Plexus Corp. (NASDAQ:PLXS) Receives Average Recommendation of "Hold" from Brokerages

Plexus Corp. (NASDAQ:PLXS - Get Free Report) has received a consensus rating of "Hold" from the five analysts that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $125.25.

A number of research analysts recently weighed in on PLXS shares. Benchmark reaffirmed a "buy" rating and set a $150.00 price objective on shares of Plexus in a research report on Monday. KeyCorp initiated coverage on Plexus in a report on Tuesday. They set a "sector weight" rating for the company. Finally, Needham & Company LLC lifted their price target on Plexus from $114.00 to $144.00 and gave the stock a "buy" rating in a research report on Friday, July 26th.

Plexus Stock Down 1.1 %

PLXS traded down $1.45 during trading on Tuesday, reaching $134.78. The stock had a trading volume of 90,779 shares, compared to its average volume of 126,321. The company has a current ratio of 1.47, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 33.95 and a beta of 0.89. The stock's 50 day moving average is $129.74 and its two-hundred day moving average is $115.48. Plexus has a one year low of $87.21 and a one year high of $139.98.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.17. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The company had revenue of $960.70 million during the quarter, compared to analyst estimates of $981.32 million. During the same period last year, the business earned $1.32 EPS. Plexus's quarterly revenue was down 6.0% compared to the same quarter last year. As a group, analysts expect that Plexus will post 3.74 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Karen Marie Rapp sold 500 shares of Plexus 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 sale, the director now owns 9,586 shares of the company's stock, valued at $1,227,199.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Victor (Pang Hau) Tan sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total value of $127,500.00. Following the transaction, the insider now directly owns 8,605 shares of the company's stock, valued at approximately $1,097,137.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen Marie Rapp sold 500 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $128.02, for a total transaction of $64,010.00. Following the sale, the director now directly owns 9,586 shares of the company's stock, valued at approximately $1,227,199.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,113 shares of company stock valued at $2,541,394. Corporate insiders own 2.39% of the company's stock.

Hedge Funds Weigh In On Plexus

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. grew its position in shares of Plexus by 204.3% during the second quarter. American Century Companies Inc. now owns 158,032 shares of the technology company's stock valued at $16,306,000 after purchasing an additional 106,103 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Plexus by 8.8% during the 2nd 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 buying an additional 87,574 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in Plexus by 28.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 384,248 shares of the technology company's stock valued at $36,434,000 after buying an additional 85,986 shares in the last quarter. Vanguard Group Inc. increased its stake in Plexus by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company's stock worth $333,374,000 after acquiring an additional 74,988 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in shares of Plexus during the 1st quarter worth approximately $3,934,000. Institutional investors own 94.45% of the company's stock.

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.