Plexus (NASDAQ:PLXS) Downgraded by Wall Street Zen to "Buy"

Key Points

• Plexus (NASDAQ:PLXS) has been downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a recent research report.
• Despite the downgrade, analysts from Sidoti and Benchmark raised their price targets for Plexus to $150.00 and $165.00, respectively.
• The company's stock opened at $148.52 and reported a quarterly EPS of $1.90, surpassing estimates, with a twelve-month high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Sunday.

Several other analysts also recently weighed in on the company. Sidoti upgraded Plexus from a "neutral" rating to a "buy" rating and upped their price target for the stock from $135.00 to $150.00 in a research note on Friday, July 25th. Benchmark upped their price target on Plexus from $160.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Williams Trading set a $165.00 price target on Plexus in a research note on Monday, September 22nd. Stifel Nicolaus set a $140.00 target price on Plexus in a report on Thursday, July 24th. Finally, Needham & Company LLC decreased their price target on Plexus from $162.00 to $158.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $155.60.

Plexus Stock Performance

Plexus stock opened at $148.52 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.58 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $4.01 billion, a P/E ratio of 25.30 and a beta of 0.80. The stock's 50 day moving average is $139.44 and its 200 day moving average is $132.77. Plexus has a twelve month low of $103.43 and a twelve month high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.19. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Plexus had a return on equity of 12.33% and a net margin of 4.04%.The firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.45 EPS. Plexus has set its Q4 2025 guidance at 1.820-1.970 EPS. On average, equities research analysts predict that Plexus will post 5.9 earnings per share for the current fiscal year.

Insider Transactions at Plexus

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 1,576 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $137.78, for a total transaction of $217,141.28. Following the completion of the sale, the chief accounting officer owned 24,495 shares in the company, valued at approximately $3,374,921.10. This represents a 6.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victor (Pang Hau) Tan sold 3,000 shares of the company's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $139.00, for a total value of $417,000.00. Following the sale, the insider owned 8,723 shares of the company's stock, valued at approximately $1,212,497. This trade represents a 25.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,856 shares of company stock valued at $2,142,440. Insiders own 1.76% of the company's stock.

Institutional Trading of Plexus

A number of hedge funds have recently bought and sold shares of the company. CWM LLC increased its position in Plexus by 705.6% during the third quarter. CWM LLC now owns 4,326 shares of the technology company's stock valued at $626,000 after acquiring an additional 3,789 shares during the last quarter. Inspire Investing LLC increased its position in Plexus by 8.6% during the third quarter. Inspire Investing LLC now owns 3,128 shares of the technology company's stock valued at $453,000 after acquiring an additional 247 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Plexus by 36.6% during the third quarter. Wedge Capital Management L L P NC now owns 27,600 shares of the technology company's stock valued at $3,993,000 after acquiring an additional 7,393 shares during the last quarter. Congress Asset Management Co. increased its position in Plexus by 0.5% during the third quarter. Congress Asset Management Co. now owns 16,245 shares of the technology company's stock valued at $2,350,000 after acquiring an additional 88 shares during the last quarter. Finally, Sendero Wealth Management LLC increased its position in Plexus by 49.1% during the third quarter. Sendero Wealth Management LLC now owns 8,166 shares of the technology company's stock valued at $1,182,000 after acquiring an additional 2,688 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

About Plexus

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.

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