Needham & Company LLC set a $52.00 price target on Plexus Corp. (NASDAQ:PLXS) in a research note issued to investors on Friday. The brokerage currently has a a buy rating on the stock.

Several other research analysts also recently weighed in on the company. Citigroup Inc. upped their price target on Plexus Corp. from $45.00 to $50.00 and gave the stock a neutral rating in a research note on Thursday, June 9th. B. Riley downgraded Plexus Corp. from a buy rating to a neutral rating and set a $50.00 price target for the company. in a research note on Friday, July 22nd. Zacks Investment Research upgraded Plexus Corp. from a hold rating to a buy rating and set a $50.00 price target for the company in a research note on Friday, July 22nd. Finally, Royal Bank Of Canada restated a hold rating and issued a $46.00 price target on shares of Plexus Corp. in a research note on Friday, June 10th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Plexus Corp. has an average rating of Hold and an average target price of $48.17.

Plexus Corp. (NASDAQ:PLXS) opened at 46.68 on Friday. The stock has a market capitalization of $1.56 billion, a P/E ratio of 19.69 and a beta of 1.23. Plexus Corp. has a 52 week low of $28.72 and a 52 week high of $47.34. The company has a 50 day moving average of $46.27 and a 200 day moving average of $43.09.

Plexus Corp. (NASDAQ:PLXS) last released its earnings results on Wednesday, July 20th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.05. Plexus Corp. had a net margin of 3.16% and a return on equity of 9.95%. The company earned $667.60 million during the quarter, compared to analyst estimates of $655.37 million. During the same period in the prior year, the firm posted $0.69 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts expect that Plexus Corp. will post $2.64 EPS for the current fiscal year.

In related news, insider Yong Jin Lim sold 5,000 shares of the firm’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $46.49, for a total value of $232,450.00. Following the completion of the sale, the insider now directly owns 50,000 shares in the company, valued at $2,324,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 2,250 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $45.94, for a total value of $103,365.00. Following the completion of the sale, the chief accounting officer now owns 11,837 shares of the company’s stock, valued at $543,791.78. The disclosure for this sale can be found here. 5.30% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. PineBridge Investments L.P. increased its stake in shares of Plexus Corp. by 3.7% in the second quarter. PineBridge Investments L.P. now owns 4,229 shares of the company’s stock worth $183,000 after buying an additional 152 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Plexus Corp. by 0.4% in the second quarter. Alliancebernstein L.P. now owns 52,152 shares of the company’s stock worth $2,253,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Plexus Corp. by 1.2% in the second quarter. Arizona State Retirement System now owns 17,339 shares of the company’s stock worth $749,000 after buying an additional 200 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Plexus Corp. by 3.8% in the second quarter. PNC Financial Services Group Inc. now owns 6,975 shares of the company’s stock worth $301,000 after buying an additional 254 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Plexus Corp. by 1.1% in the second quarter. FMR LLC now owns 33,546 shares of the company’s stock worth $1,449,000 after buying an additional 369 shares in the last quarter. Institutional investors own 92.97% of the company’s stock.

Plexus Corp. Company Profile

Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus 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.

5 Day Chart for NASDAQ:PLXS

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