Plexus (NASDAQ:PLXS) PT Raised to $105.00

Plexus (NASDAQ:PLXSGet Rating) had its target price increased by Needham & Company LLC from $93.00 to $105.00 in a research note issued to investors on Friday morning, The Fly reports. The brokerage currently has a maintains rating on the technology company’s stock.

A number of other equities analysts also recently commented on the stock. Benchmark began coverage on shares of Plexus in a research note on Wednesday, July 27th. They set a buy rating and a $98.00 price objective for the company. Raymond James upgraded shares of Plexus from a market perform rating to an outperform rating and set a $100.00 price objective for the company in a research note on Tuesday, June 7th. Finally, StockNews.com began coverage on shares of Plexus in a research note on Thursday, March 31st. They set a hold rating for the company. One investment analyst has rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $103.25.

Plexus Price Performance

Shares of NASDAQ PLXS opened at $94.01 on Friday. The firm has a market cap of $2.61 billion, a PE ratio of 22.07 and a beta of 1.14. The company has a current ratio of 1.43, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. Plexus has a 1-year low of $72.88 and a 1-year high of $99.11. The company has a fifty day moving average price of $81.91 and a 200 day moving average price of $81.39.

Plexus (NASDAQ:PLXSGet Rating) last announced its earnings results on Wednesday, July 27th. The technology company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. Plexus had a net margin of 3.43% and a return on equity of 11.79%. The firm had revenue of $981.00 million during the quarter, compared to analyst estimates of $906.32 million. During the same period in the prior year, the business earned $0.99 EPS. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. Research analysts predict that Plexus will post 4.44 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Patrick John Jermain sold 2,385 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $82.49, for a total value of $196,738.65. Following the sale, the chief financial officer now directly owns 47,934 shares of the company’s stock, valued at approximately $3,954,075.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Plexus news, CFO Patrick John Jermain sold 2,385 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $82.49, for a total transaction of $196,738.65. Following the completion of the sale, the chief financial officer now directly owns 47,934 shares in the company, valued at $3,954,075.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $85.02, for a total transaction of $170,040.00. Following the sale, the chief executive officer now owns 125,010 shares of the company’s stock, valued at $10,628,350.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,093 shares of company stock valued at $2,356,021. 2.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Plexus

Several hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Plexus in the fourth quarter valued at approximately $1,874,000. Meritage Portfolio Management raised its position in shares of Plexus by 0.8% in the fourth quarter. Meritage Portfolio Management now owns 59,913 shares of the technology company’s stock valued at $5,745,000 after buying an additional 455 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Plexus in the fourth quarter valued at approximately $2,953,000. Yousif Capital Management LLC acquired a new stake in shares of Plexus in the fourth quarter valued at approximately $2,470,000. Finally, Riverwater Partners LLC acquired a new stake in shares of Plexus in the fourth quarter valued at approximately $268,000. 94.92% of the stock is currently owned by institutional investors and hedge funds.

Plexus Company Profile

(Get Rating)

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.

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