The stock of Plexus Corp. (NASDAQ:PLXS) hit a new 52-week high and has $52.95 target or 4.00% above today’s $50.91 share price. The 5 months bullish chart indicates low risk for the $1.71B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $52.95 price target is reached, the company will be worth $68.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 116,360 shares traded hands. Plexus Corp. (NASDAQ:PLXS) has risen 22.50% since April 25, 2016 and is uptrending. It has outperformed by 16.49% the S&P500.
Analysts await Plexus Corp. (NASDAQ:PLXS) to report earnings on January, 18. They expect $0.76 earnings per share, up 61.70% or $0.29 from last year’s $0.47 per share. PLXS’s profit will be $25.53M for 16.75 P/E if the $0.76 EPS becomes a reality. After $0.67 actual earnings per share reported by Plexus Corp. for the previous quarter, Wall Street now forecasts 13.43% EPS growth.
Plexus Corp. (NASDAQ:PLXS) Ratings Coverage
Out of 7 analysts covering Plexus (NASDAQ:PLXS), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. Plexus has been the topic of 9 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock has “Hold” rating given by Deutsche Bank on Monday, September 7. The rating was downgraded by Numis Securities to “Add” on Wednesday, November 18. Needham maintained Plexus Corp. (NASDAQ:PLXS) rating on Friday, July 24. Needham has “Strong Buy” rating and $46 price target. The stock of Plexus Corp. (NASDAQ:PLXS) earned “Neutral” rating by Citigroup on Thursday, June 9. B. Riley & Co downgraded the stock to “Neutral” rating in Friday, July 22 report. The stock has “Buy” rating given by Goldman Sachs on Monday, August 3. The firm earned “Sector Perform” rating on Tuesday, October 13 by RBC Capital Markets. Goldman Sachs downgraded Plexus Corp. (NASDAQ:PLXS) on Friday, October 23 to “Neutral” rating. On Friday, July 22 the stock rating was maintained by Needham with “Buy”.
According to Zacks Investment Research, “Plexus Corp., through its subsidiaries, provides product realization services to original equipment manufacturers in the medical, computer, industrial, networking, telecommunications and transportation electronics industries. Plexus offers a full range of services including product development and design, material procurement and management, prototyping, manufacturing and assembly, functional and in-circuit testing, final system box build, distribution and after-market support.”
Insitutional Activity: The institutional sentiment decreased to 1.44 in Q2 2016. Its down 0.03, from 1.47 in 2016Q1. The ratio fall, as 12 funds sold all Plexus Corp. shares owned while 50 reduced positions. 33 funds bought stakes while 58 increased positions. They now own 30.51 million shares or 5.13% more from 29.02 million shares in 2016Q1.
Cubist Systematic Strategies Ltd Company holds 0.02% or 6,796 shares in its portfolio. Blackrock Institutional Trust Na reported 844,230 shares or 0.01% of all its holdings. Keybank National Association Oh has 0.01% invested in the company for 37,796 shares. Moreover, Teacher Retirement Systems Of Texas has 0% invested in Plexus Corp. (NASDAQ:PLXS) for 4,678 shares. Smith Asset Grp Ltd Partnership last reported 0.09% of its portfolio in the stock. Blackrock Inv Mgmt Ltd Liability owns 160,325 shares or 0.01% of their US portfolio. Us Natl Bank De has 29,583 shares for 0% of their US portfolio. Price T Rowe Assocs Incorporated Md has 0% invested in the company for 14,250 shares. Chicago Equity Prtnrs Ltd, a Illinois-based fund reported 42,350 shares. Blackrock Fund Advsrs has invested 0.02% of its portfolio in Plexus Corp. (NASDAQ:PLXS). Moreover, Ls Advsrs Limited Liability Company has 0% invested in Plexus Corp. (NASDAQ:PLXS) for 1,182 shares. D E Shaw & Company last reported 41,376 shares in the company. Leuthold Grp holds 0.29% of its portfolio in Plexus Corp. (NASDAQ:PLXS) for 64,192 shares. Ubs Asset Management Americas Incorporated accumulated 0% or 26,154 shares. The Connecticut-based Tudor Investment Corporation Et Al has invested 0.02% in Plexus Corp. (NASDAQ:PLXS).
Insider Transactions: Since June 2, 2016, the stock had 0 buys, and 25 selling transactions for $15.83 million net activity. Ninivaggi Angelo Michael Jr also sold $50,283 worth of Plexus Corp. (NASDAQ:PLXS) on Friday, November 11. Kelsey Todd P. sold $136,799 worth of stock. 41,000 shares were sold by FOATE DEAN A, worth $2.10M. 3,750 Plexus Corp. (NASDAQ:PLXS) shares with value of $165,279 were sold by MARTENS PHILIP R. On Wednesday, August 24 the insider Lim Yong Jin sold $930,756. Frisch Steven J. also sold $188,475 worth of Plexus Corp. (NASDAQ:PLXS) on Monday, August 8. Another trade for 1,097 shares valued at $51,059 was made by Darroch Ronnie on Monday, August 15.
More recent Plexus Corp. (NASDAQ:PLXS) news were published by: Quotes.Wsj.com which released: “News Plexus Corp.PLXS” on February 13, 2011. Also Streetinsider.com published the news titled: “Form 4 PLEXUS CORP For: Nov 22 Filed by: FOATE DEAN A” on November 25, 2016. Streetinsider.com‘s news article titled: “Plexus Corp’s (PLXS) Todd Kelsey to Succeed Dean Foate as CEO” with publication date: April 20, 2016 was also an interesting one.
PLXS Company Profile
Plexus Corp. (Plexus), incorporated on August 29, 1979, and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. Plexus delivers end-to-end solutions for clients in the Americas (AMER); Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC) regions. The Company’s divisions are AMER, APAC and EMEA. The Firm is involved in providing electronics design, manufacturing and aftermarket services to companies with mid-to-low volume, higher complexity products. The Firm delivers solutions to its clients through its product realization value stream. The Company’s solutions include conceptualize, design, commercialize, manufacture, fulfill and sustain. The Firm provides customer service to approximately 140 branded product companies in the networking/communications, healthcare/life sciences, industrial/commercial and defense/security/aerospace market sectors.
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