Plexus’ (PLXS) Buy Rating Reaffirmed at Benchmark

Benchmark reaffirmed their buy rating on shares of Plexus (NASDAQ:PLXS) in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a $150.00 price objective on the technology company’s stock.

Separately, Needham & Company LLC upped their price target on shares of Plexus from $114.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $125.25.

Plexus Stock Performance

Plexus stock opened at $144.89 on Monday. Plexus has a fifty-two week low of $87.21 and a fifty-two week high of $153.60. The company has a market capitalization of $3.95 billion, a PE ratio of 36.50 and a beta of 0.89. The company has a 50 day moving average price of $130.48 and a 200-day moving average price of $115.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 1.47.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, October 23rd. The technology company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.30. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Plexus had a return on equity of 9.64% and a net margin of 2.82%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.44 EPS. As a group, equities analysts forecast that Plexus will post 3.74 earnings per share for the current year.

Insider Transactions at Plexus

In related news, CEO Todd P. Kelsey sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $128.40, for a total transaction of $385,200.00. Following the completion of the transaction, the chief executive officer now owns 93,682 shares in the company, valued at $12,028,768.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Victor (Pang Hau) Tan sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total value of $127,500.00. Following the completion of the sale, the insider now owns 8,605 shares of the company’s stock, valued at $1,097,137.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 3,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $128.40, for a total value of $385,200.00. Following the transaction, the chief executive officer now directly owns 93,682 shares in the company, valued at $12,028,768.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,113 shares of company stock valued at $2,541,394 in the last 90 days. Insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On Plexus

A number of large investors have recently modified their holdings of the business. Louisiana State Employees Retirement System increased its holdings in Plexus by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the technology company’s stock worth $1,424,000 after buying an additional 100 shares during the period. SummerHaven Investment Management LLC increased its stake in shares of Plexus by 1.9% in 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 during the period. QRG Capital Management Inc. raised its holdings in shares of 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. Farrow Financial Inc. lifted its position in Plexus by 0.7% during the third quarter. Farrow Financial Inc. now owns 21,692 shares of the technology company’s stock valued at $2,966,000 after purchasing an additional 155 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Plexus by 2.2% in the second quarter. Arizona State Retirement System now owns 7,729 shares of the technology company’s stock valued at $797,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.