Plexus’ (PLXS) Buy Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of Plexus (NASDAQ:PLXS) in a research note published on Friday morning,Benzinga reports. The firm currently has a $160.00 price objective on the technology company’s stock.

Other research analysts have also issued reports about the stock. Stifel Nicolaus set a $145.00 price target on shares of Plexus in a research note on Thursday, April 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $162.00 price target (down previously from $172.00) on shares of Plexus in a report on Friday, April 25th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $155.67.

Plexus Stock Up 1.2%

Shares of NASDAQ PLXS opened at $134.28 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. Plexus has a 12 month low of $100.96 and a 12 month high of $172.89. The firm has a market capitalization of $3.64 billion, a PE ratio of 31.16 and a beta of 0.80. The firm has a fifty day simple moving average of $124.90 and a two-hundred day simple moving average of $143.02.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.54 by $0.12. Plexus had a net margin of 3.03% and a return on equity of 10.36%. The business had revenue of $980.17 million during the quarter, compared to analyst estimates of $980.07 million. During the same period in the prior year, the business earned $0.94 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts expect that Plexus will post 5.9 earnings per share for the current year.

Insider Buying and Selling

In other Plexus news, CEO Todd P. Kelsey sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $140.00, for a total transaction of $280,000.00. Following the sale, the chief executive officer now owns 87,665 shares in the company, valued at approximately $12,273,100. This trade represents a 2.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Running sold 1,250 shares of Plexus stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $138.62, for a total transaction of $173,275.00. Following the sale, the insider now owns 1,276 shares in the company, valued at approximately $176,879.12. The trade was a 49.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,137 shares of company stock valued at $577,916. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Plexus

Several institutional investors and hedge funds have recently modified their holdings of PLXS. TD Private Client Wealth LLC bought a new stake in shares of Plexus during the fourth quarter valued at approximately $28,000. Aquatic Capital Management LLC raised its position in shares of Plexus by 134.0% during the fourth quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company’s stock valued at $37,000 after buying an additional 134 shares during the last quarter. R Squared Ltd bought a new stake in Plexus in the fourth quarter worth $45,000. Nomura Asset Management Co. Ltd. raised its stake in Plexus by 45.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in Plexus during the fourth quarter valued at $56,000. Institutional investors own 94.45% of the company’s stock.

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.