Plexus Corp. (NASDAQ:PLXS) Receives Average Rating of “Hold” from Brokerages

Shares of Plexus Corp. (NASDAQ:PLXS) have been given an average recommendation of “Hold” by the five analysts that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $147.25.

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

Insider Activity

In other news, CFO Patrick John Jermain sold 5,045 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $143.13, for a total transaction of $722,090.85. Following the completion of the transaction, the chief financial officer now directly owns 24,602 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of Plexus stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total value of $448,863.47. Following the sale, the chief accounting officer now directly owns 35,323 shares in the company, valued at $5,093,223.37. The trade was a 8.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,091 shares of company stock valued at $5,377,960. 1.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plexus

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of Plexus by 17.2% in the 4th quarter. GAMMA Investing LLC now owns 891 shares of the technology company’s stock worth $139,000 after acquiring an additional 131 shares during the period. Tidal Investments LLC raised its holdings in Plexus by 102.7% during the third 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 lifted its position in Plexus by 0.8% in the third quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company’s stock worth $89,392,000 after purchasing an additional 4,926 shares during the period. Disciplined Growth Investors Inc. MN lifted its position in 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 worth $296,457,000 after purchasing an additional 59,465 shares during the period. Finally, Barclays PLC boosted its stake in Plexus by 139.4% during the 3rd quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock valued at $6,669,000 after purchasing an additional 28,406 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Price Performance

PLXS stock opened at $157.91 on Friday. The company has a market capitalization of $4.28 billion, a PE ratio of 39.38 and a beta of 0.91. 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 stock’s 50 day moving average is $159.55 and its two-hundred day moving average is $135.65. Plexus has a 52-week low of $90.18 and a 52-week high of $170.07.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results 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 business had revenue of $1.05 billion during 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 business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 earnings per share. Analysts predict 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.