Plexus (NASDAQ:PLXS) Given New $172.00 Price Target at Needham & Company LLC

Plexus (NASDAQ:PLXS - Get Free Report) had its target price boosted by equities research analysts at Needham & Company LLC from $162.00 to $172.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Needham & Company LLC's price target suggests a potential upside of 12.33% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. KeyCorp initiated coverage on shares of Plexus in a report on Tuesday, October 22nd. They issued a "sector weight" rating on the stock. Stifel Nicolaus increased their target price on shares of Plexus from $136.00 to $150.00 and gave the company a "hold" rating in a research report on Tuesday, December 10th. StockNews.com raised shares of Plexus from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Finally, Benchmark reissued a "buy" rating and set a $165.00 price objective on shares of Plexus in a report on Wednesday. Two equities 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.com, the company has an average rating of "Moderate Buy" and an average target price of $162.33.

Plexus Stock Down 0.1 %

PLXS stock traded down $0.18 during trading on Friday, reaching $153.12. The stock had a trading volume of 124,329 shares, compared to its average volume of 165,688. Plexus has a one year low of $90.18 and a one year high of $172.89. The company's 50 day moving average is $162.30 and its two-hundred day moving average is $141.25. 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 capitalization of $4.15 billion, a price-to-earnings ratio of 35.53 and a beta of 0.91.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 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%. Equities research analysts forecast that Plexus will post 6.13 EPS for the current year.

Insider Buying and Selling

In other Plexus news, insider Victor (Pang Hau) Tan sold 3,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $165.90, for a total value of $497,700.00. Following the transaction, the insider now directly owns 5,605 shares in the company, valued at $929,869.50. This represents a 34.86 % decrease in their position. The sale 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 company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $143.13, for a total transaction of $722,090.85. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,091 shares of company stock valued at $5,377,960. Company insiders own 1.76% of the company's stock.

Institutional Investors Weigh In On Plexus

Several institutional investors have recently bought and sold shares of the stock. Disciplined Growth Investors Inc. MN increased its position in shares of Plexus by 0.3% in 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 purchased a new stake in Plexus in the 3rd quarter worth approximately $899,000. Victory Capital Management Inc. increased its stake in shares of Plexus by 3.9% during the third quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company's stock valued at $27,367,000 after buying an additional 7,483 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI lifted its stake in 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 worth $1,825,000 after acquiring an additional 5,138 shares during the period. Finally, Stifel Financial Corp purchased a new position in Plexus during the 3rd quarter valued at $332,000. 94.45% of the stock is currently 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.