Plexus Corp. (NASDAQ:PLXS) Receives Consensus Recommendation of “Hold” from Analysts

Plexus Corp. (NASDAQ:PLXS) has been assigned a consensus recommendation of “Hold” from the five analysts that are presently covering the stock, Marketbeat.com 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 brokerages that have updated their coverage on the stock in the last year is $133.50.

A number of brokerages have commented on PLXS. Needham & Company LLC upped their price target on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. KeyCorp began coverage on shares of Plexus in a research report on Tuesday, October 22nd. They issued a “sector weight” rating for the company. StockNews.com downgraded shares of Plexus from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Benchmark upped their target price on shares of Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th.

Insider Buying and Selling

In other Plexus news, insider Victor (Pang Hau) Tan sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $127.50, for a total transaction of $127,500.00. Following the transaction, the insider now 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total transaction of $448,863.47. Following the completion of the sale, the chief accounting officer now directly owns 35,323 shares of the company’s stock, 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. In the last three months, insiders sold 35,552 shares of company stock valued at $5,500,872. Insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Plexus

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP increased its holdings in shares of Plexus by 573.5% during the third quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after acquiring an additional 195 shares in the last quarter. Quest Partners LLC increased its stake in Plexus by 36,700.0% during the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after purchasing an additional 367 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Plexus in the third quarter worth $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Plexus during the third quarter worth $55,000. Finally, Farther Finance Advisors LLC grew 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 buying an additional 219 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Trading Down 0.4 %

Shares of NASDAQ PLXS opened at $153.13 on Friday. The stock has a market cap of $4.17 billion, a P/E ratio of 38.19 and a beta of 0.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. Plexus has a 1 year low of $90.18 and a 1 year high of $169.41. The firm has a 50-day moving average of $139.43 and a 200 day moving average of $122.15.

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, topping analysts’ consensus estimates of $1.55 by $0.30. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business earned $1.44 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts expect that Plexus will post 6.13 EPS for the current fiscal 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.