Plexus Corp. (NASDAQ:PLXS) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Plexus Corp. (NASDAQ:PLXS) have earned an average recommendation of “Moderate Buy” from the four ratings firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $159.00.

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

Plexus Trading Up 2.3 %

PLXS stock opened at $163.47 on Friday. Plexus has a 1-year low of $90.18 and a 1-year high of $170.07. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $160.46 and its 200-day moving average is $136.85. The firm has a market cap of $4.43 billion, a P/E ratio of 40.77 and a beta of 0.91.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.44 earnings per share. Equities analysts anticipate that Plexus will post 6.14 earnings per share for the current fiscal year.

Insider Transactions at Plexus

In other Plexus news, COO Oliver K. Mihm sold 5,691 shares of the firm’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 value of $950,738.46. Following the transaction, the chief operating officer now directly owns 19,585 shares of the company’s stock, valued at approximately $3,271,870.10. This trade represents a 22.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 1,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $156.39, for a total transaction of $234,585.00. Following the sale, the chief executive officer now owns 74,271 shares of the company’s stock, valued at $11,615,241.69. The trade was a 1.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,091 shares of company stock worth $5,377,960 over the last 90 days. 1.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PLXS. Disciplined Growth Investors Inc. MN increased its stake 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 valued at $296,457,000 after purchasing an additional 59,465 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Plexus by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 788,196 shares of the technology company’s stock valued at $81,326,000 after buying an additional 23,074 shares during the period. Geode Capital Management LLC increased its position in shares of Plexus by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company’s stock valued at $89,392,000 after buying an additional 4,926 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Plexus by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 421,903 shares of the technology company’s stock worth $57,678,000 after buying an additional 2,886 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Plexus by 3.9% during the third quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company’s stock worth $27,367,000 after acquiring an additional 7,483 shares in the last quarter. 94.45% of the stock is currently 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.