Plexus (NASDAQ:PLXS) Price Target Lowered to $160.00 at Benchmark

Plexus (NASDAQ:PLXS) had its target price lowered by investment analysts at Benchmark from $170.00 to $160.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Benchmark’s price objective points to a potential upside of 26.18% from the company’s previous close.

Several other research analysts have also recently issued reports on PLXS. Needham & Company LLC reiterated a “buy” rating and issued a $162.00 price objective (down from $172.00) on shares of Plexus in a report on Friday. Stifel Nicolaus set a $145.00 price objective on Plexus in a report on Thursday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $155.67.

Plexus Trading Up 1.2 %

NASDAQ:PLXS opened at $126.80 on Friday. Plexus has a 1 year low of $99.79 and a 1 year high of $172.89. The business has a fifty day moving average of $125.74 and a 200-day moving average of $144.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 29.42 and a beta of 0.83.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. Equities analysts predict that Plexus will post 5.9 earnings per share for the current year.

Insider Buying and Selling

In other Plexus news, insider Frank Zycinski sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $140.84, for a total value of $169,008.00. Following the completion of the transaction, the insider now directly owns 723 shares in the company, valued at $101,827.32. This trade represents a 62.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Patrick John Jermain sold 3,361 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $144.57, for a total transaction of $485,899.77. Following the sale, the chief financial officer now owns 20,745 shares in the company, valued at $2,999,104.65. This represents a 13.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,958 shares of company stock worth $2,551,930. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Plexus

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TD Private Client Wealth LLC purchased a new stake in Plexus in the 4th quarter worth about $28,000. Aquatic Capital Management LLC lifted its position in Plexus by 134.0% in the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company’s stock worth $37,000 after buying an additional 134 shares in the last quarter. R Squared Ltd purchased a new stake in Plexus in the 4th quarter worth approximately $45,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Plexus by 45.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock valued at $50,000 after buying an additional 100 shares during the period. Finally, USA Financial Formulas purchased a new position in shares of Plexus during the 4th quarter valued at $56,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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.