Plexus Corp. (NASDAQ:PLXS) Receives Average Recommendation of “Moderate Buy” from Analysts

Posted by on Aug 6th, 2023

Plexus Corp. (NASDAQ:PLXS – Get Free Report) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $106.80.

Several equities analysts recently issued reports on the company. Needham & Company LLC increased their target price on Plexus from $105.00 to $107.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. StockNews.com assumed coverage on Plexus in a research note on Thursday, May 18th. They set a “hold” rating on the stock.

Plexus Price Performance

PLXS stock opened at $98.50 on Friday. The business’s fifty day moving average price is $97.04 and its 200 day moving average price is $95.66. Plexus has a 12-month low of $83.84 and a 12-month high of $115.36. The company has a current ratio of 1.44, a quick ratio of 0.60 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.72 billion, a PE ratio of 18.66 and a beta of 1.11.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its holdings in shares of Plexus by 234.0% in the 1st quarter. Thrivent Financial for Lutherans now owns 596,047 shares of the technology company’s stock valued at $58,157,000 after buying an additional 417,598 shares during the period. Norges Bank acquired a new stake in shares of Plexus in the 4th quarter valued at approximately $32,856,000. Boston Trust Walden Corp acquired a new stake in shares of Plexus in the 2nd quarter valued at approximately $28,327,000. Driehaus Capital Management LLC acquired a new stake in shares of Plexus in the 4th quarter valued at approximately $25,082,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Plexus by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,215,591 shares of the technology company’s stock valued at $281,557,000 after buying an additional 163,722 shares during the period. Hedge funds and other institutional investors own 92.66% of the company’s stock.

About Plexus

(Get Free Report

Plexus Corp., together with its subsidiaries, 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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Analyst Recommendations for Plexus (NASDAQ:PLXS)

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