Plexus (NASDAQ:PLXS) Receives Buy Rating from Needham & Company LLC

Key Points

• Needham reaffirmed a “Buy” rating on Plexus and set a $310 price target, implying 16.7% upside from the prior close. The broader analyst consensus is also “Buy,” with a $273 average target.
• Plexus exceeded quarterly expectations, reporting $2.32 in EPS versus the $2.13 consensus and $1.30 billion in revenue versus $1.23 billion expected. Revenue increased 28.2% year over year.
• Shares rose 0.6% to $265.63, while insiders have sold 9,510 shares worth $2.63 million over the past 90 days; institutional investors still own a substantial 94.45% of the stock.

Plexus (NASDAQ:PLXS - Get Free Report)'s stock had its "buy" rating reissued by analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They currently have a $310.00 price target on the technology company's stock. Needham & Company LLC's target price indicates a potential upside of 16.70% from the company's previous close.

Several other brokerages have also commented on PLXS. Wall Street Zen raised Plexus from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Raymond James Financial reaffirmed an "outperform" rating and issued a $275.00 target price on shares of Plexus in a research report on Thursday, April 30th. Stifel Nicolaus increased their price target on shares of Plexus from $280.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. Sidoti raised shares of Plexus from a "neutral" rating to a "buy" rating and set a $308.00 price target for the company in a research report on Friday, July 31st. Finally, Weiss Ratings lowered shares of Plexus from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $273.00.

Plexus Stock Up 0.6%

Plexus stock traded up $1.59 during trading hours on Friday, hitting $265.63. 97,696 shares of the stock traded hands, compared to its average volume of 333,397. The firm's 50-day moving average price is $272.53 and its two-hundred day moving average price is $240.12. The company has a current ratio of 1.49, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. The company has a market cap of $7.11 billion, a PE ratio of 39.30 and a beta of 0.90. Plexus has a one year low of $126.86 and a one year high of $307.06.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.19. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.23 billion. Plexus had a return on equity of 12.46% and a net margin of 4.03%.The business's revenue was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 EPS. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. On average, research analysts forecast that Plexus will post 6.73 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michael V. Schrock sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $275.00, for a total value of $1,100,000.00. Following the completion of the transaction, the director directly owned 40,329 shares in the company, valued at $11,090,475. The trade was a 9.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd P. Kelsey sold 1,500 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $252.77, for a total value of $379,155.00. Following the completion of the transaction, the chief executive officer directly owned 72,388 shares in the company, valued at $18,297,514.76. This trade represents a 2.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 9,510 shares of company stock valued at $2,625,182. Insiders own 1.78% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Plexus during the 2nd quarter valued at about $32,000. Covestor Ltd boosted its holdings in Plexus by 207.7% in the fourth quarter. Covestor Ltd now owns 240 shares of the technology company's stock worth $35,000 after purchasing an additional 162 shares during the last quarter. Kilter Group LLC bought a new stake in Plexus in the 2nd quarter worth approximately $40,000. Allworth Financial LP lifted its holdings in shares of Plexus by 20.8% during 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 during the period. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Plexus in the 2nd quarter worth $71,000. 94.45% of the stock is owned by institutional investors.

More Plexus News

Here are the key news stories impacting Plexus this week:

• Positive Sentiment: Major upward revisions to earnings forecasts: Zacks Research raised its Plexus estimates across multiple periods, including FY2026 EPS to $7.02 from $5.87, FY2027 EPS to $8.50 from $6.55, and FY2028 EPS to $9.42 from $8.31. Quarterly estimates were also increased, including Q4 2026 EPS to $2.22 from $1.45 and Q3 2027 EPS to $2.16 from $1.49. The revisions signal stronger expected profitability and provide a positive catalyst for PLXS. Earnings Estimates Rising for Plexus
• Positive Sentiment: Ratings momentum remains favorable: Zacks upgraded Plexus from “Hold” to “Strong-Buy,” reinforcing the view that improving earnings expectations could support further upside. Shares have recently risen 7.56% over one week, indicating strong near-term momentum. Plexus Weekly Stock Performance
• Positive Sentiment: Institutional ownership activity is supportive: Several large investors recently initiated or increased positions, while institutional and hedge-fund ownership reached 94.45%. The company also recently exceeded quarterly EPS and revenue expectations, with revenue up 28.2% year over year.

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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