Benchmark Raises Plexus (NASDAQ:PLXS) Price Target to $150.00

Plexus (NASDAQ:PLXS) had its target price hoisted by Benchmark from $145.00 to $150.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Separately, Needham & Company LLC upped their target price 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.com, the company presently has an average rating of Hold and an average price target of $125.25.

Plexus Stock Performance

Shares of NASDAQ PLXS opened at $134.49 on Tuesday. The company has a market cap of $3.66 billion, a P/E ratio of 37.15 and a beta of 0.89. Plexus has a 52-week low of $87.21 and a 52-week high of $138.20. 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 firm’s fifty day moving average is $125.71 and its two-hundred day moving average is $111.15.

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

Insider Transactions at Plexus

In related news, Director Karen Marie Rapp sold 500 shares of Plexus 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 owns 9,586 shares in the company, valued at approximately $1,227,199.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Plexus news, CEO Todd P. Kelsey sold 1,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $123.75, for a total value of $123,750.00. Following the completion of the sale, the chief executive officer now directly owns 87,026 shares in the company, valued at approximately $10,769,467.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction 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 transaction, the director now owns 9,586 shares in the company, valued at approximately $1,227,199.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,769 shares of company stock worth $2,731,834. 2.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its holdings in Plexus by 72.3% during the fourth quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock valued at $38,000 after buying an additional 146 shares during the period. TFO Wealth Partners LLC raised its position in shares of Plexus by 86,050.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,723 shares of the technology company’s stock worth $186,000 after acquiring an additional 1,721 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in shares of Plexus by 294.9% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 9,670 shares of the technology company’s stock worth $1,046,000 after purchasing an additional 7,221 shares during the last quarter. Homestead Advisers Corp lifted its stake in shares of Plexus by 24.0% during the 4th quarter. Homestead Advisers Corp now owns 35,600 shares of the technology company’s stock worth $3,849,000 after purchasing an additional 6,900 shares during the last quarter. Finally, Quadrature Capital Ltd boosted 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 valued at $2,287,000 after purchasing an additional 7,057 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

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.