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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Plexus with a $83.00 average price target, which is a -3.4% downside from current levels. In a report issued on January 19, Sidoti also downgraded the stock to Hold with a $89.00 price target.
Based on Plexus’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $913 million and net profit of $37.71 million. In comparison, last year the company earned revenue of $810 million and had a net profit of $36.83 million.
Based on the recent corporate insider activity of 97 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PLXS in relation to earlier this year.
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Plexus Corp. engages in the provision of electronic manufacturing services. The firm partners with companies to transform concepts into branded products and deliver them to the market. It has partnerships with customers in the healthcare and life sciences; industrial and commercial; communications; and aerospace and defense market sectors. The company operates through the following geographical segments: Americas (AMER); Europe, Middle East, and Africa (EMEA); and Asia-Pacific (APAC). Plexus was founded by Peter Strandwitz, Shirani Ramin and John L. Nussbaum in 1979 and is headquartered in Neenah, WI.