Plexus (NASDAQ:PLXS) Price Target Increased to $165.00 by Analysts at Benchmark

Plexus (NASDAQ:PLXS) had its price objective lifted by analysts at Benchmark from $150.00 to $165.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Benchmark’s price objective suggests a potential upside of 16.86% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. KeyCorp began coverage on Plexus in a research note on Tuesday, October 22nd. They issued a “sector weight” rating on the stock. Needham & Company LLC boosted their target price on shares of Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Plexus currently has a consensus rating of “Hold” and a consensus price target of $133.50.

Plexus Stock Performance

Shares of PLXS opened at $141.19 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 0.64. Plexus has a 12-month low of $88.57 and a 12-month high of $153.60. The business’s fifty day moving average price is $130.82 and its 200 day moving average price is $116.40. The stock has a market capitalization of $3.87 billion, a PE ratio of 39.00 and a beta of 0.89.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.30. The company had revenue of $1.05 billion during 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%. Plexus’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.44 earnings per share. Equities research analysts forecast that Plexus will post 3.74 EPS for the current year.

Insider Buying and Selling

In other Plexus news, insider Steven J. Frisch sold 6,565 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $128.11, for a total transaction of $841,042.15. Following the sale, the insider now directly owns 36,118 shares in the company, valued at approximately $4,627,076.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Todd P. Kelsey sold 1,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $123.75, for a total value of $123,750.00. Following the sale, the chief executive officer now owns 87,026 shares of the company’s stock, valued at approximately $10,769,467.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven J. Frisch sold 6,565 shares of the company’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 completion of the sale, the insider now owns 36,118 shares of the company’s stock, valued at approximately $4,627,076.98. 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 90 days. 2.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plexus

Hedge funds and other institutional investors have recently bought and sold shares of the business. Smith Group Asset Management LLC grew its stake in shares of Plexus by 24.6% in the 3rd quarter. Smith Group Asset Management LLC now owns 4,127 shares of the technology company’s stock worth $564,000 after purchasing an additional 815 shares during the last quarter. Farrow Financial Inc. increased its position in shares of Plexus by 0.7% in the third quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company’s stock worth $2,966,000 after acquiring an additional 155 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Plexus during the third quarter valued at approximately $208,000. Legacy Wealth Asset Management LLC acquired a new position in Plexus in the 3rd quarter worth approximately $217,000. Finally, Assenagon Asset Management S.A. raised its stake in Plexus by 158.0% during 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 purchasing an additional 50,564 shares during the period. 94.45% of the stock is currently owned by 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.