Plexus (NASDAQ:PLXS) Given New $114.00 Price Target at Needham & Company LLC

Plexus (NASDAQ:PLXS) had its price target raised by Needham & Company LLC from $107.00 to $114.00 in a research note released on Friday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

PLXS has been the subject of several other reports. Benchmark reiterated a buy rating and issued a $110.00 price objective on shares of Plexus in a report on Wednesday, January 17th. TheStreet lowered Plexus from a b rating to a c+ rating in a report on Tuesday, February 13th. Finally, Sidoti cut Plexus from a buy rating to a neutral rating and set a $112.00 target price for the company. in a research note on Tuesday, January 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Plexus currently has a consensus rating of Hold and a consensus target price of $107.75.

Plexus Trading Up 2.0 %

Shares of NASDAQ:PLXS opened at $102.25 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.51 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $94.61 and its 200 day moving average price is $98.51. The company has a market cap of $2.82 billion, a PE ratio of 28.25 and a beta of 1.02. Plexus has a fifty-two week low of $83.84 and a fifty-two week high of $114.06.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.07. The business had revenue of $966.90 million during the quarter, compared to the consensus estimate of $950.75 million. Plexus had a return on equity of 10.77% and a net margin of 2.54%. The business’s revenue was down 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 earnings per share. Sell-side analysts anticipate that Plexus will post 4.36 earnings per share for the current year.

Insider Activity

In related news, insider Michael J. Running sold 633 shares of Plexus stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $97.99, for a total value of $62,027.67. Following the transaction, the insider now directly owns 1,569 shares in the company, valued at approximately $153,746.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Michael J. Running sold 633 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $97.99, for a total transaction of $62,027.67. Following the sale, the insider now owns 1,569 shares in the company, valued at $153,746.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd P. Kelsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the transaction, the chief executive officer now directly owns 121,310 shares of the company’s stock, valued at approximately $11,403,140. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,379 shares of company stock worth $2,826,825. Insiders own 2.39% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PLXS. Principal Financial Group Inc. boosted its position in Plexus by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 151,190 shares of the technology company’s stock worth $14,336,000 after acquiring an additional 387 shares during the period. Speece Thorson Capital Group Inc. acquired a new stake in shares of Plexus during the first quarter worth approximately $1,612,000. AlphaMark Advisors LLC acquired a new stake in shares of Plexus during the first quarter worth approximately $267,000. Bridge City Capital LLC purchased a new position in Plexus during the first quarter valued at approximately $2,149,000. Finally, Congress Asset Management Co. MA increased its stake in Plexus by 1.1% in the 1st quarter. Congress Asset Management Co. MA now owns 16,273 shares of the technology company’s stock valued at $1,543,000 after buying an additional 184 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.