. upgraded Plexus from a “neutral” rating to an “overweight” rating and set a $62.00 price target on the stock in a research note on Monday, August 28th. ValuEngine upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Zacks Investment Research lowered Plexus from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Stifel Nicolaus restated a “hold” rating and set a $54.00 price objective on shares of Plexus in a research report on Tuesday, September 12th. Finally, Citigroup lifted their target price on Plexus from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Plexus currently has a consensus rating of “Hold” and a consensus target price of $57.86.
Shares of Plexus (PLXS) traded up $0.79 during midday trading on Friday, reaching $64.55. The company’s stock had a trading volume of 165,954 shares, compared to its average volume of 127,269. The firm has a market cap of $2,160.00, a PE ratio of 19.92 and a beta of 0.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.78 and a quick ratio of 1.06. Plexus has a 52-week low of $49.06 and a 52-week high of $65.54.
In other Plexus news, Chairman Dean A. Foate sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was 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 of the company’s stock, valued at approximately $17,444,989.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Dean A. Foate sold 12,300 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $63.41, for a total value of $779,943.00. Following the sale, the chairman now directly owns 295,220 shares of the company’s stock, valued at $18,719,900.20. The disclosure for this sale can be found here. Insiders have sold a total of 205,696 shares of company stock valued at $12,706,971 over the last three months. Corporate insiders own 3.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in PLXS. Riverhead Capital Management LLC grew its holdings 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 purchasing an additional 966 shares during the period. Appleton Group LLC bought a new position in Plexus during the third quarter valued at $201,000. Neuberger Berman Group LLC lifted its position in shares of Plexus by 0.8% during the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after acquiring an additional 31 shares in the last quarter. Amalgamated Bank lifted its position in shares of Plexus by 1.4% during the second quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock worth $241,000 after acquiring an additional 65 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Plexus during the second quarter worth $263,000. 93.45% of the stock is owned by institutional investors and hedge funds.
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.
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