Plexus (NASDAQ:PLXS) PT Raised to $162.00

Plexus (NASDAQ:PLXS) had its price objective increased by stock analysts at Needham & Company LLC from $144.00 to $162.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 14.74% from the company’s current price.

PLXS has been the topic of several other research reports. Benchmark restated a “buy” rating and set a $150.00 target price on shares of Plexus in a report on Monday, October 21st. KeyCorp started coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $129.75.

Plexus Trading Down 2.6 %

Shares of PLXS stock opened at $141.19 on Friday. The company has a market capitalization of $3.84 billion, a P/E ratio of 35.56 and a beta of 0.89. Plexus has a 12-month low of $88.57 and a 12-month high of $153.60. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $130.82 and a 200 day moving average price of $116.26.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.64%. Plexus’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 earnings per share. Research analysts forecast that Plexus will post 3.74 earnings per share for the current fiscal year.

Insider Transactions at Plexus

In related news, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $128.02, for a total value of $64,010.00. Following the transaction, the director now owns 9,586 shares in the company, valued at $1,227,199.72. This trade 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 at the SEC website. In related news, Director Karen Marie Rapp sold 500 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $128.02, for a total value of $64,010.00. Following the transaction, the director now directly owns 9,586 shares in the company, valued at $1,227,199.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven J. Frisch sold 6,565 shares of Plexus stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total transaction of $841,042.15. Following the sale, the insider now directly owns 36,118 shares of the company’s stock, valued at $4,627,076.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,113 shares of company stock worth $2,541,394 over the last 90 days. 2.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Plexus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC increased its stake in shares of Plexus by 36,700.0% in the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock valued at $38,000 after acquiring an additional 367 shares during the last quarter. Innealta Capital LLC bought a new stake in Plexus in the second quarter valued at approximately $51,000. EntryPoint Capital LLC raised its holdings in Plexus by 56.2% in the first quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock worth $93,000 after purchasing an additional 351 shares during the period. GAMMA Investing LLC boosted its position in shares of Plexus by 190.1% during the third quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock worth $104,000 after purchasing an additional 498 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Plexus by 12.0% in the 2nd quarter. Signaturefd LLC now owns 1,705 shares of the technology company’s stock valued at $176,000 after buying an additional 183 shares during the period. Institutional investors 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.