Plexus (NASDAQ:PLXS) PT Raised to $114.00 at Needham & Company LLC

Plexus (NASDAQ:PLXS) had its price target upped by Needham & Company LLC from $107.00 to $114.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 15.05% from the company’s current price.

A number of other analysts also recently weighed in on the company. Sidoti downgraded Plexus from a “buy” rating to a “neutral” rating and set a $112.00 target price for the company. in a research report on Tuesday, January 9th. Benchmark reaffirmed a “buy” rating and set a $110.00 target price on shares of Plexus in a research report on Wednesday, January 17th. Finally, TheStreet cut shares of Plexus from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.00.

Plexus Stock Up 3.6 %

Shares of NASDAQ:PLXS opened at $99.09 on Friday. Plexus has a 52 week low of $83.84 and a 52 week high of $114.06. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.62 and a current ratio of 1.52. The company has a market capitalization of $2.73 billion, a PE ratio of 27.37 and a beta of 1.02. The company has a 50 day moving average price of $94.34 and a two-hundred day moving average price of $98.37.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. Plexus had a net margin of 2.54% and a return on equity of 10.86%. The business had revenue of $966.90 million during the quarter, compared to the consensus estimate of $950.75 million. During the same quarter last year, the firm earned $1.45 earnings per share. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. Analysts forecast that Plexus will post 4.36 earnings per share for the current year.

Insider Buying and Selling at Plexus

In related news, insider Michael J. Running sold 542 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $95.60, for a total transaction of $51,815.20. Following the completion of the sale, the insider now owns 1,569 shares in the company, valued at $149,996.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Michael J. Running sold 542 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $95.60, for a total value of $51,815.20. Following the sale, the insider now owns 1,569 shares in the company, valued at $149,996.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $94.30, for a total value of $188,600.00. Following the completion of the sale, the chief executive officer now owns 121,859 shares of the company’s stock, valued at $11,491,303.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,453 shares of company stock worth $3,112,875. 2.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plexus

A number of institutional investors and hedge funds have recently modified their holdings of PLXS. Speece Thorson Capital Group Inc. acquired a new position in shares of Plexus during the first quarter valued at approximately $1,612,000. AlphaMark Advisors LLC purchased a new stake in shares of Plexus in the 1st quarter valued at approximately $267,000. Bridge City Capital LLC acquired a new position in Plexus in the first quarter valued at approximately $2,149,000. Congress Asset Management Co. MA lifted its position in Plexus by 1.1% in the first quarter. Congress Asset Management Co. MA now owns 16,273 shares of the technology company’s stock valued at $1,543,000 after acquiring an additional 184 shares during the last quarter. Finally, Quadrature Capital Ltd increased its position in Plexus by 49.9% during the fourth quarter. Quadrature Capital Ltd now owns 21,208 shares of the technology company’s stock worth $2,287,000 after buying an additional 7,057 shares during the period. Institutional investors and hedge funds 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.