Plexus (NASDAQ:PLXS) Price Target Raised to $144.00

Plexus (NASDAQ:PLXS) had its target price lifted by Needham & Company LLC from $114.00 to $144.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages have also commented on PLXS. Stifel Nicolaus boosted their price objective on shares of Plexus from $90.00 to $95.00 and gave the stock a hold rating in a report on Friday, April 26th. Benchmark boosted their price target on Plexus from $110.00 to $120.00 and gave the stock a buy rating in a research note on Friday, June 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $124.00.

Plexus Trading Down 2.7 %

Shares of PLXS opened at $126.37 on Friday. 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 12 month low of $87.21 and a 12 month high of $132.46. The stock has a market cap of $3.46 billion, a PE ratio of 34.91 and a beta of 0.90. The stock’s 50-day moving average is $109.05 and its two-hundred day moving average is $101.39.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.17. The firm had revenue of $960.70 million during the quarter, compared to analysts’ expectations of $981.32 million. Plexus had a return on equity of 9.64% and a net margin of 2.82%. Plexus’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 EPS. Equities analysts forecast that Plexus will post 3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Todd P. Kelsey sold 4,248 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $101.67, for a total transaction of $431,894.16. Following the sale, the chief executive officer now owns 108,562 shares in the company, valued at $11,037,498.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Plexus news, CEO Todd P. Kelsey sold 4,248 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $101.67, for a total value of $431,894.16. Following the transaction, the chief executive officer now owns 108,562 shares of the company’s stock, valued at $11,037,498.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Patrick John Jermain sold 4,999 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $110.00, for a total value of $549,890.00. Following the sale, the chief financial officer now owns 34,183 shares in the company, valued at $3,760,130. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,386 shares of company stock valued at $3,647,784. Company insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On Plexus

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its stake in Plexus by 72.3% during the 4th quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock valued at $38,000 after purchasing an additional 146 shares during the period. GAMMA Investing LLC bought a new stake in shares of Plexus during the fourth quarter valued at approximately $44,000. Innealta Capital LLC bought a new stake in shares of Plexus during the second quarter valued at approximately $51,000. Cetera Trust Company N.A bought a new stake in shares of Plexus during the fourth quarter valued at approximately $54,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Plexus during the fourth quarter worth approximately $66,000. Institutional investors and hedge funds 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.