Benchmark Reiterates Buy Rating for Plexus (NASDAQ:PLXS)

Plexus (NASDAQ:PLXS)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a research note issued on Monday, Benzinga reports. They currently have a $150.00 price target on the technology company’s stock. Benchmark’s target price would suggest a potential upside of 8.55% from the stock’s current price.

Separately, Needham & Company LLC lifted their target price on Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.25.

Plexus Stock Down 1.0 %

Shares of NASDAQ:PLXS opened at $138.18 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 1.47. Plexus has a 52-week low of $87.21 and a 52-week high of $139.98. The company has a market capitalization of $3.79 billion, a PE ratio of 38.17 and a beta of 0.89. The company has a fifty day moving average of $129.07 and a 200-day moving average of $114.92.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.17. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The business had revenue of $960.70 million during the quarter, compared to analyst estimates of $981.32 million. During the same quarter last year, the business earned $1.32 EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. On average, equities analysts predict that Plexus will post 3.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Plexus news, insider Steven J. Frisch sold 6,565 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $128.11, for a total value of $841,042.15. Following the sale, the insider now directly owns 36,118 shares in the company, valued at $4,627,076.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Steven J. Frisch sold 6,565 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total value of $841,042.15. Following the transaction, the insider now owns 36,118 shares of the company’s stock, valued at $4,627,076.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd P. Kelsey sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $123.75, for a total transaction of $123,750.00. Following the completion of the sale, the chief executive officer now owns 87,026 shares of the company’s stock, valued at approximately $10,769,467.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,113 shares of company stock valued at $2,541,394. Company insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On Plexus

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schaper Benz & Wise Investment Counsel Inc. WI lifted its holdings in shares of Plexus by 62.6% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 13,346 shares of the technology company’s stock valued at $1,825,000 after purchasing an additional 5,138 shares in the last quarter. Trust Point Inc. bought a new position in shares of Plexus in the third quarter worth about $208,000. nVerses Capital LLC purchased a new position in shares of Plexus during the 3rd quarter valued at about $178,000. Creative Planning grew its stake in shares of Plexus by 56.0% during the 3rd quarter. Creative Planning now owns 14,616 shares of the technology company’s stock valued at $1,998,000 after acquiring an additional 5,245 shares during the period. Finally, Legacy Private Trust Co. purchased a new position in Plexus during the third quarter valued at approximately $237,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.