Plexus Corp. (NASDAQ:PLXS) Receives $133.50 Average Price Target from Brokerages

Plexus Corp. (NASDAQ:PLXS) has earned an average rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $133.50.

PLXS has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday. Benchmark lifted their price objective on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, October 28th. KeyCorp started 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 lifted their price objective on shares of Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 25th.

Insiders Place Their Bets

In related news, Director Karen Marie Rapp sold 500 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the sale, the director now directly owns 9,586 shares of the company’s stock, valued at $1,227,199.72. This represents a 4.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victor (Pang Hau) Tan sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total transaction of $127,500.00. Following the completion of the sale, the insider now directly owns 8,605 shares of the company’s stock, valued at approximately $1,097,137.50. This trade represents a 10.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,552 shares of company stock valued at $5,250,872 over the last three months. 2.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Plexus

Large investors have recently added to or reduced their stakes in the company. Quarry LP raised its holdings in Plexus by 573.5% in the third quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after purchasing an additional 195 shares in the last quarter. Quest Partners LLC increased its holdings in shares of Plexus by 36,700.0% during the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after acquiring an additional 367 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Plexus during the third quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Plexus during the third quarter valued at about $55,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Plexus by 89.4% during the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock valued at $63,000 after acquiring an additional 219 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Plexus Stock Performance

Shares of NASDAQ PLXS opened at $156.65 on Friday. The firm’s 50-day moving average price is $141.58 and its 200-day moving average price is $123.42. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.27 billion, a PE ratio of 39.06 and a beta of 0.87. Plexus has a 52-week low of $90.18 and a 52-week high of $169.41.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.44 earnings per share. As a group, analysts anticipate that Plexus will post 6.13 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.