Analysts Set Plexus Corp. (NASDAQ:PLXS) Target Price at $147.25

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

PLXS has been the topic of several analyst reports. KeyCorp started coverage on Plexus in a research note on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Needham & Company LLC lifted their price objective on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 25th. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Benchmark raised their target price on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Stifel Nicolaus increased their price objective on shares of Plexus from $136.00 to $150.00 and gave the company a “hold” rating in a research report on Tuesday, December 10th.

Insider Buying and Selling

In related news, insider Michael J. Running sold 539 shares of Plexus stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $155.87, for a total transaction of $84,013.93. Following the sale, the insider now directly owns 1,030 shares in the company, valued at $160,546.10. This trade represents a 34.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total transaction of $448,863.47. Following the completion of the transaction, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at $5,093,223.37. This represents a 8.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,591 shares of company stock worth $5,143,375 over the last 90 days. 2.39% of the stock is owned by insiders.

Institutional Trading of Plexus

A number of large investors have recently bought and sold shares of PLXS. QRG Capital Management Inc. lifted its holdings in shares of Plexus by 4.3% in the 2nd quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company’s stock valued at $383,000 after buying an additional 152 shares during the period. SG Americas Securities LLC grew its holdings in Plexus by 142.5% during the 2nd quarter. SG Americas Securities LLC now owns 6,471 shares of the technology company’s stock valued at $668,000 after buying an additional 3,802 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Plexus in the second quarter valued at $3,303,000. Blue Trust Inc. boosted its stake in shares of Plexus by 6,970.0% during the second quarter. Blue Trust Inc. now owns 2,828 shares of the technology company’s stock valued at $268,000 after acquiring an additional 2,788 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its position in Plexus by 1.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company’s stock worth $766,000 after purchasing an additional 137 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Stock Performance

NASDAQ PLXS opened at $164.50 on Wednesday. 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 company has a market cap of $4.46 billion, a P/E ratio of 41.02 and a beta of 0.90. The stock has a 50-day moving average of $153.48 and a two-hundred day moving average of $130.54. Plexus has a 1-year low of $90.18 and a 1-year high of $170.07.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 earnings per share. As a group, analysts anticipate that Plexus will post 6.14 EPS for the current 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.