Plexus (NASDAQ:PLXS) Price Target Increased to $95.00 by Analysts at Stifel Nicolaus

Plexus (NASDAQ:PLXS) had its price objective raised by Stifel Nicolaus from $90.00 to $95.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a hold rating on the technology company’s stock.

Several other research analysts have also weighed in on the stock. Needham & Company LLC upped their target price on shares of Plexus from $107.00 to $114.00 and gave the stock a buy rating in a research report on Friday. Benchmark reaffirmed a buy rating and issued a $110.00 price objective on shares of Plexus in a research note on Wednesday, January 17th. TheStreet downgraded Plexus from a b rating to a c+ rating in a research report on Tuesday, February 13th. Finally, Sidoti lowered Plexus from a buy rating to a neutral rating and set a $112.00 target price on the stock. in a report on Tuesday, January 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $107.75.

Plexus Price Performance

Shares of NASDAQ:PLXS opened at $102.25 on Friday. Plexus has a 52 week low of $83.84 and a 52 week high of $114.06. The company has a 50-day moving average price of $94.61 and a 200 day moving average price of $98.51. The company has a market cap of $2.82 billion, a P/E ratio of 28.25 and a beta of 1.02. The company has a quick ratio of 0.64, a current ratio of 1.51 and a debt-to-equity ratio of 0.15.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.07. Plexus had a return on equity of 10.77% and a net margin of 2.54%. The business had revenue of $966.90 million during the quarter, compared to the consensus estimate of $950.75 million. During the same period in the prior year, the business posted $1.45 EPS. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. Research analysts predict that Plexus will post 4.36 earnings per share for the current year.

Insider Buying and Selling

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $97.18, for a total transaction of $358,982.92. Following the sale, the chief accounting officer now owns 40,875 shares in the company, valued at approximately $3,972,232.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,694 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $97.18, for a total value of $358,982.92. Following the transaction, the chief accounting officer now directly owns 40,875 shares in the company, valued at approximately $3,972,232.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael J. Running sold 633 shares of Plexus stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $97.99, for a total transaction of $62,027.67. Following the sale, the insider now owns 1,569 shares of the company’s stock, valued at $153,746.31. The disclosure for this sale can be found here. Insiders sold 29,379 shares of company stock worth $2,826,825 in the last ninety days. Insiders own 2.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its holdings in shares of Plexus by 0.3% during the first quarter. Principal Financial Group Inc. now owns 151,190 shares of the technology company’s stock worth $14,336,000 after purchasing an additional 387 shares during the last quarter. Speece Thorson Capital Group Inc. purchased a new position in Plexus during the first quarter worth about $1,612,000. AlphaMark Advisors LLC purchased a new position in Plexus during the first quarter worth about $267,000. Bridge City Capital LLC acquired a new stake in Plexus in the 1st quarter worth about $2,149,000. Finally, Congress Asset Management Co. MA grew its holdings in Plexus by 1.1% in the 1st quarter. Congress Asset Management Co. MA now owns 16,273 shares of the technology company’s stock valued at $1,543,000 after buying an additional 184 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.