Plexus (NASDAQ:PLXS) Given New $162.00 Price Target at Needham & Company LLC

Plexus (NASDAQ:PLXS) had its price target increased by Needham & Company LLC from $144.00 to $162.00 in a report issued on Friday, Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Other analysts have also issued reports about the stock. KeyCorp initiated coverage on shares of Plexus in a research note on Tuesday. They set a “sector weight” rating for the company. Benchmark restated a “buy” rating and set a $150.00 price objective on shares of Plexus in a research note on Monday, October 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $129.75.

Plexus Stock Down 2.6 %

Shares of Plexus stock traded down $3.70 during trading on Friday, hitting $141.19. The company’s stock had a trading volume of 318,082 shares, compared to its average volume of 128,867. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 1.47. The company has a fifty day simple moving average of $130.82 and a two-hundred day simple moving average of $116.13. The company has a market capitalization of $3.84 billion, a PE ratio of 35.56 and a beta of 0.89. Plexus has a 52 week low of $88.57 and a 52 week high of $153.60.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.30. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.64%. Plexus’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $1.44 EPS. Equities research analysts predict that Plexus will post 3.74 earnings per share for the current year.

Insider Transactions at Plexus

In other news, Director Karen Marie Rapp sold 500 shares of Plexus stock in a transaction that occurred on 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Victor (Pang Hau) Tan sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $127.50, for a total value of $127,500.00. Following the transaction, the insider now owns 8,605 shares of the company’s stock, valued at approximately $1,097,137.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $128.02, for a total transaction of $64,010.00. Following the completion of the transaction, the director now directly owns 9,586 shares in the company, valued at approximately $1,227,199.72. 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 worth $2,541,394 over the last three months. 2.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plexus

Several large investors have recently added to or reduced their stakes in PLXS. American Century Companies Inc. lifted its holdings in 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 purchasing an additional 106,103 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Plexus by 8.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company’s stock worth $111,366,000 after buying an additional 87,574 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Plexus by 28.8% during the first quarter. Westfield Capital Management Co. LP now owns 384,248 shares of the technology company’s stock worth $36,434,000 after acquiring an additional 85,986 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Plexus by 2.2% during the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after acquiring an additional 74,988 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Plexus by 158.0% during the third quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company’s stock worth $11,289,000 after acquiring an additional 50,564 shares during the last quarter. Hedge funds and other institutional investors 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.