Plexus (NASDAQ:PLXS) Rating Lowered to Neutral at Sidoti

Key Points

• Plexus Corp. was downgraded by Sidoti from a "buy" rating to a "neutral" rating, now setting a price objective of $150.00, suggesting a modest potential upside of 0.09% from its previous close.
• The company reported an earnings per share (EPS) of $2.14, exceeding analysts' expectations of $1.84, alongside a revenue of $1.06 billion for the last quarter.
• Institutional investors hold 94.45% of Plexus's stock, with significant recent increases in stakes from several hedge funds, indicating strong institutional interest.

Plexus (NASDAQ:PLXS - Get Free Report) was downgraded by equities research analysts at Sidoti from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Friday,Finviz reports. They presently have a $150.00 price objective on the technology company's stock. Sidoti's price objective points to a potential upside of 0.09% from the stock's previous close.

PLXS has been the topic of a number of other reports. Wall Street Zen lowered shares of Plexus from a "strong-buy" rating to a "buy" rating in a report on Sunday, October 19th. Williams Trading set a $165.00 price target on shares of Plexus in a report on Monday, September 22nd. Stifel Nicolaus set a $140.00 price objective on Plexus in a report on Thursday, July 24th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Plexus in a report on Wednesday, October 8th. Finally, Needham & Company LLC upped their target price on Plexus from $158.00 to $165.00 and gave the company a "buy" rating in a report on Thursday. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $157.00.

Plexus Trading Up 2.6%

Shares of PLXS stock opened at $149.86 on Friday. Plexus has a twelve month low of $103.43 and a twelve month high of $172.89. The stock's fifty day simple moving average is $140.79 and its 200 day simple moving average is $133.62. 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 firm has a market capitalization of $4.04 billion, a P/E ratio of 23.94 and a beta of 0.80.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.30. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Plexus had a return on equity of 12.99% and a net margin of 4.29%.The business's revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm posted $1.85 earnings per share. Plexus has set its Q1 2026 guidance at 1.660-1.810 EPS. As a group, sell-side analysts predict that Plexus will post 5.9 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Patrick John Jermain sold 2,500 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $137.71, for a total transaction of $344,275.00. Following the transaction, the chief financial officer owned 20,959 shares in the company, valued at $2,886,263.89. The trade was a 10.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 1,576 shares of the firm'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 of the company's stock, valued at $3,374,921.10. The trade was a 6.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,856 shares of company stock valued at $2,142,440 in the last 90 days. Company insiders own 1.76% of the company's stock.

Hedge Funds Weigh In On Plexus

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. increased its stake in Plexus by 120.4% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 348,510 shares of the technology company's stock valued at $44,655,000 after purchasing an additional 190,360 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Plexus in the first quarter worth approximately $22,975,000. American Century Companies Inc. lifted its holdings in shares of Plexus by 24.7% in the first quarter. American Century Companies Inc. now owns 678,222 shares of the technology company's stock valued at $86,901,000 after purchasing an additional 134,205 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Plexus by 85.1% in the first quarter. Millennium Management LLC now owns 228,116 shares of the technology company's stock valued at $29,229,000 after purchasing an additional 104,904 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Plexus by 66.1% during the first quarter. Invesco Ltd. now owns 211,741 shares of the technology company's stock valued at $27,130,000 after buying an additional 84,249 shares during the last quarter. 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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