Plexus Corp. (NASDAQ:PLXS) Receives $147.25 Average Target Price from Brokerages

Plexus Corp. (NASDAQ:PLXS) has been assigned a consensus rating of “Hold” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $147.25.

A number of brokerages recently weighed in on PLXS. Stifel Nicolaus raised their price target on shares of Plexus from $136.00 to $150.00 and gave the company a “hold” rating in a report on Tuesday. KeyCorp started coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating for the company. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Benchmark lifted their price objective on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Needham & Company LLC upped their price objective on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 25th.

Insider Activity

In other news, insider Michael J. Running sold 539 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $155.87, for a total transaction of $84,013.93. Following the completion of the transaction, the insider now directly owns 1,030 shares of the company’s stock, valued at $160,546.10. The trade was a 34.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patrick John Jermain sold 5,045 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $143.13, for a total transaction of $722,090.85. Following the completion of the sale, the chief financial officer now owns 24,602 shares in the company, valued at $3,521,284.26. This represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,591 shares of company stock worth $5,143,375 over the last three months. 2.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Plexus

Several hedge funds and other institutional investors have recently made changes to their positions in PLXS. Quarry LP boosted its holdings in shares of Plexus by 573.5% in the third quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after buying an additional 195 shares during the last quarter. Quest Partners LLC grew its position in shares of Plexus by 36,700.0% during the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after acquiring an additional 367 shares during the period. Innealta Capital LLC purchased a new stake in shares of Plexus in the 2nd quarter worth $51,000. Point72 DIFC Ltd bought a new position in Plexus in the 3rd quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Plexus during the third quarter valued at $55,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Trading Down 1.4 %

Shares of Plexus stock opened at $166.11 on Wednesday. Plexus has a 1 year low of $90.18 and a 1 year high of $170.07. The company’s fifty day simple moving average is $152.87 and its 200-day simple moving average is $129.89. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 41.42 and a beta of 0.90. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.30. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business posted $1.44 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Plexus will post 6.14 EPS for the current year.

Plexus Company Profile

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.