Plexus (NASDAQ:PLXS) Price Target Raised to $150.00

Plexus (NASDAQ:PLXS) had its price target increased by investment analysts at Stifel Nicolaus from $136.00 to $150.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ target price would indicate a potential downside of 11.25% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Benchmark lifted their price target on shares of Plexus from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, October 28th. StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a report on Monday, November 18th. KeyCorp began coverage on Plexus in a report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. Finally, Needham & Company LLC boosted their price target on Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.25.

Plexus Stock Performance

Shares of NASDAQ:PLXS traded up $1.08 during trading on Tuesday, reaching $169.02. 47,243 shares of the stock were exchanged, compared to its average volume of 135,068. The firm has a market cap of $4.58 billion, a PE ratio of 42.15 and a beta of 0.90. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07. Plexus has a 12 month low of $90.18 and a 12 month high of $170.07. The stock has a 50-day moving average price of $150.32 and a 200-day moving average price of $128.61.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.30. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the business earned $1.44 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts expect that Plexus will post 6.14 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael J. Running sold 539 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $155.87, for a total transaction of $84,013.93. Following the completion of the transaction, the insider now directly owns 1,030 shares of the company’s stock, valued at $160,546.10. This trade represents a 34.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Patrick John Jermain sold 5,045 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $143.13, for a total value of $722,090.85. Following the completion of the sale, the chief financial officer now directly owns 24,602 shares of the company’s stock, valued at approximately $3,521,284.26. The trade was a 17.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,591 shares of company stock valued at $5,143,375 in the last 90 days. Corporate insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On Plexus

A number of hedge funds and other institutional investors have recently made changes to their positions in PLXS. Quarry LP boosted its position in shares of Plexus by 573.5% during the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after purchasing an additional 195 shares in the last quarter. Quest Partners LLC grew its position in shares of Plexus by 36,700.0% during the 2nd quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after buying an additional 367 shares during the period. Innealta Capital LLC bought a new stake in shares of Plexus in the 2nd quarter valued at $51,000. Point72 DIFC Ltd bought a new position in Plexus during the third quarter worth $51,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Plexus in the third quarter worth $55,000. 94.45% of the stock is owned by institutional investors and hedge funds.

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.