Plexus (NASDAQ:PLXS – Get Rating) had its target price cut by Needham & Company LLC from $112.00 to $108.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the technology company's stock.
Several other analysts also recently commented on PLXS. Sidoti downgraded shares of Plexus from a buy rating to a neutral rating and set a $116.00 price target for the company. in a research report on Tuesday, January 17th. Raymond James increased their price target on shares of Plexus from $105.00 to $115.00 and gave the company an outperform rating in a report on Friday, October 28th. Benchmark increased their price objective on shares of Plexus to $110.00 in a research note on Tuesday, November 1st. Finally, StockNews.com assumed coverage on shares of Plexus in a research note on Wednesday, October 12th. They set a hold rating on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Plexus currently has a consensus rating of Moderate Buy and a consensus price target of $107.00.
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Plexus Price Performance
Shares of PLXS stock opened at $93.56 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.44 and a quick ratio of 0.60. The firm's 50-day moving average is $107.19 and its two-hundred day moving average is $98.07. Plexus has a 12 month low of $72.88 and a 12 month high of $115.36. The company has a market capitalization of $2.59 billion, a PE ratio of 16.86 and a beta of 1.13.
Plexus (NASDAQ:PLXS – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The technology company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.02. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.11 billion. Plexus had a net
margin of 3.84% and a return on equity of 14.45%. The business's revenue was up 33.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. Analysts predict that Plexus will post 5.96 earnings per share for the current year.
Insider Activity at Plexus
In related news, insider Steven J. Frisch sold 400 shares of Plexus stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $102.97, for a total value of $41,188.00. Following the transaction, the insider now owns 49,686 shares of the company's stock, valued at approximately $5,116,167.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Steven J. Frisch sold 5,761 shares of the business's stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $100.88, for a total value of $581,169.68. Following the completion of the sale, the insider now directly owns 43,925 shares in the company, valued at approximately $4,431,154. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven J. Frisch sold 400 shares of the company's stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $102.97, for a total value of $41,188.00. Following the transaction, the insider now owns 49,686 shares of the company's stock, valued at $5,116,167.42. The disclosure for this sale can be found here. Insiders have sold a total of 28,987 shares of company stock worth $3,046,097 over the last ninety days. 2.05% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of PLXS. Credit Agricole S A bought a new stake in shares of Plexus during the third quarter worth $25,000. BDO Wealth Advisors LLC acquired a new position in Plexus in the third quarter valued at about $27,000. Quadrant Capital Group LLC lifted its stake in Plexus by 138.6% in the second quarter. Quadrant Capital Group LLC now owns 396 shares of the technology company's stock valued at $31,000 after buying an additional 230 shares during the period. Ronald Blue Trust Inc. lifted its stake in Plexus by 292.8% in the third quarter. Ronald Blue Trust Inc. now owns 436 shares of the technology company's stock valued at $34,000 after buying an additional 325 shares during the period. Finally, Wipfli Financial Advisors LLC acquired a new position in Plexus in the third quarter valued at about $74,000. 96.01% of the stock is currently owned by institutional investors and hedge funds.
About Plexus
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Plexus Corp. engages in the provision of electronic manufacturing services. The firm partners with companies to transform concepts into branded products and deliver them to the market. It has partnerships with customers in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense market sectors.
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