Plexus Corp. (PLXS) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 45 from a previous price target of $38 . Needham advised their investors in a research report released on Apr 22, 2016.
Many Wall Street Analysts have commented on Plexus Corp.. Company shares were Reiterated by RBC Capital Mkts on Apr 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 43 from a previous price target of $38 .
On the company’s financial health, Plexus Corp. reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.51. The company had revenue of $618.70 million for the quarter, compared to analysts expectations of $614.97 million. The company’s revenue was down -5.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.69 EPS.
Plexus Corp. opened for trading at $40 and hit $42.7 on the upside on Wednesday, eventually ending the session at $41.82, with a gain of 8.40% or 3.24 points. The heightened volatility saw the trading volume jump to 5,70,883 shares. Company has a market cap of $1,396 M.
In a different news, on Mar 2, 2016, Dean A Foate (Chairman, President and CEO) sold 18,750 shares at $36.82 per share price. According to the SEC, on Nov 4, 2015, Patrick John Jermain (CFO) purchased 1,000 shares at $35.33 per share price. On May 29, 2015, Ralf R Boer (director) sold 10,000 shares at $45.34 per share price, according to the Form-4 filing with the securities and exchange commission.
Plexus Corp. (Plexus) and its subsidiaries are engaged in the Electronic Manufacturing Services (EMS) industry. The Company delivers optimized solutions to its customers through its Product Realization Value Stream. 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 serves approximately 140 product companies in the Networking/Communications Healthcare/Life Sciences Industrial/Commercial and Defense/Security/Aerospace market sectors. The Company provides its solutions on a turnkey basis and it procures some or all materials required for product assembly and also provides select services on a consignment basis. The Companys Design for Excellence (DFX) solutions consist of collection of specific design solutions including design for test design for manufacturability/assembly and design for fabrication.