Plexus (NASDAQ:PLXS) Price Target Raised to $172.00

Plexus (NASDAQ:PLXS) had its price objective raised by stock analysts at Needham & Company LLC from $162.00 to $172.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 12.79% from the stock’s current price.

Several other brokerages have also weighed in on PLXS. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Stifel Nicolaus lifted their price objective on Plexus from $136.00 to $150.00 and gave the company a “hold” rating in a report on Tuesday, December 10th. KeyCorp began coverage on Plexus in a report on Tuesday, October 22nd. They issued a “sector weight” rating for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $165.00 price target on shares of Plexus in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.33.

Plexus Trading Down 0.5 %

Plexus stock opened at $152.49 on Friday. The business has a 50 day moving average price of $162.28 and a two-hundred day moving average price of $141.95. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. Plexus has a 12 month low of $90.18 and a 12 month high of $172.89. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 35.38 and a beta of 0.91.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.43%. As a group, equities analysts forecast that Plexus will post 6.13 EPS for the current year.

Insiders Place Their Bets

In other Plexus news, insider Michael J. Running sold 539 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $155.87, for a total value of $84,013.93. Following the transaction, the insider now owns 1,030 shares of the company’s stock, valued at approximately $160,546.10. The trade was a 34.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $144.19, for a total value of $448,863.47. Following the completion of the sale, the chief accounting officer now owns 35,323 shares of the company’s stock, valued at approximately $5,093,223.37. This trade represents a 8.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,091 shares of company stock valued at $5,377,960. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Plexus

Institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its holdings in shares of Plexus by 3.7% in the second quarter. Envestnet Asset Management Inc. now owns 58,607 shares of the technology company’s stock valued at $6,047,000 after purchasing an additional 2,076 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Plexus by 6.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,788 shares of the technology company’s stock valued at $288,000 after buying an additional 176 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Plexus in the 2nd quarter valued at $297,000. Bank of Montreal Can raised its position in shares of Plexus by 148.7% during the second quarter. Bank of Montreal Can now owns 11,049 shares of the technology company’s stock worth $1,147,000 after acquiring an additional 6,606 shares during the last quarter. Finally, Earnest Partners LLC lifted its stake in shares of Plexus by 3.0% during the second quarter. Earnest Partners LLC now owns 788,196 shares of the technology company’s stock valued at $81,326,000 after acquiring an additional 23,074 shares during the period. 94.45% of the stock is owned by institutional investors.

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.