Plexus (NASDAQ:PLXS) Downgraded by Zacks Research to Hold

Key Points

• Zacks Research downgraded Plexus (NASDAQ:PLXS) from a "strong‑buy" to a "hold" in a note issued Monday.
• Analysts are split (three Buy, three Hold) with a MarketBeat consensus of Moderate Buy and an average price target of $194.20, while shares opened around $227.95, near a 52‑week high of $232.17.
• Plexus slightly beat quarterly EPS estimates ($1.78 vs. $1.77), reported revenue up 9.6% year‑over‑year, and set Q2 2026 guidance of 1.80–1.95 EPS.

Plexus (NASDAQ:PLXS - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on PLXS. Wall Street Zen cut Plexus from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Needham & Company LLC upped their price target on shares of Plexus from $165.00 to $206.00 and gave the company a "buy" rating in a report on Friday, January 30th. Williams Trading set a $195.00 price target on shares of Plexus in a report on Wednesday, January 28th. Weiss Ratings raised shares of Plexus from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, March 6th. Finally, Benchmark reissued a "buy" rating and issued a $220.00 price target on shares of Plexus in a report on Monday, March 16th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $194.20.

Plexus Stock Performance

Shares of PLXS opened at $227.95 on Monday. The firm has a 50-day moving average price of $202.21 and a 200 day moving average price of $170.82. The firm has a market capitalization of $6.11 billion, a PE ratio of 35.45 and a beta of 0.75. The company has a quick ratio of 0.75, a current ratio of 1.59 and a debt-to-equity ratio of 0.06. Plexus has a 52-week low of $115.35 and a 52-week high of $232.17.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its earnings results on Wednesday, January 28th. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.01. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Plexus had a net margin of 4.28% and a return on equity of 12.39%. Plexus's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 EPS. Plexus has set its Q2 2026 guidance at 1.800-1.950 EPS. On average, sell-side analysts anticipate that Plexus will post 5.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Oliver K. Mihm sold 9,541 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $201.40, for a total value of $1,921,557.40. Following the completion of the sale, the chief operating officer directly owned 12,809 shares of the company's stock, valued at $2,579,732.60. This represents a 42.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frank Zycinski sold 1,399 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $205.99, for a total transaction of $288,180.01. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 49,495 shares of company stock valued at $10,009,836. 1.78% of the stock is currently owned by company insiders.

Institutional Trading of Plexus

A number of hedge funds have recently made changes to their positions in PLXS. Salomon & Ludwin LLC purchased a new stake in shares of Plexus in the third quarter worth approximately $30,000. Covestor Ltd raised its holdings in shares of Plexus by 207.7% during the fourth 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. Allworth Financial LP raised its holdings in shares of Plexus by 70.1% during the third quarter. Allworth Financial LP now owns 250 shares of the technology company's stock worth $36,000 after acquiring an additional 103 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Plexus during the third quarter worth $72,000. Finally, Farther Finance Advisors LLC raised its holdings in shares of Plexus by 114.7% during the fourth quarter. Farther Finance Advisors LLC now owns 511 shares of the technology company's stock worth $75,000 after acquiring an additional 273 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

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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