Plexus Corp. (PLXS) is Reiterated by Needham to Buy, Raises Price Target to $ 52

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 $ 52 from a previous price target of $50 . Needham advised their investors in a research report released on Jul 22, 2016.

On the company’s financial health, Plexus Corp. reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.77. The company had revenue of $667.61 million for the quarter, compared to analysts expectations of $655.43 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.69 EPS.

Plexus Corp. closed down -0.07 points or -0.15% at $45.75 with 1,88,784 shares getting traded on Wednesday. Post opening the session at $46.09, the shares hit an intraday low of $45.66 and an intraday high of $46.28 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jun 7, 2016, Todd P. Kelsey (Exec VP & Chief Operating Off) sold 11,000 shares at $44.32 per share price. According to the SEC, on Jun 6, 2016, Dean A Foate (Chairman, President and CEO) sold 28,149 shares at $44.44 per share price. On Jun 6, 2016, Philip R Martens (director) sold 3,750 shares at $44.07 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 Company’s Design for Excellence (DFX) solutions consist of collection of specific design solutions including design for test design for manufacturability/assembly and design for fabrication.

Plexus Corp.

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