Plexus Corp. (NASDAQ:PLXS) Receives $133.50 Average Price Target from Brokerages

Plexus Corp. (NASDAQ:PLXS - Get Free Report) has received a consensus recommendation of "Hold" from the five analysts that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $133.50.

PLXS has been the subject of a number of analyst reports. Benchmark raised their price objective on shares of Plexus from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, October 28th. StockNews.com downgraded Plexus from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Needham & Company LLC upped their price objective on Plexus from $144.00 to $162.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Finally, KeyCorp initiated coverage on Plexus in a research report on Tuesday, October 22nd. They set a "sector weight" rating for the company.

Insider Activity

In related news, COO Oliver K. Mihm sold 5,691 shares of Plexus stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $167.06, for a total value of $950,738.46. Following the completion of the transaction, the chief operating officer now directly owns 19,585 shares of the company's stock, valued at $3,271,870.10. The trade was a 22.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Victor (Pang Hau) Tan sold 1,000 shares of the company's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total transaction of $127,500.00. Following the transaction, the insider now owns 8,605 shares in the company, valued at approximately $1,097,137.50. This trade represents a 10.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,552 shares of company stock worth $5,500,872. Insiders own 2.39% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Quarry LP increased its stake in shares of Plexus by 573.5% in the 3rd quarter. Quarry LP now owns 229 shares of the technology company's stock valued at $31,000 after buying an additional 195 shares during the period. Quest Partners LLC lifted its position in Plexus by 36,700.0% during the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company's stock valued at $38,000 after purchasing an additional 367 shares during the period. Point72 DIFC Ltd acquired a new position in Plexus during the 3rd quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Plexus in the 3rd quarter valued at about $55,000. Finally, Farther Finance Advisors LLC lifted its holdings in Plexus by 89.4% in the third quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company's stock valued at $63,000 after buying an additional 219 shares during the period. Institutional investors own 94.45% of the company's stock.

Plexus Stock Performance

PLXS traded down $0.58 on Friday, hitting $153.13. 133,595 shares of the stock traded hands, compared to its average volume of 131,892. The business has a fifty day moving average price of $139.43 and a two-hundred day moving average price of $122.29. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. Plexus has a 52 week low of $90.18 and a 52 week high of $169.41. The firm has a market capitalization of $4.17 billion, a PE ratio of 38.19 and a beta of 0.87.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.30. The business 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%. Plexus's quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.44 earnings per share. On average, research analysts predict that Plexus will post 6.13 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.