Plexus (NASDAQ:PLXS) Sets New 12-Month High on Analyst Upgrade

Key Points

• 52-week high: Plexus shares jumped to about $271 after Needham & Company raised its price target from $206 to $285 and reiterated a Buy, driving the stock to a new 12-month high.
• Strong quarter and guidance: Fiscal Q2 revenue was $1.16B (+18.7% Y/Y) with EPS $2.05 (beat), and management set Q3 guidance of $2.02–$2.18 EPS and $1.2–$1.3B revenue, both above consensus.
• Insider selling and analyst view: Insiders sold roughly 50,995 shares (~$10.35M) in the last quarter (insider ownership ~1.78%), while analysts maintain a “Moderate Buy” consensus with an average target of $229.17.

Plexus Corp. (NASDAQ:PLXS - Get Free Report)'s share price hit a new 52-week high on Friday after Needham & Company LLC raised their price target on the stock from $206.00 to $285.00. Needham & Company LLC currently has a buy rating on the stock. Plexus traded as high as $271.85 and last traded at $271.3350, with a volume of 48999 shares changing hands. The stock had previously closed at $250.58.

A number of other research analysts have also weighed in on the company. Weiss Ratings lowered Plexus from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, April 24th. Raymond James Financial restated an "outperform" rating and set a $275.00 price objective on shares of Plexus in a research report on Thursday. Zacks Research lowered Plexus from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Williams Trading set a $195.00 price objective on Plexus in a research report on Wednesday, January 28th. Finally, Benchmark reiterated a "buy" rating and issued a $220.00 price target on shares of Plexus in a research report on Monday, March 16th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Plexus has an average rating of "Moderate Buy" and an average target price of $229.17.

Insider Buying and Selling

In related news, COO Oliver K. Mihm sold 9,541 shares of Plexus stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $201.40, for a total value of $1,921,557.40. Following the completion of the transaction, the chief operating officer owned 12,809 shares in the company, valued at approximately $2,579,732.60. This trade represents a 42.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Patrick John Jermain sold 4,841 shares of Plexus stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $204.01, for a total value of $987,612.41. Following the completion of the transaction, the chief financial officer owned 20,469 shares of the company's stock, valued at approximately $4,175,880.69. This represents a 19.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 50,995 shares of company stock valued at $10,345,971 in the last quarter. 1.78% of the stock is currently owned by insiders.

Key Plexus News

Here are the key news stories impacting Plexus this week:

• Positive Sentiment: Needham raised its price target sharply to $285 and reiterated a Buy rating, signaling stronger analyst conviction and upside to the stock. Benzinga The Fly
• Positive Sentiment: Plexus reported a strong fiscal Q2: revenue roughly $1.16B (≈+18.7% Y/Y) and management issued Q3 EPS guidance of $2.02–$2.18 and revenue guidance of $1.2–$1.3B — both above consensus — which supports expectations for continued growth. Press Release / Slide Deck
• Positive Sentiment: Coverage and commentary after the quarter — including headlines about index-fund interest — have increased visibility for PLXS, which can help demand from institutional and passive flows. Kalkine Media
• Neutral Sentiment: Street consensus remains constructive: recent aggregator shows an average rating of “Moderate Buy,” reflecting broad analyst support but not unanimous bullishness. AmericanBankingNews
• Neutral Sentiment: Management released the earnings presentation and call transcript (useful for details on program wins, margin drivers and backlog); investors should review the slides and transcript for customer/program-level color. Seeking Alpha — Presentation Earnings Transcript (Yahoo)
• Neutral Sentiment: Plexus announced a planned CFO retirement and succession process; succession appears orderly but investors will watch the replacement for continuity in capital allocation and guidance execution. GlobeNewswire
• Negative Sentiment: Some third‑party summaries flagged an EPS nuance vs certain estimates (different EPS metrics cited in reports) and noted a near-term share pullback after the print; mixed EPS headlines can create volatility despite revenue/guidance beats. QuiverQuant
• Negative Sentiment: QuiverQuant and other trackers highlight sizable recent insider selling activity; heavy insider sales may worry some investors about near-term confidence, even though sales can be for diversification or other personal reasons. QuiverQuant — Insider Activity

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. American Century Companies Inc. boosted its position in shares of Plexus by 44.2% during the third quarter. American Century Companies Inc. now owns 1,103,892 shares of the technology company's stock valued at $159,722,000 after buying an additional 338,119 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Plexus by 23.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 240,192 shares of the technology company's stock valued at $34,753,000 after buying an additional 45,425 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Plexus by 28.3% in the third quarter. JPMorgan Chase & Co. now owns 240,460 shares of the technology company's stock valued at $34,792,000 after purchasing an additional 52,967 shares during the period. Nicola Wealth Management LTD. purchased a new stake in shares of Plexus in the third quarter valued at approximately $6,655,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Plexus by 0.6% in the third quarter. Vanguard Group Inc. now owns 3,683,845 shares of the technology company's stock valued at $533,016,000 after purchasing an additional 22,374 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Plexus Stock Up 8.0%

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.59 and a quick ratio of 0.75. The stock has a market cap of $7.25 billion, a PE ratio of 39.63 and a beta of 0.75. The business has a fifty day moving average of $211.79 and a 200-day moving average of $178.49.

Plexus (NASDAQ:PLXS - Get Free Report) last announced 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 firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Plexus had a return on equity of 12.92% and a net margin of 4.35%.Plexus's quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.66 earnings per share. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. Equities research analysts anticipate that Plexus Corp. will post 6.56 earnings per share for the current year.

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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