Plexus (NASDAQ:PLXS) Given New $114.00 Price Target at Needham & Company LLC

Plexus (NASDAQ:PLXS) had its price target increased by Needham & Company LLC from $107.00 to $114.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued reports about the stock. Benchmark reiterated a buy rating and set a $110.00 price target on shares of Plexus in a report on Wednesday, January 17th. TheStreet lowered shares of Plexus from a b rating to a c+ rating in a report on Tuesday, February 13th. Finally, Sidoti lowered shares of Plexus from a buy rating to a neutral rating and set a $112.00 price objective for the company. in a report on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Plexus presently has an average rating of Hold and an average price target of $107.75.

Plexus Price Performance

Shares of Plexus stock opened at $100.28 on Friday. Plexus has a 52-week low of $83.84 and a 52-week high of $114.06. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 27.70 and a beta of 1.02. The company has a fifty day moving average of $94.48 and a 200-day moving average of $98.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.62 and a current ratio of 1.51.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The company had revenue of $966.90 million during the quarter, compared to analysts’ expectations of $950.75 million. During the same quarter in the prior year, the company earned $1.45 EPS. The firm’s revenue was down 9.7% on a year-over-year basis. Equities research analysts expect that Plexus will post 4.36 EPS for the current year.

Insider Transactions at Plexus

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of Plexus stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $97.18, for a total value of $358,982.92. Following the completion of the sale, the chief accounting officer now directly owns 40,875 shares in the company, valued at $3,972,232.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $97.18, for a total value of $358,982.92. Following the transaction, the chief accounting officer now owns 40,875 shares of the company’s stock, valued at $3,972,232.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd P. Kelsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the transaction, the chief executive officer now directly owns 121,310 shares in the company, valued at approximately $11,403,140. The disclosure for this sale can be found here. Insiders sold 32,453 shares of company stock worth $3,112,875 over the last three months. 2.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plexus

A number of institutional investors and hedge funds have recently made changes to their positions in PLXS. Norges Bank purchased a new position in shares of Plexus in the fourth quarter worth approximately $19,533,000. Westfield Capital Management Co. LP lifted its holdings in Plexus by 108.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 298,262 shares of the technology company’s stock valued at $32,251,000 after purchasing an additional 155,447 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in Plexus during the third quarter valued at approximately $5,865,000. Vanguard Group Inc. lifted its holdings in Plexus by 1.4% during the third quarter. Vanguard Group Inc. now owns 3,453,940 shares of the technology company’s stock valued at $321,147,000 after purchasing an additional 47,762 shares in the last quarter. Finally, Fiduciary Management Inc. WI lifted its holdings in Plexus by 3.8% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock valued at $132,667,000 after purchasing an additional 44,398 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.