Plexus (NASDAQ:PLXS) Price Target Lowered to $158.00 at Needham & Company LLC

Key Points

• Needham & Company LLC has reduced its price target for Plexus from $162.00 to $158.00, while maintaining a "buy" rating, indicating a potential upside of 33.57% from the current stock price.
• The consensus target price for Plexus among analysts is currently $153.25, with a distribution of ratings that includes two hold ratings, three buy ratings, and one strong buy rating.
• Plexus reported $1.90 earnings per share for the last quarter, exceeding expectations and showcasing a 6.0% revenue increase compared to the previous year.

Plexus (NASDAQ:PLXS - Free Report) had its price target decreased by Needham & Company LLC from $162.00 to $158.00 in a research report released on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company's stock.

PLXS has been the topic of several other reports. Stifel Nicolaus set a $145.00 target price on Plexus in a research report on Thursday, April 24th. Benchmark reissued a "buy" rating and set a $160.00 price target on shares of Plexus in a report on Wednesday, June 4th. Finally, Wall Street Zen raised shares of Plexus from a "buy" rating to a "strong-buy" rating in a report on Monday, June 30th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $152.00.

Plexus Stock Up 2.2%

Shares of NASDAQ PLXS traded up $2.70 during trading on Thursday, reaching $127.40. The company had a trading volume of 63,909 shares, compared to its average volume of 182,134. The stock has a market cap of $3.45 billion, a PE ratio of 21.70 and a beta of 0.80. The company has a quick ratio of 0.74, a current ratio of 1.58 and a debt-to-equity ratio of 0.06. Plexus has a 12-month low of $103.43 and a 12-month high of $172.89. The business's 50-day moving average is $133.08 and its 200 day moving average is $133.11.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.19. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Plexus had a return on equity of 12.33% and a net margin of 4.04%. The company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.45 EPS. As a group, equities analysts forecast that Plexus will post 5.9 earnings per share for the current fiscal year.

Insider Transactions at Plexus

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 2,058 shares of Plexus stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $132.22, for a total value of $272,108.76. Following the completion of the transaction, the chief accounting officer owned 26,133 shares in the company, valued at approximately $3,455,305.26. The trade was a 7.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Marie Rapp sold 500 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $130.77, for a total value of $65,385.00. Following the sale, the director owned 9,365 shares in the company, valued at $1,224,661.05. The trade was a 5.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,032 shares of company stock worth $1,582,222 in the last quarter. Company insiders own 1.76% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Aquatic Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 134 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Plexus by 45.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock worth $50,000 after purchasing an additional 100 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Plexus by 1,000.0% during the first quarter. Versant Capital Management Inc now owns 473 shares of the technology company's stock valued at $61,000 after buying an additional 430 shares during the period. TD Private Client Wealth LLC raised its holdings in shares of Plexus by 185.6% in the first quarter. TD Private Client Wealth LLC now owns 514 shares of the technology company's stock worth $66,000 after buying an additional 334 shares during the period. Finally, Banque Transatlantique SA bought a new stake in shares of Plexus during the 1st quarter worth approximately $71,000. Institutional investors own 94.45% of the company's stock.

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.