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

Plexus Corp. (NASDAQ:PLXS – Get Rating) has been given an average recommendation of “Hold” by the seven analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $107.60.

PLXS has been the topic of several research analyst reports. Needham & Company LLC upped their price objective on Plexus from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, October 28th. StockNews.com started coverage on shares of Plexus in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Raymond James raised their target price on shares of Plexus from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, October 28th. Benchmark raised their target price on shares of Plexus to $110.00 in a report on Tuesday, November 1st. Finally, Sidoti lowered Plexus from a “buy” rating to a “neutral” rating and set a $116.00 price objective on the stock. in a research note on Tuesday.

Insider Activity

In related news, CEO Todd P. Kelsey sold 3,000 shares of the company’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $100.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief executive officer now directly owns 13,451 shares in the company, valued at approximately $1,345,100. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Angelo Michael Ninivaggi, Jr. sold 1,135 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $110.12, for a total value of $124,986.20. Following the completion of the transaction, the chief accounting officer now directly owns 31,818 shares in the company, valued at approximately $3,503,798.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd P. Kelsey sold 3,000 shares of the business’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $100.00, for a total value of $300,000.00. Following the sale, the chief executive officer now owns 13,451 shares in the company, valued at approximately $1,345,100. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,987 shares of company stock worth $3,346,097. Insiders own 2.05% of the company’s stock.

Hedge Funds Weigh In On Plexus

Several large investors have recently bought and sold shares of the company. Credit Agricole S A bought a new position in Plexus in the 3rd quarter valued at approximately $25,000. BDO Wealth Advisors LLC bought a new stake in Plexus during the 3rd quarter worth approximately $27,000. Quadrant Capital Group LLC grew its stake in shares of Plexus by 138.6% in the second quarter. Quadrant Capital Group LLC now owns 396 shares of the technology company’s stock worth $31,000 after purchasing an additional 230 shares during the last quarter. Ronald Blue Trust Inc. raised its position in Plexus by 292.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 436 shares of the technology company’s stock worth $34,000 after purchasing an additional 325 shares during the last quarter. Finally, Wipfli Financial Advisors LLC bought a new position in Plexus during the 3rd quarter worth $74,000. 96.01% of the stock is currently owned by institutional investors.

Plexus Stock Performance

PLXS opened at $112.58 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.60 and a current ratio of 1.40. The business’s 50-day simple moving average is $106.78 and its 200 day simple moving average is $96.36. The firm has a market capitalization of $3.11 billion, a PE ratio of 23.07 and a beta of 1.12. Plexus has a 52-week low of $72.88 and a 52-week high of $114.96.

Plexus (NASDAQ:PLXS – Get Rating) last released its earnings results on Wednesday, October 26th. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.50. Plexus had a net margin of 3.63% and a return on equity of 13.22%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.01 billion. As a group, sell-side analysts expect that Plexus will post 5.98 earnings per share for the current fiscal year.

About Plexus

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Plexus Corp., together with its subsidiaries, 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.