Shares of Plexus Corp. (NASDAQ:PLXS) have been given an average recommendation of “Hold” by the seven research firms that are presently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $58.75.
A number of brokerages have issued reports on PLXS. Zacks Investment Research raised Plexus Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. J P Morgan Chase & Co began coverage on Plexus Corp. in a research report on Tuesday, April 4th. They issued a “neutral” rating and a $65.00 target price on the stock. BidaskClub lowered Plexus Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $57.00 price target on shares of Plexus Corp. in a report on Saturday, April 22nd.
In related news, Chairman Dean A. Foate sold 5,000 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $53.33, for a total value of $266,650.00. Following the completion of the sale, the chairman now directly owns 247,142 shares of the company’s stock, valued at approximately $13,180,082.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $53.49, for a total value of $106,980.00. Following the completion of the sale, the chief executive officer now directly owns 57,175 shares of the company’s stock, valued at $3,058,290.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,400 shares of company stock valued at $652,000. Insiders own 4.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Comerica Bank raised its position in shares of Plexus Corp. by 5.7% in the fourth quarter. Comerica Bank now owns 35,610 shares of the technology company’s stock valued at $1,955,000 after buying an additional 1,923 shares during the last quarter. State Street Corp raised its position in shares of Plexus Corp. by 9.1% in the fourth quarter. State Street Corp now owns 817,047 shares of the technology company’s stock valued at $44,154,000 after buying an additional 68,072 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Plexus Corp. by 19.4% in the fourth quarter. Renaissance Technologies LLC now owns 225,400 shares of the technology company’s stock valued at $12,181,000 after buying an additional 36,600 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Plexus Corp. by 6.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 18,070 shares of the technology company’s stock valued at $976,000 after buying an additional 1,090 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Plexus Corp. during the fourth quarter valued at $22,421,000. 94.20% of the stock is currently owned by institutional investors.
Plexus Corp. (NASDAQ:PLXS) opened at 51.46 on Monday. Plexus Corp. has a 52-week low of $42.59 and a 52-week high of $58.74. The firm has a 50-day moving average of $52.02 and a 200-day moving average of $54.34. The firm has a market cap of $1.74 billion, a PE ratio of 17.27 and a beta of 0.93.
Plexus Corp. (NASDAQ:PLXS) last issued its earnings results on Wednesday, April 19th. The technology company reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.08. The business had revenue of $604.30 million during the quarter, compared to analysts’ expectations of $633.72 million. Plexus Corp. had a return on equity of 11.10% and a net margin of 4.01%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. Equities analysts anticipate that Plexus Corp. will post $3.22 EPS for the current year.
About Plexus Corp.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.
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