Plexus (NASDAQ:PLXS) Given "Buy" Rating at Benchmark

Benchmark reiterated their buy rating on shares of Plexus (NASDAQ:PLXS - Free Report) in a report issued on Wednesday,Benzinga reports. The brokerage currently has a $165.00 target price on the technology company's stock.

Several other brokerages have also commented on PLXS. StockNews.com upgraded Plexus from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. KeyCorp started coverage on shares of Plexus in a report on Tuesday, October 22nd. They issued a "sector weight" rating for the company. Needham & Company LLC increased their target price on shares of Plexus from $144.00 to $162.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Finally, Stifel Nicolaus lifted their price target on shares of Plexus from $136.00 to $150.00 and gave the company a "hold" rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $159.00.

Plexus Stock Down 10.1 %

Shares of PLXS traded down $17.19 during trading on Wednesday, reaching $153.30. The company's stock had a trading volume of 276,171 shares, compared to its average volume of 160,259. Plexus has a twelve month low of $90.18 and a twelve month high of $172.89. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 38.23 and a beta of 0.91. The company has a fifty day moving average of $162.30 and a two-hundred day moving average of $141.25.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a return on equity of 9.51% and a net margin of 2.82%. On average, sell-side analysts predict that Plexus will post 6.13 EPS for the current fiscal year.

Insider Transactions at Plexus

In related news, CEO Todd P. Kelsey sold 1,500 shares of the firm's stock in a transaction that occurred on 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 $11,615,241.69. This trade represents a 1.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Patrick John Jermain sold 5,045 shares of the business's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $143.13, for a total value of $722,090.85. Following the transaction, the chief financial officer now owns 24,602 shares of the company's stock, valued at $3,521,284.26. This trade represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,091 shares of company stock worth $5,377,960. Insiders own 1.76% of the company's stock.

Institutional Trading of Plexus

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Disciplined Growth Investors Inc. MN increased its stake in shares of Plexus by 0.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,109,047 shares of the technology company's stock valued at $217,611,000 after acquiring an additional 7,245 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Plexus during the 3rd quarter valued at $899,000. Victory Capital Management Inc. raised its stake in shares of Plexus by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company's stock worth $27,367,000 after buying an additional 7,483 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI lifted its holdings in shares of Plexus by 62.6% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 13,346 shares of the technology company's stock valued at $1,825,000 after buying an additional 5,138 shares during the period. Finally, Stifel Financial Corp bought a new position in Plexus during the third quarter valued at about $332,000. 94.45% of the stock is currently owned by institutional investors.

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.