Plexus Corp. (NASDAQ:PLXS) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Analysts maintain a bullish view of Plexus: All seven covering firms rate the stock Buy or Strong Buy, with an average 12-month price target of $273.
• Plexus exceeded quarterly expectations, reporting EPS of $2.32 versus $2.13 expected and revenue of $1.30 billion, up 28.2% year over year.
• Insiders sold 8,510 shares worth approximately $2.35 million over the past three months, while institutional investors own a substantial 94.45% of outstanding shares.

Plexus Corp. (NASDAQ:PLXS - Get Free Report) has been assigned a consensus recommendation of "Buy" from the seven research firms that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $273.00.

Several research analysts have issued reports on the company. Weiss Ratings lowered Plexus from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Stifel Nicolaus raised their price objective on Plexus from $280.00 to $330.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Sidoti upgraded Plexus from a "neutral" rating to a "buy" rating and set a $308.00 price objective for the company in a report on Friday, July 31st. Wall Street Zen raised Plexus from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Zacks Research upgraded Plexus from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th.

Insider Activity

In other news, insider Michael J. Running sold 510 shares of the business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $272.17, for a total transaction of $138,806.70. Following the completion of the sale, the insider directly owned 665 shares of the company's stock, valued at $180,993.05. The trade was a 43.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael V. Schrock sold 4,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $275.00, for a total transaction of $1,100,000.00. Following the completion of the sale, the director owned 40,329 shares in the company, valued at $11,090,475. This represents a 9.02% 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 sold 8,510 shares of company stock worth $2,347,747 over the last three months. 1.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Plexus

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Plexus during the 2nd quarter valued at $32,000. Covestor Ltd grew its stake in shares of Plexus by 207.7% in the 4th quarter. Covestor Ltd now owns 240 shares of the technology company's stock worth $35,000 after acquiring an additional 162 shares in the last quarter. Kilter Group LLC purchased a new stake in shares of Plexus in the second quarter valued at about $40,000. Allworth Financial LP raised its holdings in shares of Plexus by 20.8% in the fourth quarter. Allworth Financial LP now owns 302 shares of the technology company's stock valued at $44,000 after purchasing an additional 52 shares during the last quarter. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Plexus in the second quarter valued at about $71,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Trading Down 1.9%

NASDAQ:PLXS opened at $240.87 on Friday. Plexus has a 12 month low of $132.03 and a 12 month high of $307.06. The company has a current ratio of 1.49, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 35.53 and a beta of 0.90. The firm has a fifty day simple moving average of $263.63 and a two-hundred day simple moving average of $243.97.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.19. The company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.23 billion. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The business's revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.64 EPS. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. Analysts expect that Plexus will post 7.11 EPS for the current fiscal year.

About Plexus

Plexus Corp. NASDAQ: PLXS is a global provider of electronics manufacturing services (EMS) and precision engineered electronics solutions. Headquartered in Neenah, Wisconsin, the company partners with original equipment manufacturers across industries such as medical, industrial, aerospace and defense, computing, and communications. Plexus offers a full suite of services that span new product introduction, product lifecycle management, supply chain management, printed circuit board assembly, system integration, and aftermarket support.

Founded in 1979, Plexus has grown from a regional electronics assembler into a multinational organization with manufacturing and engineering centers across North America, Europe, and Asia.

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