Plexus (NASDAQ:PLXS) PT Raised to $144.00 at Needham & Company LLC

Plexus (NASDAQ:PLXS) had its price target increased by Needham & Company LLC from $114.00 to $144.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities research analysts have also recently commented on PLXS. Benchmark lifted their price target on shares of Plexus from $110.00 to $120.00 and gave the stock a buy rating in a research report on Friday, June 21st. Stifel Nicolaus upped their target price on shares of Plexus from $90.00 to $95.00 and gave the company a hold rating in a research report on Friday, April 26th. 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.com, the stock currently has an average rating of Hold and a consensus target price of $124.00.

Plexus Stock Performance

Shares of Plexus stock opened at $126.37 on Friday. The firm has a 50 day simple moving average of $109.05 and a 200 day simple moving average of $101.39. Plexus has a fifty-two week low of $87.21 and a fifty-two week high of $132.46. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 0.64. The firm has a market cap of $3.46 billion, a P/E ratio of 34.91 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last released its 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. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The company had revenue of $960.70 million during the quarter, compared to the consensus estimate of $981.32 million. During the same quarter in the previous year, the company posted $1.32 earnings per share. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. Sell-side analysts predict that Plexus will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Plexus

In other news, CEO Todd P. Kelsey sold 4,248 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $101.67, for a total value of $431,894.16. Following the completion of the transaction, the chief executive officer now owns 108,562 shares of the company’s stock, valued at approximately $11,037,498.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Todd P. Kelsey sold 4,248 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $101.67, for a total value of $431,894.16. Following the completion of the transaction, the chief executive officer now directly owns 108,562 shares in the company, valued at approximately $11,037,498.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patrick John Jermain sold 4,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $100.43, for a total transaction of $477,042.50. Following the sale, the chief financial officer now owns 42,932 shares in the company, valued at $4,311,660.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,386 shares of company stock valued at $3,647,784. Corporate insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Plexus

Several institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Plexus in the 4th quarter valued at about $19,533,000. Westfield Capital Management Co. LP grew its holdings in shares of Plexus by 108.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 298,262 shares of the technology company’s stock worth $32,251,000 after buying an additional 155,447 shares in the last quarter. Vanguard Group Inc. raised its position in Plexus by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock valued at $333,374,000 after buying an additional 74,988 shares during the last quarter. Fiduciary Management Inc. WI lifted its stake in Plexus by 3.8% in the 4th quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock valued at $132,667,000 after acquiring an additional 44,398 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Plexus during the 1st quarter worth approximately $3,934,000. 94.45% of the stock is owned by institutional investors.

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.