Plexus Corp. (NASDAQ:PLXS) Receives $124.00 Average Target Price from Brokerages

Shares of Plexus Corp. (NASDAQ:PLXS) have earned a consensus rating of “Moderate Buy” from the four brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $124.00.

PLXS has been the topic of several recent research reports. Needham & Company LLC increased their price target on Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Benchmark upped their target price on Plexus from $120.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, July 29th.

Insider Buying and Selling at Plexus

In other Plexus news, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $128.02, for a total transaction of $64,010.00. Following the transaction, the director now directly owns 9,586 shares in the company, valued at approximately $1,227,199.72. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Victor (Pang Hau) Tan sold 1,000 shares of Plexus stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total transaction of $127,500.00. Following the sale, the insider now directly owns 8,605 shares in the company, valued at $1,097,137.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen Marie Rapp sold 500 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the transaction, the director now directly owns 9,586 shares in the company, valued at approximately $1,227,199.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,769 shares of company stock worth $2,731,834. Insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Plexus

Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in Plexus during the fourth quarter worth about $19,533,000. Trexquant Investment LP bought a new stake in shares of Plexus in the 4th quarter worth approximately $915,000. Johnson Financial Group Inc. raised its holdings in shares of Plexus by 193.7% in the 4th quarter. Johnson Financial Group Inc. now owns 3,888 shares of the technology company’s stock worth $420,000 after purchasing an additional 2,564 shares during the period. Westfield Capital Management Co. LP lifted its stake in Plexus by 108.8% in the fourth quarter. Westfield Capital Management Co. LP now owns 298,262 shares of the technology company’s stock valued at $32,251,000 after purchasing an additional 155,447 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in Plexus by 72.3% during the fourth quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock valued at $38,000 after purchasing an additional 146 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Plexus Stock Up 0.3 %

Plexus stock opened at $132.00 on Monday. The company has a market capitalization of $3.59 billion, a PE ratio of 36.46 and a beta of 0.89. Plexus has a 12-month low of $87.21 and a 12-month high of $132.68. The firm’s fifty day moving average is $123.84 and its 200 day moving average is $109.66. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.17. The firm had revenue of $960.70 million for the quarter, compared to analyst estimates of $981.32 million. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 earnings per share. As a group, sell-side analysts predict that Plexus will post 3.74 EPS for the current fiscal 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.