Plexus (NASDAQ:PLXS) Stock Rating Reaffirmed by Benchmark

Benchmark reaffirmed their buy rating on shares of Plexus (NASDAQ:PLXS) in a research report sent to investors on Monday, Benzinga reports. They currently have a $150.00 price target on the technology company’s stock.

Separately, Needham & Company LLC upped their price target on 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $125.25.

Plexus Trading Up 0.6 %

NASDAQ:PLXS opened at $135.57 on Monday. The stock has a fifty day simple moving average of $130.05 and a 200 day simple moving average of $115.62. 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 market capitalization of $3.69 billion, a price-to-earnings ratio of 34.15 and a beta of 0.89. Plexus has a 1-year low of $87.21 and a 1-year high of $139.98.

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 the consensus estimate of $1.28 by $0.17. The business had revenue of $960.70 million for the quarter, compared to the consensus estimate of $981.32 million. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period last year, the firm posted $1.32 earnings per share. Sell-side analysts forecast that Plexus will post 3.74 earnings per share for the current year.

Insider Buying and Selling at Plexus

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 transaction of $841,042.15. Following the completion of the sale, the insider now directly owns 36,118 shares in the company, valued at approximately $4,627,076.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Victor (Pang Hau) Tan sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total value of $127,500.00. Following the completion of the sale, the insider now owns 8,605 shares of the company’s stock, valued at approximately $1,097,137.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven J. Frisch sold 6,565 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $128.11, for a total transaction of $841,042.15. Following the transaction, the insider now directly owns 36,118 shares in the company, valued at approximately $4,627,076.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,113 shares of company stock valued at $2,541,394 in the last quarter. Company insiders own 2.39% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Legacy Wealth Asset Management LLC acquired a new stake in shares of Plexus in the 3rd quarter valued at $217,000. Assenagon Asset Management S.A. lifted its position in shares of Plexus by 158.0% in the third quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company’s stock worth $11,289,000 after buying an additional 50,564 shares during the last quarter. Riverwater Partners LLC lifted its position in shares of Plexus by 132.2% in the third quarter. Riverwater Partners LLC now owns 18,850 shares of the technology company’s stock worth $2,545,000 after buying an additional 10,731 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in shares of Plexus by 62.6% during the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 13,346 shares of the technology company’s stock worth $1,825,000 after acquiring an additional 5,138 shares in the last quarter. Finally, Trust Point Inc. acquired a new position in shares of Plexus during the 3rd quarter valued at about $208,000. Institutional investors and hedge funds 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.