Benchmark Increases Plexus (NASDAQ:PLXS) Price Target to $165.00

Plexus (NASDAQ:PLXS - Get Free Report) had its price target lifted by research analysts at Benchmark from $150.00 to $165.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Benchmark's target price suggests a potential upside of 15.13% from the stock's current price.

Several other research firms have also weighed in on PLXS. 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. KeyCorp initiated coverage on Plexus in a research note on Tuesday, October 22nd. They set a "sector weight" rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $133.50.

Plexus Trading Up 1.5 %

PLXS traded up $2.13 during trading on Monday, reaching $143.32. 215,635 shares of the company's stock were exchanged, compared to its average volume of 129,284. The company's fifty day moving average price is $131.15 and its 200-day moving average price is $116.73. The firm has a market capitalization of $3.90 billion, a PE ratio of 35.74 and a beta of 0.89. Plexus has a fifty-two week low of $90.18 and a fifty-two week high of $153.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.51.

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, beating analysts' consensus estimates of $1.55 by $0.30. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. The firm's revenue was up 2.6% on a year-over-year basis. As a group, equities analysts forecast that Plexus will post 5.63 EPS for the current year.

Insider Transactions at Plexus

In related news, Director Karen Marie Rapp sold 500 shares of the company's stock in a transaction 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 completion of the transaction, the director now directly owns 9,586 shares of the company's stock, valued at approximately $1,227,199.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Steven J. Frisch sold 6,565 shares of the business's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $128.11, for a total value of $841,042.15. Following the sale, the insider now owns 36,118 shares of the company's stock, valued at $4,627,076.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karen Marie Rapp sold 500 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 9,586 shares of the company's stock, valued at approximately $1,227,199.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,113 shares of company stock valued at $2,541,394 over the last quarter. Corporate insiders own 2.39% of the company's stock.

Hedge Funds Weigh In On Plexus

A number of large investors have recently modified their holdings of PLXS. Louisiana State Employees Retirement System raised its holdings in Plexus by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company's stock worth $1,424,000 after acquiring an additional 100 shares in the last quarter. SummerHaven Investment Management LLC raised its position in Plexus by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company's stock worth $766,000 after acquiring an additional 137 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Plexus by 4.3% in the second quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company's stock valued at $383,000 after acquiring an additional 152 shares during the last quarter. Farrow Financial Inc. grew its position in shares of Plexus by 0.7% in the 3rd quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company's stock valued at $2,966,000 after acquiring an additional 155 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of Plexus by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 7,729 shares of the technology company's stock valued at $797,000 after purchasing an additional 170 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.