Plexus (NASDAQ:PLXS) Price Target Increased to $150.00 by Analysts at Benchmark

Plexus (NASDAQ:PLXS) had its price target raised by Benchmark from $145.00 to $150.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Benchmark’s price objective would suggest a potential upside of 9.72% from the company’s previous close.

Separately, Needham & Company LLC upped their price target on shares of Plexus from $114.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Plexus presently has an average rating of “Hold” and a consensus target price of $125.25.

Plexus Stock Up 0.2 %

PLXS opened at $136.71 on Tuesday. The stock has a market cap of $3.75 billion, a PE ratio of 37.77 and a beta of 0.89. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. Plexus has a 52 week low of $87.21 and a 52 week high of $138.20. The business’s fifty day simple moving average is $125.01 and its 200 day simple moving average is $110.67.

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

Insider Transactions at Plexus

In other news, Director Karen Marie Rapp sold 500 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $128.02, for a total transaction of $64,010.00. Following the completion of the sale, the director now directly owns 9,586 shares in the company, valued at $1,227,199.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Plexus news, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $128.02, for a total value of $64,010.00. Following the completion of the sale, the director now directly owns 9,586 shares in the company, valued at $1,227,199.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven J. Frisch sold 6,565 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $128.11, for a total transaction of $841,042.15. Following the completion of the sale, the insider now owns 36,118 shares of the company’s stock, valued at $4,627,076.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,769 shares of company stock worth $2,731,834. Company insiders own 2.39% of the company’s stock.

Hedge Funds Weigh In On Plexus

A number of institutional investors and hedge funds have recently made changes to their positions in PLXS. American Century Companies Inc. increased its position in shares of Plexus by 204.3% during the second quarter. American Century Companies Inc. now owns 158,032 shares of the technology company’s stock valued at $16,306,000 after acquiring an additional 106,103 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Plexus by 8.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock valued at $111,366,000 after buying an additional 87,574 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Plexus by 28.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 384,248 shares of the technology company’s stock valued at $36,434,000 after buying an additional 85,986 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Plexus by 2.2% during 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 in the last quarter. Finally, Fiduciary Management Inc. WI increased its holdings 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 during the last quarter. 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.