Benchmark Increases Plexus (NASDAQ:PLXS) Price Target to $120.00

Plexus (NASDAQ:PLXS) had its price objective increased by research analysts at Benchmark from $110.00 to $120.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Benchmark’s price target would suggest a potential upside of 15.70% from the stock’s current price.

A number of other research firms have also recently issued reports on PLXS. Needham & Company LLC increased their target price on Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus raised their price objective on Plexus from $90.00 to $95.00 and gave the company a “hold” rating in a report on Friday, April 26th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $110.25.

Plexus Price Performance

PLXS opened at $103.72 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.51 and a debt-to-equity ratio of 0.15. Plexus has a 12 month low of $87.21 and a 12 month high of $114.27. The company has a fifty day simple moving average of $104.52 and a 200 day simple moving average of $100.59. The stock has a market cap of $2.84 billion, a P/E ratio of 28.65 and a beta of 0.95.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.94 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 business 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 quarterly revenue was down 9.7% on a year-over-year basis. On average, research analysts expect that Plexus will post 3.81 EPS for the current year.

Insider Activity at Plexus

In related news, CEO Todd P. Kelsey sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $102.10, for a total value of $102,100.00. Following the completion of the sale, the chief executive officer now directly owns 113,810 shares in the company, valued at approximately $11,620,001. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Plexus news, CFO Patrick John Jermain sold 4,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $100.43, for a total transaction of $477,042.50. Following the completion of the sale, the chief financial officer now directly owns 42,932 shares in the company, valued at $4,311,660.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $102.10, for a total transaction of $102,100.00. Following the sale, the chief executive officer now owns 113,810 shares of the company’s stock, valued at $11,620,001. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,730 shares of company stock worth $3,559,444. Insiders own 2.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PLXS. Norges Bank bought a new position in shares of Plexus during the fourth quarter worth approximately $19,533,000. Westfield Capital Management Co. LP increased its holdings in shares of Plexus by 108.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 298,262 shares of the technology company’s stock worth $32,251,000 after purchasing an additional 155,447 shares during the period. Vanguard Group Inc. increased its holdings in shares of Plexus by 2.2% during the first quarter. Vanguard Group Inc. now owns 3,515,866 shares of the technology company’s stock worth $333,374,000 after purchasing an additional 74,988 shares during the period. Fiduciary Management Inc. WI increased its holdings in shares of Plexus by 3.8% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,226,917 shares of the technology company’s stock worth $132,667,000 after purchasing an additional 44,398 shares during the period. Finally, Edgestream Partners L.P. bought a new position in shares of Plexus during the first quarter worth approximately $3,934,000. 94.45% of the stock is owned by institutional investors.

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.