Plexus (NASDAQ:PLXS) Price Target Raised to $162.00

Plexus (NASDAQ:PLXS) had its target price upped by investment analysts at Needham & Company LLC from $144.00 to $162.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 11.81% from the company’s current price.

Other equities analysts also recently issued research reports about the company. KeyCorp assumed coverage on Plexus in a report on Tuesday. They issued a “sector weight” rating for the company. Benchmark reiterated a “buy” rating and issued a $150.00 price target on shares of Plexus in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Plexus currently has a consensus rating of “Hold” and a consensus price target of $129.75.

Plexus Stock Up 6.9 %

Shares of Plexus stock opened at $144.89 on Friday. The company’s fifty day simple moving average is $130.48 and its two-hundred day simple moving average is $115.82. Plexus has a 12-month low of $87.21 and a 12-month high of $153.60. The company has a current ratio of 1.47, a quick ratio of 0.64 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.95 billion, a P/E ratio of 36.50 and a beta of 0.89.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.64%. Plexus’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 earnings per share. Research analysts anticipate that Plexus will post 3.74 EPS for the current year.

Insider Transactions at Plexus

In related news, CEO Todd P. Kelsey sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $123.75, for a total transaction of $123,750.00. Following the completion of the sale, the chief executive officer now owns 87,026 shares of the company’s stock, valued at $10,769,467.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Plexus news, CEO Todd P. Kelsey sold 1,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $123.75, for a total transaction of $123,750.00. Following the sale, the chief executive officer now directly owns 87,026 shares in the company, valued at approximately $10,769,467.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karen Marie Rapp sold 500 shares of Plexus stock in a transaction on Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the sale, the director now directly owns 9,586 shares of the company’s stock, valued at approximately $1,227,199.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,113 shares of company stock worth $2,541,394. Corporate insiders own 2.39% of the company’s stock.

Institutional Trading of Plexus

A number of institutional investors have recently made changes to their positions in PLXS. AlphaMark Advisors LLC purchased a new stake in Plexus during the 1st quarter valued at $267,000. Principal Financial Group Inc. increased its position in Plexus by 0.3% during the first quarter. Principal Financial Group Inc. now owns 151,190 shares of the technology company’s stock valued at $14,336,000 after acquiring an additional 387 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Plexus by 13.8% in the first quarter. BNP Paribas Financial Markets now owns 25,424 shares of the technology company’s stock valued at $2,411,000 after acquiring an additional 3,087 shares during the period. Capstone Investment Advisors LLC purchased a new position in Plexus in the first quarter worth about $216,000. Finally, Farrow Financial Inc. grew its stake in shares of Plexus by 7.3% during the 1st quarter. Farrow Financial Inc. now owns 21,370 shares of the technology company’s stock valued at $2,026,000 after purchasing an additional 1,446 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Company Profile

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.