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

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

PLXS has been the subject of several other research reports. TheStreet downgraded shares of Plexus from a b rating to a c+ rating in a research note on Tuesday, February 13th. Benchmark reaffirmed a buy rating and set a $110.00 price target on shares of Plexus in a research note on Wednesday, January 17th. Finally, Sidoti downgraded shares of Plexus from a buy rating to a neutral rating and set a $112.00 price target for the company. in a research note on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $107.75.

Plexus Price Performance

Shares of NASDAQ:PLXS opened at $100.28 on Friday. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 27.70 and a beta of 1.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.51 and a quick ratio of 0.62. The firm has a 50 day simple moving average of $94.48 and a 200 day simple moving average of $98.41. Plexus has a one year low of $83.84 and a one year high of $114.06.

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

Insider Buying and Selling

In related news, CFO Patrick John Jermain sold 2,532 shares of Plexus stock in a transaction on Monday, January 29th. The shares were sold at an average price of $92.51, for a total transaction of $234,235.32. Following the completion of the transaction, the chief financial officer now owns 54,651 shares of the company’s stock, valued at $5,055,764.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Plexus news, insider Michael J. Running sold 542 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $95.60, for a total value of $51,815.20. Following the completion of the sale, the insider now directly owns 1,569 shares in the company, valued at $149,996.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patrick John Jermain sold 2,532 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $92.51, for a total transaction of $234,235.32. Following the completion of the sale, the chief financial officer now owns 54,651 shares of the company’s stock, valued at $5,055,764.01. The disclosure for this sale can be found here. Insiders sold 32,453 shares of company stock valued at $3,112,875 over the last quarter. Insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Plexus

A number of large investors have recently bought and sold shares of PLXS. Parallel Advisors LLC grew its holdings in Plexus by 72.3% in the fourth quarter. Parallel Advisors LLC now owns 348 shares of the technology company’s stock worth $38,000 after purchasing an additional 146 shares during the period. GAMMA Investing LLC acquired a new position in shares of Plexus during the fourth quarter valued at about $44,000. Cetera Trust Company N.A acquired a new position in shares of Plexus during the fourth quarter valued at about $54,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Plexus during the fourth quarter valued at about $66,000. Finally, Avior Wealth Management LLC acquired a new position in shares of Plexus during the third quarter valued at about $91,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.