Plexus (NASDAQ:PLXS) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Plexus to “buy” from “hold,” contributing to a broader consensus “Buy” rating. Analysts’ average price target is $276.86.
• Plexus reported quarterly EPS of $2.32, beating estimates of $2.13, while revenue reached $1.30 billion and rose 28.2% year over year.
• Shares opened at $273.13, with a 52-week range of $132.03 to $307.06. Insiders sold 7,500 shares worth about $1.96 million during the quarter, while institutional investors own 94.45% of the stock.

Plexus (NASDAQ:PLXS - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Sunday, Wall Street Zen reports.

PLXS has been the topic of several other research reports. KeyCorp upgraded shares of Plexus from a "sector weight" rating to an "overweight" rating and set a $300.00 price objective on the stock in a research note on Monday, September 21st. Stifel Nicolaus increased their price objective on Plexus from $280.00 to $330.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $310.00 price objective on shares of Plexus in a research note on Friday, August 14th. Zacks Research upgraded shares of Plexus from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Finally, Weiss Ratings downgraded shares of Plexus from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $276.86.

Plexus Trading Up 1.1%

Plexus stock opened at $273.13 on Friday. Plexus has a 52 week low of $132.03 and a 52 week high of $307.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.49. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 40.28 and a beta of 0.88. The company has a 50 day moving average price of $253.95 and a 200 day moving average price of $253.57.

Plexus (NASDAQ:PLXS - Get Free Report) last released its earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.19. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.23 billion. Plexus had a return on equity of 12.46% and a net margin of 4.03%.The company's revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 earnings per share. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. Research analysts forecast that Plexus will post 7.13 EPS for the current year.

Insider Activity at Plexus

In other news, Director Michael V. Schrock sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $275.00, for a total value of $1,100,000.00. Following the completion of the transaction, the director directly owned 40,329 shares of the company's stock, valued at approximately $11,090,475. This represents a 9.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kelsey sold 1,500 shares of Plexus stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $242.41, for a total transaction of $363,615.00. Following the completion of the transaction, the chief executive officer owned 64,388 shares of the company's stock, valued at $15,608,295.08. This trade represents a 2.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,500 shares of company stock valued at $1,960,520 over the last quarter. 1.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. QRG Capital Management Inc. grew its stake in shares of Plexus by 8.8% during the 2nd quarter. QRG Capital Management Inc. now owns 3,552 shares of the technology company's stock worth $1,068,000 after acquiring an additional 287 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Plexus in the second quarter worth $725,000. Sequoia Financial Advisors LLC boosted its holdings in Plexus by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 1,653 shares of the technology company's stock worth $497,000 after purchasing an additional 167 shares during the last quarter. Tidal Investments LLC boosted its holdings in Plexus by 21.6% during the second quarter. Tidal Investments LLC now owns 1,757 shares of the technology company's stock worth $528,000 after purchasing an additional 312 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Plexus in the second quarter valued at $51,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Plexus Company Profile

Plexus Corp. NASDAQ: PLXS is an electronics manufacturing services and product development company headquartered in Neenah, Wisconsin. The company helps customers design, engineer, manufacture and service complex electronic products, offering capabilities that span product development, printed circuit board assembly, systems integration, testing, supply-chain management and aftermarket support.

Plexus serves customers in markets including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.

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