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

Shares of Plexus Corp. (NASDAQ:PLXS) have earned a consensus rating of “Hold” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $147.25.

Several equities research analysts have commented on the company. Needham & Company LLC boosted their target price on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Stifel Nicolaus lifted 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. KeyCorp started coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, Benchmark increased their price target on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, October 28th.

Insider Buying and Selling at Plexus

In other news, COO Oliver K. Mihm sold 5,691 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total transaction of $950,738.46. Following the transaction, the chief operating officer now directly owns 19,585 shares of the company’s stock, valued at $3,271,870.10. This represents a 22.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Patrick John Jermain sold 5,045 shares of Plexus stock in a transaction on 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 directly owns 24,602 shares of the company’s stock, valued at $3,521,284.26. The trade was a 17.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,591 shares of company stock worth $5,143,375. Company insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On Plexus

Institutional investors have recently made changes to their positions in the business. Tidal Investments LLC increased its stake in shares of Plexus by 102.7% in the 3rd quarter. Tidal Investments LLC now owns 5,723 shares of the technology company’s stock worth $782,000 after purchasing an additional 2,899 shares in the last quarter. Geode Capital Management LLC grew its holdings in Plexus by 0.8% during the third quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company’s stock valued at $89,392,000 after purchasing an additional 4,926 shares during the period. Disciplined Growth Investors Inc. MN grew its holdings in Plexus by 2.8% during 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. Barclays PLC increased its position in Plexus by 139.4% in the third quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock worth $6,669,000 after buying an additional 28,406 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Plexus in the third quarter worth about $286,000. Institutional investors own 94.45% of the company’s stock.

Plexus Trading Down 1.4 %

Shares of NASDAQ PLXS 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 has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. The firm has a 50-day moving average of $152.87 and a 200 day moving average of $130.15. The stock has a market cap of $4.50 billion, a P/E ratio of 41.42 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $1.44 earnings per share. The business’s 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 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.