Plexus (NASDAQ:PLXS) PT Raised to $114.00

Plexus (NASDAQ:PLXS) had its target price boosted by investment analysts at Needham & Company LLC from $107.00 to $114.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 13.68% from the stock’s current price.

Several other research firms also recently weighed in on PLXS. Sidoti downgraded Plexus from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a report on Tuesday, January 9th. Benchmark reissued a “buy” rating and set a $110.00 price objective on shares of Plexus in a report on Wednesday, January 17th. Finally, TheStreet downgraded Plexus from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Three 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.com, Plexus presently has an average rating of “Hold” and a consensus target price of $107.75.

Plexus Trading Up 1.2 %

Shares of PLXS stock opened at $100.28 on Friday. The stock’s fifty day moving average price is $94.48 and its two-hundred day moving average price is $98.41. The company has a market cap of $2.77 billion, a PE ratio of 27.70 and a beta of 1.02. Plexus has a fifty-two week low of $83.84 and a fifty-two week high of $114.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.62 and a current ratio of 1.51.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. The firm had revenue of $966.90 million for the quarter, compared to the consensus estimate of $950.75 million. Plexus had a return on equity of 10.77% and a net margin of 2.54%. The company’s revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 EPS. Equities analysts predict that Plexus will post 4.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Plexus news, CFO Patrick John Jermain sold 2,532 shares of Plexus stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $92.51, for a total transaction of $234,235.32. Following the transaction, the chief financial officer now directly owns 54,651 shares of the company’s stock, valued at approximately $5,055,764.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Plexus news, CFO Patrick John Jermain sold 2,532 shares of Plexus stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $92.51, for a total transaction of $234,235.32. Following the transaction, the chief financial officer now directly owns 54,651 shares of the company’s stock, valued at approximately $5,055,764.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd P. Kelsey sold 2,000 shares of Plexus stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $94.00, for a total value of $188,000.00. Following the transaction, the chief executive officer now directly owns 121,310 shares in the company, valued at $11,403,140. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,453 shares of company stock valued at $3,112,875. 2.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Plexus by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,453,940 shares of the technology company’s stock worth $321,147,000 after acquiring an additional 47,762 shares in the last quarter. Fiduciary Management Inc. WI raised its position in shares of Plexus by 3.8% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock worth $132,667,000 after acquiring an additional 44,398 shares in the last quarter. BNP Paribas Asset Management Holding S.A. raised its position in shares of Plexus by 0.9% in the 4th quarter. BNP Paribas Asset Management Holding S.A. now owns 954,853 shares of the technology company’s stock worth $103,248,000 after acquiring an additional 8,243 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Plexus by 0.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 484,095 shares of the technology company’s stock worth $45,011,000 after acquiring an additional 3,459 shares in the last quarter. Finally, Boston Trust Walden Corp raised its position in shares of Plexus by 1.1% in the 4th quarter. Boston Trust Walden Corp now owns 402,382 shares of the technology company’s stock worth $43,510,000 after acquiring an additional 4,500 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

About Plexus

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.