Plexus Corp. (NASDAQ:PLXS) Given Average Recommendation of “Hold” by Brokerages

Shares of Plexus Corp. (NASDAQ:PLXS) have earned a consensus rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat reports. Three 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 objective among brokers that have issued a report on the stock in the last year is $159.00.

A number of brokerages have recently commented on PLXS. Weiss Ratings reissued a “hold (c+)” rating on shares of Plexus in a report on Wednesday, October 8th. Wall Street Zen downgraded Plexus from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Stifel Nicolaus set a $150.00 price target on Plexus in a research note on Friday, October 24th. Needham & Company LLC boosted their price target on Plexus from $158.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Benchmark reiterated a “buy” rating and issued a $165.00 price objective on shares of Plexus in a report on Friday, October 24th.

Insider Activity

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 1,347 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $144.93, for a total transaction of $195,220.71. Following the completion of the transaction, the chief accounting officer directly owned 21,544 shares in the company, valued at $3,122,371.92. This trade represents a 5.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd P. Kelsey sold 2,000 shares of Plexus stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $143.50, for a total value of $287,000.00. Following the completion of the transaction, the chief executive officer directly owned 60,714 shares in the company, valued at approximately $8,712,459. This represents a 3.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 11,672 shares of company stock valued at $1,668,190. 1.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plexus

A number of hedge funds have recently added to or reduced their stakes in PLXS. Salomon & Ludwin LLC bought a new position in shares of Plexus during the 3rd quarter worth approximately $30,000. Allworth Financial LP lifted its position in shares of Plexus by 70.1% during the 3rd quarter. Allworth Financial LP now owns 250 shares of the technology company’s stock valued at $36,000 after acquiring an additional 103 shares during the period. Huntington National Bank boosted its stake in Plexus by 41.5% during the second quarter. Huntington National Bank now owns 324 shares of the technology company’s stock worth $44,000 after acquiring an additional 95 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Plexus in the third quarter worth $72,000. Finally, CWM LLC grew its holdings in Plexus by 65.7% in the second quarter. CWM LLC now owns 537 shares of the technology company’s stock worth $73,000 after purchasing an additional 213 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Plexus Stock Down 3.0%

PLXS stock opened at $175.85 on Friday. The firm has a 50-day moving average price of $152.91 and a 200-day moving average price of $143.33. Plexus has a 12 month low of $103.43 and a 12 month high of $186.47. The company has a current ratio of 1.58, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $4.71 billion, a P/E ratio of 28.09 and a beta of 0.81.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, October 22nd. The technology company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.30. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Plexus had a net margin of 4.29% and a return on equity of 12.77%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.85 EPS. As a group, equities research analysts anticipate that Plexus will post 5.9 EPS for the current fiscal year.

Plexus Company Profile

Plexus Corp. (NASDAQ: PLXS) is a global provider of electronics manufacturing services (EMS) and precision engineered electronics solutions. Headquartered in Neenah, Wisconsin, the company partners with original equipment manufacturers across industries such as medical, industrial, aerospace and defense, computing, and communications. Plexus offers a full suite of services that span new product introduction, product lifecycle management, supply chain management, printed circuit board assembly, system integration, and aftermarket support.

Founded in 1979, Plexus has grown from a regional electronics assembler into a multinational organization with manufacturing and engineering centers across North America, Europe, and Asia.