Citigroup Maintains Plexus Corp. to Neutral with Price Target $50.00

Brokerage firm Citigroup Maintains its rating on Plexus Corp.(NASDAQ:PLXS). In a research note issued to the investors, the brokerage major Raises the price-target to $50.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Jun 9, 2016.

Plexus Corp. (PLXS) shares turned negative on Wednesdays trading session with the shares closing down -0.31 points or -0.70% at a volume of 91,040. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $44.75. The peak price level was also seen at $44.75 while the days lowest was $44.1. Finally the shares closed at $44.15. The 52-week high of the shares is $46.44 while the 52-week low is $28.72. According to the latest information available, the market cap of the company is $1,472 M.

Plexus Corp.(PLXS) last announced its earnings results on Apr 20, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $618.66M. Analysts had an estimated revenue of $615.74M. Earnings per share were $0.55. Analysts had estimated an EPS of $0.52.

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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