Stifel Nicolaus reiterated their hold rating on shares of Plexus Corp. (NASDAQ:PLXS) in a report issued on Tuesday morning. The brokerage currently has a $54.00 price objective on the technology company’s stock.

A number of other brokerages also recently commented on PLXS. Zacks Investment Research downgraded Plexus Corp. from a hold rating to a sell rating in a research report on Tuesday, July 25th. Deutsche Bank AG lifted their price objective on Plexus Corp. from $50.00 to $54.00 and gave the company a hold rating in a research report on Friday, July 21st. Citigroup Inc. lifted their price objective on Plexus Corp. from $56.00 to $59.00 and gave the company a neutral rating in a research report on Friday, July 21st. ValuEngine downgraded Plexus Corp. from a buy rating to a hold rating in a research report on Friday, July 14th. Finally, BidaskClub downgraded Plexus Corp. from a hold rating to a sell rating in a research report on Saturday, August 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $57.88.

Plexus Corp. (PLXS) opened at 52.48 on Tuesday. The stock has a 50 day moving average price of $51.88 and a 200 day moving average price of $53.41. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 17.72 and a beta of 0.94. Plexus Corp. has a 52 week low of $44.35 and a 52 week high of $58.74.

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

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In related news, CAO Angelo Michael Ninivaggi, Jr. sold 10,350 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $49.46, for a total value of $511,911.00. Following the transaction, the chief accounting officer now owns 17,009 shares in the company, valued at $841,265.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ralf R. Boer sold 1,374 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $50.00, for a total value of $68,700.00. Following the completion of the transaction, the director now owns 23,124 shares in the company, valued at approximately $1,156,200. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,580 shares of company stock worth $4,862,392. 4.30% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC lifted its stake in shares of Plexus Corp. by 69.0% in the second quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock worth $124,000 after acquiring an additional 966 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Plexus Corp. in the first quarter worth about $166,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Plexus Corp. in the first quarter worth about $200,000. Neuberger Berman Group LLC lifted its stake in shares of Plexus Corp. by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock worth $202,000 after acquiring an additional 31 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Plexus Corp. by 20.0% in the first quarter. SG Americas Securities LLC now owns 3,655 shares of the technology company’s stock worth $211,000 after acquiring an additional 609 shares in the last quarter. Institutional investors and hedge funds own 94.51% 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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