Plexus (NASDAQ:PLXS) Given New $285.00 Price Target at Needham & Company LLC

Key Points

• Needham raised its price target for Plexus (PLXS) from $206 to $285 and kept a “buy” rating, implying roughly a 13.7% upside, while analyst consensus remains a "Moderate Buy" with an average target near $229.17.
• Plexus reported record Q2 results with revenue of ~$1.164B (+18.7% YoY) and $2.05 EPS (beat), and raised Q3 2026 guidance to $2.02–$2.18 EPS and $1.2B–$1.3B revenue, signaling continued demand and margin expansion.
• Offsetting positives, operating cash flow declined about 22% YoY and insiders have sold material shares recently, and the CFO has announced a planned retirement — factors that could pressure sentiment despite the strong quarter.

Plexus (NASDAQ:PLXS - Get Free Report) had its price target increased by Needham & Company LLC from $206.00 to $285.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Needham & Company LLC's price objective suggests a potential upside of 13.74% from the stock's current price.

A number of other research firms also recently issued reports on PLXS. Stifel Nicolaus set a $250.00 price target on shares of Plexus and gave the company a "buy" rating in a research note on Monday, April 20th. Wall Street Zen cut shares of Plexus from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Raymond James Financial restated an "outperform" rating and issued a $275.00 price objective on shares of Plexus in a report on Thursday. Williams Trading set a $195.00 price objective on shares of Plexus in a report on Wednesday, January 28th. Finally, Weiss Ratings cut shares of Plexus from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $229.17.

Plexus Price Performance

Plexus stock opened at $250.58 on Friday. The company's 50 day simple moving average is $211.79 and its 200-day simple moving average is $178.49. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 36.63 and a beta of 0.75. Plexus has a 1 year low of $115.35 and a 1 year high of $259.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 1.59.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The technology company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.87 by $0.18. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Plexus had a net margin of 4.35% and a return on equity of 12.92%. The business's revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.66 EPS. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. As a group, equities research analysts expect that Plexus will post 6.56 earnings per share for the current year.

Insider Transactions at Plexus

In related news, CEO Todd P. Kelsey sold 8,120 shares of Plexus stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $205.65, for a total value of $1,669,878.00. Following the completion of the transaction, the chief executive officer owned 78,598 shares in the company, valued at approximately $16,163,678.70. The trade was a 9.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Patrick John Jermain sold 4,841 shares of the business's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $204.01, for a total transaction of $987,612.41. Following the transaction, the chief financial officer owned 20,469 shares of the company's stock, valued at $4,175,880.69. This trade represents a 19.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 50,995 shares of company stock valued at $10,345,971. 1.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC boosted its holdings in shares of Plexus by 1.6% in the 4th quarter. Inspire Investing LLC now owns 3,178 shares of the technology company's stock valued at $467,000 after buying an additional 50 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Plexus by 20.8% in the 4th quarter. Allworth Financial LP now owns 302 shares of the technology company's stock valued at $44,000 after buying an additional 52 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Plexus by 1.5% in the 4th quarter. Maryland State Retirement & Pension System now owns 3,940 shares of the technology company's stock valued at $579,000 after buying an additional 60 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Plexus by 1.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,175 shares of the technology company's stock valued at $908,000 after buying an additional 71 shares in the last quarter. Finally, Uncommon Cents Investing LLC boosted its holdings in shares of Plexus by 0.8% in the 4th quarter. Uncommon Cents Investing LLC now owns 9,925 shares of the technology company's stock valued at $1,459,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Key Headlines Impacting Plexus

Here are the key news stories impacting Plexus this week:

• Positive Sentiment: Raised guidance: Plexus updated FYQ3 EPS guidance to $2.02–$2.18 (consensus ~$1.93) and revenue guidance to $1.2B–$1.3B (vs. ~$1.1B consensus), a clear indicator management expects continued demand and margin expansion. Guidance & Slide Deck
• Positive Sentiment: Revenue beat / strong growth: Plexus reported record Q2 revenue (~$1.164B), up ~18.7% year‑over‑year and modestly above Street revenue expectations — evidence of strong program wins and end‑market demand. Earnings Release
• Positive Sentiment: Analyst sentiment supportive: Recent analyst coverage averages a “Moderate Buy” and several firms maintain buy ratings and targets above current levels, which can support near‑term buying interest. Analyst Rating Article
• Positive Sentiment: ETF/index fund chatter: Coverage highlights that Plexus’ strong quarter has prompted talk about index/ETF reweighting on Nasdaq funds — potential incremental demand if funds increase allocations. Index Fund Buzz
• Neutral Sentiment: CFO transition announced: CFO Patrick Jermain — a 12‑year CFO — will retire; management says succession is planned. Leadership change is notable but presented as orderly. CFO Transition Release
• Neutral Sentiment: Earnings materials and call available: Full earnings deck and multiple call transcripts/slides released — useful for digging into segment trends, backlog and customer commentary. Earnings Presentation
• Negative Sentiment: Mixed EPS reporting / earnings surprise nuance: Some outlets report a GAAP/non‑GAAP EPS beat (reports showing $2.05) while other disclosures show diluted EPS of $1.82 vs. some Street estimates ~ $1.90–$1.92 — the mismatch created intraday volatility as investors parsed which metric to use. Quiver Quant Earnings Summary
• Negative Sentiment: Cash flow and balance-sheet flags: Operating cash flow declined (~22% YoY) and cash modestly fell while total liabilities rose — investors will watch free cash flow and working capital conversion in coming quarters. Financial Details
• Negative Sentiment: Insider selling noted: Filings show multiple insider sales over the past months; heavy insider selling can weigh on sentiment even if sales are for routine/estate reasons. Insider Activity

Plexus Company Profile

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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