Brokerages forecast that Plexus Corp. (NASDAQ:PLXS) will report earnings of $0.82 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Plexus Corp.’s earnings. Plexus Corp. posted earnings per share of $0.56 in the same quarter last year, which suggests a positive year over year growth rate of 46.4%. The business is expected to announce its next earnings results on Wednesday, October 25th.

According to Zacks, analysts expect that Plexus Corp. will report full year earnings of $3.22 per share for the current financial year. For the next year, analysts anticipate that the firm will post earnings of $3.42 per share, with EPS estimates ranging from $3.40 to $3.44. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Plexus Corp..

Plexus Corp. (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, July 19th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. Plexus Corp. had a net margin of 4.07% and a return on equity of 10.76%. The firm had revenue of $618.80 million for the quarter, compared to the consensus estimate of $608.95 million. During the same period in the prior year, the firm posted $0.82 earnings per share. The company’s revenue for the quarter was down 7.3% on a year-over-year basis.

A number of research analysts recently issued reports on the company. J P Morgan Chase & Co upgraded Plexus Corp. from a “neutral” rating to an “overweight” rating and set a $62.00 price objective for the company in a research note on Monday. BidaskClub downgraded Plexus Corp. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Zacks Investment Research downgraded Plexus Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Citigroup Inc. boosted their price objective on Plexus Corp. from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, July 21st. Finally, Deutsche Bank AG boosted their price objective on Plexus Corp. from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Plexus Corp. presently has a consensus rating of “Hold” and an average price target of $57.88.

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Shares of Plexus Corp. (PLXS) traded up 1.58% during midday trading on Thursday, hitting $52.12. 29,300 shares of the stock were exchanged. Plexus Corp. has a 52-week low of $44.35 and a 52-week high of $58.74. The stock has a market cap of $1.75 billion, a P/E ratio of 17.60 and a beta of 0.93. The firm’s 50 day moving average price is $52.28 and its 200-day moving average price is $53.83.

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 10,350 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $49.46, for a total transaction of $511,911.00. Following the sale, the chief accounting officer now directly owns 17,009 shares of the company’s stock, valued at approximately $841,265.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Angelo Michael Ninivaggi, Jr. sold 8,750 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $49.38, for a total value of $432,075.00. Following the sale, the chief accounting officer now directly owns 17,009 shares in the company, valued at $839,904.42. The disclosure for this sale can be found here. Insiders sold a total of 95,580 shares of company stock valued at $5,129,042 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of PLXS. Riverhead Capital Management LLC boosted its stake in shares of Plexus Corp. by 69.0% in the second quarter. Riverhead Capital Management LLC now owns 2,366 shares of the technology company’s stock valued at $124,000 after buying an additional 966 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Plexus Corp. during the first quarter valued at about $166,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Plexus Corp. during the first quarter valued at about $200,000. Neuberger Berman Group LLC boosted its stake in shares of Plexus Corp. by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 3,834 shares of the technology company’s stock valued at $202,000 after buying an additional 31 shares during the period. Finally, Appleton Group LLC purchased a new stake in shares of Plexus Corp. during the first quarter valued at about $211,000. 94.51% of the stock is currently owned by institutional investors and hedge funds.

About Plexus Corp.

Plexus Corp. (Plexus) and its subsidiaries are engaged in the electronic manufacturing services (EMS) industry. The Company delivers end-to-end solutions for customers in the Americas (AMER), Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions. The Company’s segments are AMER, APAC and EMEA.

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