Benchmark Forecasts Strong Price Appreciation for Plexus (NASDAQ:PLXS) Stock

Key Points

• Benchmark analysts have raised their price target for Plexus (NASDAQ:PLXS) from $160.00 to $165.00, indicating a potential upside of 17.02% from its previous close.
• The company's earnings report showed an EPS of $1.90, surpassing expectations and marking a 6% year-over-year revenue growth.
• Overall, analysts are optimistic about the stock, with three "buy" ratings against two "hold" ratings, and an average price target of $153.25 based on market data.

Plexus (NASDAQ:PLXS - Get Free Report) had its target price boosted by equities researchers at Benchmark from $160.00 to $165.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Benchmark's target price would indicate a potential upside of 14.89% from the stock's current price.

Several other analysts also recently issued reports on the company. Needham & Company LLC cut their price target on Plexus from $162.00 to $158.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Wall Street Zen downgraded Plexus from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Sidoti raised Plexus from a "neutral" rating to a "buy" rating and raised their price target for the stock from $135.00 to $150.00 in a report on Friday, July 25th. Finally, Stifel Nicolaus set a $140.00 price target on Plexus in a report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $153.25.

Plexus Stock Performance

Shares of PLXS traded up $2.62 during mid-day trading on Monday, hitting $143.62. The stock had a trading volume of 167,022 shares, compared to its average volume of 166,389. The company has a market cap of $3.88 billion, a PE ratio of 24.47 and a beta of 0.82. The company's fifty day simple moving average is $133.86 and its two-hundred day simple moving average is $130.45. The company has a quick ratio of 0.74, a current ratio of 1.58 and a debt-to-equity ratio of 0.06. Plexus has a fifty-two week low of $103.43 and a fifty-two week high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.71 by $0.19. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Plexus had a return on equity of 12.33% and a net margin of 4.04%.The business's revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.45 EPS. Plexus has set its Q4 2025 guidance at 1.820-1.970 EPS. On average, equities analysts expect that Plexus will post 5.9 earnings per share for the current year.

Insider Activity

In related news, COO Oliver K. Mihm sold 2,102 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $130.43, for a total transaction of $274,163.86. Following the completion of the transaction, the chief operating officer owned 21,155 shares of the company's stock, valued at approximately $2,759,246.65. The trade was a 9.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd P. Kelsey sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $134.54, for a total value of $201,810.00. Following the completion of the transaction, the chief executive officer directly owned 70,714 shares of the company's stock, valued at approximately $9,513,861.56. This trade represents a 2.08% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,356 shares of company stock worth $1,926,890. Corporate insiders own 1.76% of the company's stock.

Hedge Funds Weigh In On Plexus

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Plexus by 49.6% during the 1st quarter. GAMMA Investing LLC now owns 1,333 shares of the technology company's stock worth $171,000 after acquiring an additional 442 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Plexus during the 1st quarter worth $917,000. Ritholtz Wealth Management acquired a new stake in shares of Plexus in the 1st quarter valued at about $285,000. Deutsche Bank AG raised its stake in shares of Plexus by 22.8% in the 1st quarter. Deutsche Bank AG now owns 47,997 shares of the technology company's stock valued at $6,150,000 after purchasing an additional 8,921 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Plexus in the 1st quarter valued at about $121,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Plexus Company Profile

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.