Brokerages Set Plexus Corp. (NASDAQ:PLXS) PT at $133.50

Shares of Plexus Corp. (NASDAQ:PLXS) have earned an average recommendation of “Hold” from the five ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $133.50.

Several analysts have issued reports on PLXS shares. Needham & Company LLC upped their target price on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Benchmark increased 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, KeyCorp initiated coverage on shares of Plexus in a research note on Tuesday, October 22nd. They issued a “sector weight” rating for the company.

Plexus Price Performance

Shares of NASDAQ:PLXS opened at $162.01 on Friday. The company’s fifty day moving average price is $142.29 and its 200-day moving average price is $123.67. 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 firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 40.40 and a beta of 0.87. Plexus has a one year low of $90.18 and a one year high of $169.41.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Plexus will post 6.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total value of $448,863.47. Following the completion of the sale, the chief accounting officer now owns 35,323 shares in the company, valued at approximately $5,093,223.37. This trade represents a 8.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Running sold 539 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $155.87, for a total value of $84,013.93. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,091 shares of company stock valued at $5,334,885 in the last quarter. Insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Plexus

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Plexus by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after buying an additional 74,988 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of Plexus by 2.8% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock worth $296,457,000 after acquiring an additional 59,465 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Plexus by 8.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock valued at $111,366,000 after purchasing an additional 87,574 shares in the last quarter. Earnest Partners LLC grew its stake in Plexus by 3.0% in the second quarter. Earnest Partners LLC now owns 788,196 shares of the technology company’s stock worth $81,326,000 after purchasing an additional 23,074 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Plexus by 0.8% in the third quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company’s stock worth $89,392,000 after purchasing an additional 4,926 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

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.