Plexus Corp. (NASDAQ:PLXS) Receives $124.00 Average Target Price from Analysts

Shares of Plexus Corp. (NASDAQ:PLXS) have received a consensus recommendation of “Moderate Buy” from the four ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $124.00.

Several analysts recently issued reports on the stock. Needham & Company LLC upped their price objective on shares of Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Benchmark boosted their target price on Plexus from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, July 29th.

Insiders Place Their Bets

In other news, CEO Todd P. Kelsey sold 1,656 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $115.00, for a total value of $190,440.00. Following the completion of the sale, the chief executive officer now owns 96,682 shares of the company’s stock, valued at approximately $11,118,430. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Todd P. Kelsey sold 3,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.40, for a total value of $385,200.00. Following the transaction, the chief executive officer now owns 93,682 shares of the company’s stock, valued at approximately $12,028,768.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Todd P. Kelsey sold 1,656 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $115.00, for a total value of $190,440.00. Following the sale, the chief executive officer now directly owns 96,682 shares of the company’s stock, valued at $11,118,430. The disclosure for this sale can be found here. Insiders have sold 21,769 shares of company stock valued at $2,731,834 over the last ninety days. Company insiders own 2.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PLXS. Creative Planning raised its stake in shares of Plexus by 47.1% in the 2nd quarter. Creative Planning now owns 9,371 shares of the technology company’s stock valued at $967,000 after acquiring an additional 2,999 shares during the period. Disciplined Growth Investors Inc. MN raised its position in Plexus by 0.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 2,109,047 shares of the technology company’s stock valued at $217,611,000 after purchasing an additional 7,245 shares during the period. Algert Global LLC purchased a new stake in Plexus in the second quarter valued at approximately $287,000. Scientech Research LLC acquired a new position in Plexus during the second quarter worth $347,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Plexus by 2.7% during the second quarter. The Manufacturers Life Insurance Company now owns 14,864 shares of the technology company’s stock worth $1,534,000 after buying an additional 384 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Price Performance

Shares of Plexus stock opened at $123.00 on Thursday. The stock has a market capitalization of $3.35 billion, a P/E ratio of 33.98 and a beta of 0.89. The business has a 50 day simple moving average of $118.00 and a two-hundred day simple moving average of $106.30. Plexus has a 12 month low of $87.21 and a 12 month high of $132.46. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 0.64.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.28 by $0.17. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The firm had revenue of $960.70 million during the quarter, compared to the consensus estimate of $981.32 million. During the same period in the prior year, the company earned $1.32 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. As a group, analysts predict that Plexus will post 3.74 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.