Brokerages Set Plexus Corp. (NASDAQ:PLXS) PT at $147.25

Plexus Corp. (NASDAQ:PLXS) has received an average recommendation of “Moderate Buy” from the four analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $159.00.

A number of brokerages have recently commented on PLXS. Benchmark boosted their price target on Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, October 28th. Stifel Nicolaus upped their price target on Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th. Needham & Company LLC raised their price target on shares of Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, KeyCorp assumed coverage on shares of Plexus in a research report on Tuesday, October 22nd. They issued a “sector weight” rating for the company.

Insider Transactions at Plexus

In other news, insider Victor (Pang Hau) Tan sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $165.90, for a total value of $497,700.00. Following the completion of the sale, the insider now directly owns 5,605 shares of the company’s stock, valued at $929,869.50. This trade represents a 34.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael J. Running sold 539 shares of Plexus stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $155.87, for a total value of $84,013.93. Following the transaction, the insider now owns 1,030 shares of the company’s stock, valued at $160,546.10. This represents a 34.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,091 shares of company stock worth $5,377,960 in the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Plexus

Hedge funds have recently added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN increased its holdings 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 last quarter. Earnest Partners LLC grew its stake in Plexus by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 788,196 shares of the technology company’s stock valued at $81,326,000 after buying an additional 23,074 shares during the last quarter. Geode Capital Management LLC raised its holdings in Plexus by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company’s stock valued at $89,392,000 after acquiring an additional 4,926 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Plexus by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 421,903 shares of the technology company’s stock worth $57,678,000 after acquiring an additional 2,886 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Plexus by 3.9% during the third quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company’s stock worth $27,367,000 after acquiring an additional 7,483 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Stock Performance

Shares of PLXS stock opened at $163.47 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51. Plexus has a 52 week low of $90.18 and a 52 week high of $170.07. The company’s 50 day moving average price is $160.46 and its two-hundred day moving average price is $136.85. The company has a market capitalization of $4.43 billion, a P/E ratio of 40.77 and a beta of 0.91.

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

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.