Shares of Plexus Corp. (NASDAQ:PLXS) have earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $57.86.

Several analysts have recently issued reports on PLXS shares. J P Morgan Chase & Co raised shares of Plexus from a “neutral” rating to an “overweight” rating and set a $62.00 price objective for the company in a research note on Monday, August 28th. Citigroup boosted their price objective on shares of Plexus from $59.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Zacks Investment Research cut shares of Plexus from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. ValuEngine raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $54.00 price objective on shares of Plexus in a research note on Tuesday, September 12th.

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 16,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $61.58, for a total transaction of $985,280.00. Following the completion of the sale, the chief accounting officer now directly owns 18,159 shares of the company’s stock, valued at approximately $1,118,231.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Ronnie Darroch sold 4,513 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $61.10, for a total transaction of $275,744.30. Following the completion of the transaction, the vice president now owns 9,677 shares in the company, valued at approximately $591,264.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 205,696 shares of company stock valued at $12,706,971. 4.30% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Riverhead Capital Management LLC lifted its holdings in Plexus by 69.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock worth $124,000 after buying an additional 966 shares in the last quarter. Appleton Group LLC acquired a new position in Plexus in the 3rd quarter worth $201,000. Neuberger Berman Group LLC lifted its holdings in Plexus by 0.8% in the 2nd quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after buying an additional 31 shares in the last quarter. Amalgamated Bank lifted its holdings in Plexus by 1.4% in the 2nd quarter. Amalgamated Bank now owns 4,582 shares of the technology company’s stock worth $241,000 after buying an additional 65 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in Plexus in the 2nd quarter worth $263,000. Hedge funds and other institutional investors own 94.16% of the company’s stock.

Shares of Plexus (NASDAQ PLXS) opened at $60.70 on Thursday. Plexus has a 12 month low of $49.06 and a 12 month high of $64.12. The stock has a market cap of $2,050.00, a price-to-earnings ratio of 18.98 and a beta of 0.87. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.03.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.02. Plexus had a net margin of 4.43% and a return on equity of 11.48%. The company had revenue of $670.00 million during the quarter, compared to analysts’ expectations of $676.23 million. During the same period in the previous year, the company earned $0.82 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. sell-side analysts predict that Plexus will post 3.41 earnings per share for the current fiscal year.

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About Plexus

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 (NASDAQ:PLXS)

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