Brokerages Set Plexus Corp. (NASDAQ:PLXS) Target Price at $124.00

Shares of Plexus Corp. (NASDAQ:PLXS) have received an average rating of “Moderate Buy” from the four brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $124.00.

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

Insider Activity

In related news, insider Steven J. Frisch sold 6,565 shares of Plexus stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $128.11, for a total value of $841,042.15. Following the completion of the sale, the insider now owns 36,118 shares of the company’s stock, valued at approximately $4,627,076.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Steven J. Frisch sold 6,565 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $128.11, for a total value of $841,042.15. Following the transaction, the insider now owns 36,118 shares of the company’s stock, valued at approximately $4,627,076.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 1,656 shares of the business’s stock in a transaction that occurred on 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 sold a total of 21,769 shares of company stock worth $2,731,834 over the last quarter. 2.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Plexus

Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC grew its position in Plexus by 72.3% in the 4th quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock worth $38,000 after purchasing an additional 146 shares in the last quarter. Quest Partners LLC lifted its holdings in Plexus by 36,700.0% during the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after acquiring an additional 367 shares during the period. Innealta Capital LLC purchased a new position in Plexus in the second quarter worth $51,000. EntryPoint Capital LLC grew its stake in Plexus by 56.2% in the 1st quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock valued at $93,000 after purchasing an additional 351 shares during the period. Finally, Signaturefd LLC grew its stake in Plexus by 12.0% in the 2nd quarter. Signaturefd LLC now owns 1,705 shares of the technology company’s stock valued at $176,000 after purchasing an additional 183 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Stock Up 0.3 %

Shares of PLXS opened at $136.44 on Monday. 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 has a one year low of $87.21 and a one year high of $138.20. The company has a market cap of $3.72 billion, a P/E ratio of 37.69 and a beta of 0.89. The firm has a 50 day simple moving average of $124.65 and a two-hundred day simple moving average of $110.38.

Plexus (NASDAQ:PLXS) last issued 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 net margin of 2.82% and a return on equity of 9.64%. The business had revenue of $960.70 million during the quarter, compared to the consensus estimate of $981.32 million. During the same quarter in the prior year, the firm earned $1.32 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. Research analysts forecast 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.