Needham & Company LLC Issues Positive Forecast for Plexus (NASDAQ:PLXS) Stock Price

Key Points

• Needham & Company LLC raised its price target on Plexus from $285 to $310 and reiterated a buy rating, implying about 15.5% upside from the current share price.
• Plexus reported better-than-expected Q2 results, posting EPS of $2.05 versus the $1.87 consensus and revenue of $1.16 billion versus $1.13 billion estimated, with revenue up 18.7% year over year.
• Despite the bullish analyst outlook, insiders have been selling shares recently, while institutional ownership remains high at 94.45% of the company’s stock.

Plexus (NASDAQ:PLXS - Get Free Report) had its target price hoisted by analysts at Needham & Company LLC from $285.00 to $310.00 in a report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Needham & Company LLC's target price points to a potential upside of 15.52% from the stock's current price.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings upgraded shares of Plexus from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 11th. Stifel Nicolaus set a $280.00 price target on shares of Plexus in a research report on Tuesday, May 26th. Benchmark reiterated a "buy" rating and issued a $220.00 price target on shares of Plexus in a research report on Monday, March 16th. Raymond James Financial reiterated an "outperform" rating and issued a $275.00 price target on shares of Plexus in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of Plexus from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Plexus has an average rating of "Moderate Buy" and a consensus target price of $238.33.

Plexus Stock Performance

PLXS opened at $268.36 on Monday. The firm has a market cap of $7.18 billion, a P/E ratio of 39.23 and a beta of 0.89. Plexus has a 1-year low of $115.35 and a 1-year high of $275.83. The company has a 50 day simple moving average of $237.81 and a two-hundred day simple moving average of $194.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.54 and a quick ratio of 0.74.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.87 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Plexus had a net margin of 4.35% and a return on equity of 12.84%. The company's revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 earnings per share. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. Equities analysts forecast that Plexus will post 5.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Plexus

In other Plexus news, insider Victor (Pang Hau) Tan sold 3,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $271.23, for a total transaction of $813,690.00. Following the completion of the transaction, the insider owned 10,457 shares in the company, valued at $2,836,252.11. This trade represents a 22.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Angelo Michael Ninivaggi, Jr. sold 3,270 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $264.75, for a total transaction of $865,732.50. Following the transaction, the executive vice president owned 16,266 shares of the company's stock, valued at $4,306,423.50. This trade represents a 16.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 20,471 shares of company stock worth $5,275,401 over the last 90 days. 1.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Plexus

Several institutional investors have recently bought and sold shares of the business. Glenmede Trust Co. NA lifted its position in Plexus by 14.3% during the first quarter. Glenmede Trust Co. NA now owns 2,329 shares of the technology company's stock valued at $472,000 after purchasing an additional 292 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Plexus by 0.3% in the first quarter. Bank of America Corp DE now owns 175,832 shares of the technology company's stock valued at $35,613,000 after acquiring an additional 573 shares during the period. Intrinsic Edge Capital Management LLC purchased a new stake in shares of Plexus in the first quarter valued at $4,253,000. Smith Group Asset Management LLC raised its stake in shares of Plexus by 9.3% in the first quarter. Smith Group Asset Management LLC now owns 4,830 shares of the technology company's stock valued at $978,000 after acquiring an additional 409 shares during the period. Finally, Amundi raised its stake in shares of Plexus by 143.0% in the first quarter. Amundi now owns 31,294 shares of the technology company's stock valued at $6,338,000 after acquiring an additional 18,418 shares during the period. Institutional investors own 94.45% of the company's stock.

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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