Plexus (NASDAQ:PLXS) Given New $120.00 Price Target at Benchmark

Plexus (NASDAQ:PLXSGet Free Report) had its target price hoisted by equities research analysts at Benchmark from $110.00 to $120.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Benchmark’s price target indicates a potential upside of 15.70% from the stock’s current price.

A number of other research firms have also weighed in on PLXS. Stifel Nicolaus upped their price target on shares of Plexus from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Needham & Company LLC upped their price target on shares of Plexus from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Three 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 currently has an average rating of “Hold” and a consensus price target of $110.25.

Check Out Our Latest Research Report on PLXS

Plexus Stock Up 1.0 %

Shares of PLXS stock opened at $103.72 on Friday. Plexus has a 12 month low of $87.21 and a 12 month high of $114.27. The stock has a market cap of $2.84 billion, a P/E ratio of 28.65 and a beta of 0.95. The company has a current ratio of 1.51, a quick ratio of 0.64 and a debt-to-equity ratio of 0.15. The company has a 50 day simple moving average of $104.52 and a two-hundred day simple moving average of $100.59.

Plexus (NASDAQ:PLXSGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. The business had revenue of $966.90 million during the quarter, compared to analyst estimates of $950.75 million. Plexus had a net margin of 2.54% and a return on equity of 10.77%. The company’s revenue was down 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.45 earnings per share. On average, research analysts expect that Plexus will post 3.81 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Patrick John Jermain sold 4,750 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 42,932 shares in the company, valued at $4,311,660.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Plexus news, CEO Todd P. Kelsey sold 4,248 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $101.67, for a total transaction of $431,894.16. Following the completion of the transaction, the chief executive officer now owns 108,562 shares in the company, valued at $11,037,498.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patrick John Jermain sold 4,750 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 42,932 shares of the company’s stock, valued at approximately $4,311,660.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,730 shares of company stock worth $3,559,444. 2.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Plexus

Several institutional investors have recently bought and sold shares of PLXS. Comerica Bank raised its stake in shares of Plexus by 22.5% in the first quarter. Comerica Bank now owns 81,817 shares of the technology company’s stock valued at $7,758,000 after acquiring an additional 15,046 shares during the period. Tidal Investments LLC raised its stake in shares of Plexus by 40.0% in the first quarter. Tidal Investments LLC now owns 3,364 shares of the technology company’s stock valued at $319,000 after acquiring an additional 961 shares during the period. Janus Henderson Group PLC raised its stake in shares of Plexus by 68.4% in the first quarter. Janus Henderson Group PLC now owns 66,261 shares of the technology company’s stock valued at $6,281,000 after acquiring an additional 26,904 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Plexus by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,513 shares of the technology company’s stock valued at $2,135,000 after acquiring an additional 1,022 shares during the period. Finally, EntryPoint Capital LLC raised its stake in shares of Plexus by 56.2% in the first quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock valued at $93,000 after acquiring an additional 351 shares during the period. Institutional investors own 94.45% of the company’s stock.

About Plexus

(Get Free Report)

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.

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