Plexus Corp. (NASDAQ:PLXS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Plexus Corp. (NASDAQ:PLXSGet Free Report) has received an average recommendation of “Moderate Buy” from the four ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $110.25.

A number of equities analysts have recently weighed in on PLXS shares. Benchmark lifted their price target on shares of Plexus from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Needham & Company LLC boosted their price objective on shares of Plexus from $107.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Stifel Nicolaus boosted their price objective on shares of Plexus from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, April 26th.

View Our Latest Report on Plexus

Insiders Place Their Bets

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $102.66, for a total transaction of $230,985.00. Following the transaction, the chief accounting officer now directly owns 38,560 shares in the company, valued at approximately $3,958,569.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $102.66, for a total transaction of $230,985.00. Following the transaction, the chief accounting officer now directly owns 38,560 shares in the company, valued at approximately $3,958,569.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patrick John Jermain sold 4,750 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $100.43, for a total transaction of $477,042.50. Following the transaction, the chief financial officer now owns 42,932 shares in the company, valued at $4,311,660.76. The disclosure for this sale can be found here. Insiders have sold 33,730 shares of company stock valued at $3,559,444 in the last three months. 2.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its stake in Plexus by 269.9% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 7,268 shares of the technology company’s stock valued at $750,000 after buying an additional 5,303 shares during the last quarter. Comerica Bank grew its stake in Plexus by 22.5% in the 1st quarter. Comerica Bank now owns 81,817 shares of the technology company’s stock valued at $7,758,000 after buying an additional 15,046 shares during the last quarter. Tidal Investments LLC grew its position in shares of Plexus by 40.0% during the 1st quarter. Tidal Investments LLC now owns 3,364 shares of the technology company’s stock worth $319,000 after purchasing an additional 961 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Plexus by 68.4% during the 1st quarter. Janus Henderson Group PLC now owns 66,261 shares of the technology company’s stock worth $6,281,000 after purchasing an additional 26,904 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Plexus by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,513 shares of the technology company’s stock worth $2,135,000 after purchasing an additional 1,022 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Stock Performance

NASDAQ:PLXS opened at $102.17 on Wednesday. Plexus has a 12-month low of $87.21 and a 12-month high of $114.27. The company has a quick ratio of 0.64, a current ratio of 1.51 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.80 billion, a PE ratio of 28.22 and a beta of 0.90. The firm has a 50-day moving average price of $106.07 and a 200 day moving average price of $100.30.

Plexus (NASDAQ:PLXSGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.94 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $950.75 million. During the same period in the prior year, the firm earned $1.45 earnings per share. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. Research analysts anticipate that Plexus will post 3.67 earnings per share for the current fiscal year.

Plexus Company Profile

(Get Free Report

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.

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