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

Plexus (NASDAQ:PLXS) had its price target raised by Needham & Company LLC from $162.00 to $172.00 in a research report sent to investors on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Other analysts have also issued research reports about the stock. Stifel Nicolaus upped their target price on shares of Plexus from $136.00 to $150.00 and gave the stock a “hold” rating in a research note on Tuesday, December 10th. KeyCorp started coverage on shares of Plexus in a research note on Tuesday, October 22nd. They issued a “sector weight” rating for the company. Benchmark reaffirmed a “buy” rating and issued a $165.00 target price on shares of Plexus in a report on Wednesday. Finally, StockNews.com raised Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $162.33.

Plexus Stock Performance

PLXS opened at $152.49 on Friday. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 35.38 and a beta of 0.91. The company’s fifty day moving average price is $162.28 and its two-hundred day moving average price is $141.67. Plexus has a 1-year low of $90.18 and a 1-year high of $172.89. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last released its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (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%. On average, analysts expect that Plexus will post 6.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Todd P. Kelsey sold 1,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total value of $234,585.00. Following the sale, the chief executive officer now directly owns 74,271 shares in the company, valued at approximately $11,615,241.69. The trade was a 1.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Running sold 539 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $155.87, for a total transaction of $84,013.93. Following the transaction, the insider now owns 1,030 shares of the company’s stock, valued at $160,546.10. This represents a 34.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,091 shares of company stock valued at $5,377,960 over the last ninety days. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plexus

Institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. bought a new stake in shares of Plexus during the 4th quarter valued at $107,489,000. Disciplined Growth Investors Inc. MN grew its holdings in Plexus by 2.8% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock valued at $296,457,000 after buying an additional 59,465 shares in the last quarter. Assenagon Asset Management S.A. increased 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 valued at $11,289,000 after buying an additional 50,564 shares during the period. Algert Global LLC lifted its holdings in shares of Plexus by 1,546.5% in the third quarter. Algert Global LLC now owns 45,790 shares of the technology company’s stock worth $6,260,000 after buying an additional 43,009 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Plexus by 139.4% in the third quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock valued at $6,669,000 after acquiring an additional 28,406 shares during the period. 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.