Analysts Set Plexus Corp. (NASDAQ:PLXS) Target Price at $112.00

Plexus Corp. (NASDAQ:PLXS) has been assigned a consensus rating of “Moderate Buy” from the four research firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $107.75.

A number of research analysts have issued reports on the stock. TheStreet lowered shares of Plexus from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th. Sidoti lowered shares of Plexus from a “buy” rating to a “neutral” rating and set a $112.00 target price on the stock. in a research report on Tuesday, January 9th. Stifel Nicolaus increased their target price on shares of Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday. Needham & Company LLC increased their target price on shares of Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Benchmark restated a “buy” rating and set a $110.00 target price on shares of Plexus in a research report on Wednesday, January 17th.

Insider Transactions at Plexus

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $97.18, for a total value of $358,982.92. Following the completion of the transaction, the chief accounting officer now owns 40,875 shares of the company’s stock, valued at approximately $3,972,232.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Plexus news, CFO Patrick John Jermain sold 4,748 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $95.47, for a total value of $453,291.56. Following the completion of the transaction, the chief financial officer now directly owns 49,903 shares in the company, valued at approximately $4,764,239.41. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $97.18, for a total transaction of $358,982.92. Following the completion of the transaction, the chief accounting officer now owns 40,875 shares of the company’s stock, valued at $3,972,232.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,921 shares of company stock valued at $2,878,640. Company insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On Plexus

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its position in Plexus by 72.3% in the 4th quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock valued at $38,000 after acquiring an additional 146 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Plexus during the fourth quarter worth $44,000. Cetera Trust Company N.A acquired a new stake in shares of Plexus during the fourth quarter worth $54,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Plexus during the fourth quarter worth $66,000. Finally, Avior Wealth Management LLC acquired a new stake in shares of Plexus during the third quarter worth $91,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Plexus Stock Up 1.2 %

Shares of PLXS opened at $100.28 on Friday. Plexus has a 52 week low of $83.84 and a 52 week high of $114.06. The firm has a market cap of $2.77 billion, a P/E ratio of 27.70 and a beta of 1.02. The firm’s 50-day simple moving average is $94.48 and its 200 day simple moving average is $98.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.62 and a current ratio of 1.51.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The firm had revenue of $966.90 million for the quarter, compared to analyst estimates of $950.75 million. During the same quarter in the prior year, the business posted $1.45 EPS. The business’s revenue was down 9.7% compared to the same quarter last year. On average, analysts forecast that Plexus will post 4.36 earnings per share for the current 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.