J.P. Morgan analyst Paul J Chung maintained a Sell rating on Plexus (PLXS – Research Report) today and set a price target of $86.00. The company’s shares closed yesterday at $93.86.
J Chung covers the Technology sector, focusing on stocks such as 3D Systems, Avid Technology, and Cognex. According to TipRanks, J Chung has an average return of 2.2% and a 50.52% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Plexus with a $109.80 average price target.
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Based on Plexus’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.12 billion and a net profit of $50.46 million. In comparison, last year the company earned a revenue of $843.24 million and had a net profit of $33.34 million
Based on the recent corporate insider activity of 59 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.
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