Plexus (NASDAQ:PLXS) Price Target Raised to $150.00 at Stifel Nicolaus

Plexus (NASDAQ:PLXS) had its target price boosted by Stifel Nicolaus from $136.00 to $150.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

PLXS has been the topic of several other research reports. Needham & Company LLC boosted their price target on shares of Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 25th. KeyCorp assumed coverage on Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating on the stock. StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Benchmark increased their price objective on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $147.25.

Plexus Price Performance

Plexus stock opened at $168.44 on Tuesday. The business’s 50 day simple moving average is $152.27 and its 200 day simple moving average is $129.52. Plexus has a 12 month low of $90.18 and a 12 month high of $170.07. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 42.00 and a beta of 0.90. The company has a current ratio of 1.51, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last issued its quarterly 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. Plexus had a return on equity of 9.51% and a net margin of 2.82%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts forecast that Plexus will post 6.14 EPS for the current year.

Insider Transactions at Plexus

In other news, insider Michael J. Running sold 539 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $155.87, for a total transaction of $84,013.93. Following the completion of the transaction, the insider now owns 1,030 shares of the company’s stock, valued at approximately $160,546.10. The trade was a 34.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Patrick John Jermain sold 2,643 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $166.32, for a total transaction of $439,583.76. Following the completion of the sale, the chief financial officer now directly owns 21,959 shares in the company, valued at $3,652,220.88. This represents a 10.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,591 shares of company stock valued at $5,143,375. 2.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. lifted its stake in Plexus by 4.3% during the second quarter. QRG Capital Management Inc. now owns 3,710 shares of the technology company’s stock worth $383,000 after purchasing an additional 152 shares during the last quarter. SG Americas Securities LLC lifted its position in Plexus by 142.5% in the 2nd quarter. SG Americas Securities LLC now owns 6,471 shares of the technology company’s stock worth $668,000 after buying an additional 3,802 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Plexus in the second quarter worth approximately $3,303,000. Blue Trust Inc. grew its position in Plexus by 6,970.0% during the second quarter. Blue Trust Inc. now owns 2,828 shares of the technology company’s stock valued at $268,000 after acquiring an additional 2,788 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its stake in shares of Plexus by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 7,425 shares of the technology company’s stock worth $766,000 after acquiring an additional 137 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other 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.