Benchmark Issues Positive Forecast for Plexus (NASDAQ:PLXS) Stock Price

Plexus (NASDAQ:PLXS) had its target price lifted by stock analysts at Benchmark from $165.00 to $195.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Benchmark’s price objective points to a potential upside of 12.39% from the company’s previous close.

Several other brokerages have also commented on PLXS. Needham & Company LLC boosted their price target on Plexus from $158.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Wall Street Zen downgraded Plexus from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of Plexus in a research report on Thursday, January 22nd. Sidoti downgraded Plexus from a “buy” rating to a “neutral” rating and set a $150.00 price target for the company. in a research note on Friday, October 24th. Finally, Stifel Nicolaus set a $150.00 price objective on shares of Plexus in a research note on Friday, October 24th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $165.00.

Plexus Stock Down 1.4%

Plexus stock opened at $173.51 on Wednesday. The stock’s 50 day moving average price is $156.61 and its 200 day moving average price is $144.79. Plexus has a 1-year low of $103.43 and a 1-year high of $186.47. The company has a market cap of $4.64 billion, a PE ratio of 27.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.58 and a quick ratio of 0.77.

Insider Activity

In related news, CFO Patrick John Jermain sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $143.53, for a total transaction of $287,060.00. Following the completion of the sale, the chief financial officer directly owned 16,961 shares of the company’s stock, valued at approximately $2,434,412.33. This represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Oliver K. Mihm sold 2,327 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $143.18, for a total value of $333,179.86. Following the completion of the sale, the chief operating officer directly owned 18,442 shares of the company’s stock, valued at $2,640,525.56. The trade was a 11.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,674 shares of company stock valued at $1,382,876 in the last 90 days. 1.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Plexus

Hedge funds have recently bought and sold shares of the company. Salomon & Ludwin LLC bought a new stake in shares of Plexus in the 3rd quarter valued at approximately $30,000. Allworth Financial LP increased its stake in Plexus by 70.1% during the third quarter. Allworth Financial LP now owns 250 shares of the technology company’s stock valued at $36,000 after purchasing an additional 103 shares during the last quarter. Huntington National Bank raised its holdings in shares of Plexus by 41.5% during the second quarter. Huntington National Bank now owns 324 shares of the technology company’s stock worth $44,000 after purchasing an additional 95 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Plexus in the 3rd quarter worth about $72,000. Finally, CWM LLC boosted its holdings in shares of Plexus by 65.7% in the 2nd quarter. CWM LLC now owns 537 shares of the technology company’s stock valued at $73,000 after buying an additional 213 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

About Plexus

Plexus Corp. (NASDAQ: PLXS) is a global provider of electronics manufacturing services (EMS) and precision engineered electronics solutions. Headquartered in Neenah, Wisconsin, the company partners with original equipment manufacturers across industries such as medical, industrial, aerospace and defense, computing, and communications. Plexus offers a full suite of services that span new product introduction, product lifecycle management, supply chain management, printed circuit board assembly, system integration, and aftermarket support.

Founded in 1979, Plexus has grown from a regional electronics assembler into a multinational organization with manufacturing and engineering centers across North America, Europe, and Asia.