Plexus (NASDAQ:PLXS) Price Target Raised to $162.00 at Needham & Company LLC

Plexus (NASDAQ:PLXS - Get Free Report) had its price objective increased by investment analysts at Needham & Company LLC from $144.00 to $162.00 in a report issued on Friday, Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Needham & Company LLC's target price suggests a potential upside of 14.74% from the stock's current price.

A number of other analysts have also weighed in on the company. Benchmark reissued a "buy" rating and set a $150.00 price objective on shares of Plexus in a research note on Monday. KeyCorp began coverage on shares of Plexus in a report on Tuesday. They issued a "sector weight" rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $129.75.

Plexus Trading Down 2.6 %

Shares of PLXS stock traded down $3.70 on Friday, hitting $141.19. 318,082 shares of the company's stock traded hands, compared to its average volume of 128,867. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 36.50 and a beta of 0.89. The company's fifty day simple moving average is $130.48 and its 200 day simple moving average is $115.82. Plexus has a one year low of $88.57 and a one year high of $153.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 1.47.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.55 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The company's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.44 earnings per share. Equities analysts forecast that Plexus will post 3.74 EPS for the current year.

Insider Activity at Plexus

In other news, CEO Todd P. Kelsey sold 3,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $128.40, for a total value of $385,200.00. Following the completion of the transaction, the chief executive officer now owns 93,682 shares of the company's stock, valued at approximately $12,028,768.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Todd P. Kelsey sold 3,000 shares of the business's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $128.40, for a total transaction of $385,200.00. Following the sale, the chief executive officer now owns 93,682 shares of the company's stock, valued at $12,028,768.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen Marie Rapp sold 500 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $128.02, for a total transaction of $64,010.00. Following the transaction, the director now directly owns 9,586 shares of the company's stock, valued at $1,227,199.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,113 shares of company stock worth $2,541,394 over the last 90 days. 2.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Plexus

A number of institutional investors have recently modified their holdings of PLXS. American Century Companies Inc. boosted its stake in Plexus by 204.3% in the 2nd quarter. American Century Companies Inc. now owns 158,032 shares of the technology company's stock worth $16,306,000 after purchasing an additional 106,103 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Plexus by 8.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,079,340 shares of the technology company's stock valued at $111,366,000 after buying an additional 87,574 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of Plexus by 28.8% during the first quarter. Westfield Capital Management Co. LP now owns 384,248 shares of the technology company's stock valued at $36,434,000 after acquiring an additional 85,986 shares in the last quarter. Vanguard Group Inc. raised its holdings in Plexus by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company's stock worth $333,374,000 after acquiring an additional 74,988 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Plexus by 158.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 82,575 shares of the technology company's stock valued at $11,289,000 after acquiring an additional 50,564 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other 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.