Plexus Corp. (NASDAQ:PLXS) Given Consensus Recommendation of “Hold” by Analysts

Plexus Corp. (NASDAQ:PLXS) has earned a consensus rating of “Hold” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $133.50.

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

Plexus Stock Performance

Shares of PLXS opened at $162.01 on Friday. 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 has a market cap of $4.39 billion, a P/E ratio of 40.40 and a beta of 0.87. The business’s 50 day moving average price is $142.29 and its 200-day moving average price is $123.67. Plexus has a 52 week low of $90.18 and a 52 week high of $169.41.

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

Insiders Place Their Bets

In other Plexus news, COO Oliver K. Mihm sold 5,691 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $167.06, for a total transaction of $950,738.46. Following the completion of the sale, the chief operating officer now directly owns 19,585 shares of the company’s stock, valued at approximately $3,271,870.10. This represents a 22.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Running sold 539 shares of Plexus stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $155.87, for a total transaction of $84,013.93. Following the transaction, the insider now owns 1,030 shares in the company, valued at $160,546.10. This represents a 34.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,091 shares of company stock valued at $5,334,885. Company insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On Plexus

A number of institutional investors have recently bought and sold shares of the stock. UniSuper Management Pty Ltd purchased a new stake in Plexus in the first quarter worth about $515,000. Vanguard Group Inc. increased its holdings in Plexus by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after acquiring an additional 74,988 shares in the last quarter. Comerica Bank raised its stake in Plexus by 22.5% during the 1st quarter. Comerica Bank now owns 81,817 shares of the technology company’s stock worth $7,758,000 after acquiring an additional 15,046 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Plexus by 269.9% during the second quarter. Harbor Capital Advisors Inc. now owns 7,268 shares of the technology company’s stock valued at $750,000 after purchasing an additional 5,303 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Plexus by 68.4% in the first quarter. Janus Henderson Group PLC now owns 66,261 shares of the technology company’s stock worth $6,281,000 after purchasing an additional 26,904 shares during the period. 94.45% of the stock is owned by institutional investors.

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.