Plexus (NASDAQ:PLXS) PT Raised to $150.00 at Benchmark

Plexus (NASDAQ:PLXS) had its price objective raised by Benchmark from $145.00 to $150.00 in a report published on Tuesday morning, Benzinga reports. Benchmark currently has a buy rating on the technology company’s stock.

Separately, Needham & Company LLC boosted their price target on Plexus from $114.00 to $144.00 and gave the company a buy rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Plexus has a consensus rating of Hold and a consensus target price of $125.25.

Plexus Stock Performance

Shares of Plexus stock opened at $134.49 on Tuesday. The company has a 50 day moving average price of $125.71 and a 200 day moving average price of $111.15. The firm has a market capitalization of $3.66 billion, a P/E ratio of 37.15 and a beta of 0.89. The company has a quick ratio of 0.64, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. Plexus has a 52 week low of $87.21 and a 52 week high of $138.20.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.17. The business had revenue of $960.70 million during the quarter, compared to analysts’ expectations of $981.32 million. Plexus had a net margin of 2.82% and a return on equity of 9.64%. The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the company posted $1.32 earnings per share. Sell-side analysts expect that Plexus will post 3.74 EPS for the current year.

Insider Activity at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 3,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $128.40, for a total transaction of $385,200.00. Following the sale, the chief executive officer now directly owns 93,682 shares of the company’s stock, valued at approximately $12,028,768.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Todd P. Kelsey sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $128.40, for a total value of $385,200.00. Following the sale, the chief executive officer now owns 93,682 shares in the company, valued at $12,028,768.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the director now owns 9,586 shares of the company’s stock, valued at $1,227,199.72. The disclosure for this sale can be found here. Insiders sold 21,769 shares of company stock worth $2,731,834 over the last three months. Company insiders own 2.39% of the company’s stock.

Institutional Trading of Plexus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLXS. Parallel Advisors LLC boosted its stake in shares of Plexus by 72.3% during the 4th quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock worth $38,000 after acquiring an additional 146 shares in the last quarter. TFO Wealth Partners LLC increased its stake 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 valued at $186,000 after purchasing an additional 1,721 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in Plexus by 294.9% in 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 period. Homestead Advisers Corp boosted its position in Plexus by 24.0% during the fourth 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 in the last quarter. Finally, Quadrature Capital Ltd grew its holdings in Plexus by 49.9% in 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 during the period. 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.