Plexus Corp. (NASDAQ:PLXS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Plexus Corp. (NASDAQ:PLXS) have received an average rating of “Moderate Buy” from the four analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $162.33.

A number of brokerages recently weighed in on PLXS. KeyCorp initiated coverage on shares of Plexus in a research note on Tuesday, October 22nd. They issued a “sector weight” rating for the company. Needham & Company LLC increased their price objective on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, January 24th. StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Benchmark reaffirmed a “buy” rating and set a $165.00 price target on shares of Plexus in a research note on Wednesday, January 22nd. Finally, Stifel Nicolaus boosted their price objective on shares of Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a research report on Tuesday, December 10th.

Plexus Stock Down 0.8 %

NASDAQ:PLXS opened at $143.42 on Thursday. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 33.28 and a beta of 0.91. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $161.50 and a two-hundred day moving average price of $142.70. Plexus has a 1 year low of $90.18 and a 1 year high of $172.89.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a return on equity of 10.43% and a net margin of 3.03%. As a group, equities analysts expect that Plexus will post 6.13 earnings per share for the current year.

Insider Transactions at Plexus

In related news, insider Victor (Pang Hau) Tan sold 3,000 shares of the business’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 transaction of $497,700.00. Following the transaction, the insider now directly owns 5,605 shares of the company’s stock, valued at approximately $929,869.50. The trade was a 34.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Running sold 539 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $155.87, for a total value of $84,013.93. Following the sale, the insider now directly owns 1,030 shares of the company’s stock, valued at $160,546.10. This represents a 34.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,294 shares of company stock worth $4,692,906 in the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Plexus

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP boosted its holdings in shares of Plexus by 573.5% during the third quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after acquiring an additional 195 shares during the period. R Squared Ltd acquired a new stake in Plexus during the 4th quarter worth approximately $45,000. Point72 DIFC Ltd bought a new stake in Plexus in the 3rd quarter valued at $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Plexus in the 3rd quarter valued at $55,000. Finally, USA Financial Formulas acquired a new position in Plexus in the 4th quarter valued at $56,000. 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.