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

Shares of Plexus Corp. (NASDAQ:PLXS) have been given a consensus recommendation of “Hold” by the five analysts that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $147.25.

PLXS has been the topic of several recent analyst reports. Stifel Nicolaus upped their price target on Plexus from $136.00 to $150.00 and gave the company a “hold” rating in a research report on Tuesday. StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Benchmark increased their price target on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. KeyCorp initiated coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Finally, Needham & Company LLC increased their target price on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th.

Plexus Stock Performance

Shares of PLXS opened at $166.11 on Wednesday. Plexus has a one year low of $90.18 and a one year high of $170.07. The company has a 50-day moving average of $152.87 and a two-hundred day moving average of $129.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 41.42 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 EPS. On average, equities research analysts expect that Plexus will post 6.14 earnings per share for the current year.

Insider Activity at Plexus

In other Plexus news, CFO Patrick John Jermain sold 5,045 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $143.13, for a total value of $722,090.85. Following the completion of the sale, the chief financial officer now owns 24,602 shares of the company’s stock, valued at $3,521,284.26. The trade was a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total value of $448,863.47. Following the sale, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at approximately $5,093,223.37. This trade represents a 8.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,591 shares of company stock valued at $5,143,375. 2.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Plexus

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLXS. Disciplined Growth Investors Inc. MN raised its position in shares of Plexus by 2.8% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock valued at $296,457,000 after purchasing an additional 59,465 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Plexus by 8.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock worth $111,366,000 after acquiring an additional 87,574 shares during the period. Earnest Partners LLC raised its holdings in Plexus by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 788,196 shares of the technology company’s stock worth $81,326,000 after acquiring an additional 23,074 shares during the period. Geode Capital Management LLC lifted its position in Plexus by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company’s stock worth $89,392,000 after acquiring an additional 4,926 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Plexus by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 453,308 shares of the technology company’s stock valued at $46,772,000 after acquiring an additional 31,099 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.