Plexus Corp. (NASDAQ:PLXS) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday.

Several other research analysts also recently commented on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $57.00 target price on shares of Plexus Corp. in a report on Saturday, April 22nd. Zacks Investment Research upgraded shares of Plexus Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Deutsche Bank AG lifted their target price on shares of Plexus Corp. from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Friday, July 21st. Stifel Nicolaus reiterated a “hold” rating and issued a $54.00 target price (up previously from $50.00) on shares of Plexus Corp. in a report on Friday, July 21st. Finally, Citigroup Inc. lifted their target price on shares of Plexus Corp. from $56.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $58.25.

Shares of Plexus Corp. (PLXS) traded up 1.37% during mid-day trading on Wednesday, reaching $51.02. The company had a trading volume of 148,791 shares. The stock has a market capitalization of $1.71 billion, a P/E ratio of 17.22 and a beta of 0.93. Plexus Corp. has a 52-week low of $44.35 and a 52-week high of $58.74. The company’s 50-day moving average is $52.79 and its 200 day moving average is $54.04.

Plexus Corp. (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 19th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The business had revenue of $618.80 million during the quarter, compared to analyst estimates of $608.95 million. During the same quarter in the previous year, the business earned $0.82 EPS. Plexus Corp.’s quarterly revenue was down 7.3% compared to the same quarter last year. Analysts anticipate that Plexus Corp. will post $3.22 EPS for the current fiscal year.

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In related news, CEO Todd P. Kelsey sold 11,250 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $55.09, for a total value of $619,762.50. Following the transaction, the chief executive officer now directly owns 57,175 shares in the company, valued at $3,149,770.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $54.94, for a total transaction of $109,880.00. Following the completion of the transaction, the chief executive officer now owns 57,175 shares in the company, valued at $3,141,194.50. The disclosure for this sale can be found here. Insiders sold 75,106 shares of company stock worth $4,116,356 over the last 90 days. 4.30% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Plexus Corp. by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,661,720 shares of the technology company’s stock valued at $153,848,000 after buying an additional 95,203 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Plexus Corp. by 11.9% in the first quarter. Ameriprise Financial Inc. now owns 337,760 shares of the technology company’s stock valued at $19,522,000 after buying an additional 35,999 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Plexus Corp. by 1.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 12,950 shares of the technology company’s stock valued at $749,000 after buying an additional 150 shares during the last quarter. Thrivent Financial For Lutherans increased its stake in shares of Plexus Corp. by 5.4% in the first quarter. Thrivent Financial For Lutherans now owns 19,050 shares of the technology company’s stock valued at $1,101,000 after buying an additional 980 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Plexus Corp. by 2.0% in the first quarter. Swiss National Bank now owns 55,200 shares of the technology company’s stock valued at $3,191,000 after buying an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

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.

Analyst Recommendations for Plexus Corp. (NASDAQ:PLXS)

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