Plexus (NASDAQ:PLXS) Price Target Raised to $165.00

Plexus (NASDAQ:PLXS) had its price target upped by Benchmark from $150.00 to $165.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other research analysts also recently weighed in on the company. Needham & Company LLC boosted their target price on Plexus from $144.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. KeyCorp assumed coverage on shares of Plexus in a report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $133.50.

Plexus Stock Performance

PLXS stock opened at $146.58 on Monday. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 36.27 and a beta of 0.89. Plexus has a twelve month low of $90.18 and a twelve month high of $153.60. The business’s fifty day simple moving average is $131.60 and its two-hundred day simple moving average is $117.08. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share. Analysts predict that Plexus will post 5.63 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Patrick John Jermain sold 5,045 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $143.13, for a total transaction of $722,090.85. Following the completion of the sale, the chief financial officer now directly owns 24,602 shares in the company, valued at approximately $3,521,284.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Plexus news, insider Steven J. Frisch sold 6,048 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $123.99, for a total transaction of $749,891.52. Following the sale, the insider now directly owns 30,070 shares in the company, valued at $3,728,379.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patrick John Jermain sold 5,045 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $143.13, for a total transaction of $722,090.85. Following the sale, the chief financial officer now owns 24,602 shares in the company, valued at approximately $3,521,284.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,593 shares of company stock worth $2,037,242. 2.39% of the stock is owned by insiders.

Institutional Trading of Plexus

Several hedge funds have recently modified their holdings of PLXS. Vanguard Group Inc. lifted its position in shares of Plexus by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after purchasing an additional 74,988 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Plexus by 8.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock worth $111,366,000 after acquiring an additional 87,574 shares in the last quarter. Earnest Partners LLC grew its position in Plexus by 3.0% during the second quarter. Earnest Partners LLC now owns 788,196 shares of the technology company’s stock worth $81,326,000 after buying an additional 23,074 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Plexus by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 453,308 shares of the technology company’s stock valued at $46,772,000 after purchasing an additional 31,099 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.