B. Riley Downgrades Plexus Corp. to Neutral

Brokerage firm B. Riley Downgrades its rating on Plexus Corp.(NASDAQ:PLXS). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by B. Riley was issued on Jul 22, 2016.

In a different note, On Jun 9, 2016, Citigroup said it Maintains its rating on Plexus Corp.. In the research note, the firm Raises the price-target to $45.00 per share. The shares have been rated ‘Neutral’ by the firm.

Plexus Corp. (PLXS) shares turned negative on Thursdays trading session with the shares closing down -0.29 points or -0.63% at a volume of 1,02,298. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $45.93. The peak price level was also seen at $45.93 while the days lowest was $45.511. Finally the shares closed at $45.64. The 52-week high of the shares is $46.88 while the 52-week low is $28.72. According to the latest information available, the market cap of the company is $1,522 M.

Plexus Corp.(PLXS) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $667.62M. Analysts had an estimated revenue of $655.37M. Earnings per share were $0.82. Analysts had estimated an EPS of $0.77.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, Todd P. Kelsey (Exec VP & Chief Operating Off) sold 11,000 shares at $44.32 per share price.Also, 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.

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