Plexus (NASDAQ:PLXS) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Plexus from “hold” to “strong buy.” Other analysts also remain bullish, with the stock carrying an average “buy” rating and a consensus price target of $273.
• Plexus reported quarterly EPS of $2.32, beating estimates of $2.13, while revenue rose 28.2% year over year to $1.30 billion, exceeding consensus expectations.
• The stock opened at $271.95, giving Plexus a market capitalization of approximately $7.28 billion. Institutional investors own 94.45% of the company, while insiders have sold 5,510 shares worth about $1.53 million over the past 90 days.

Plexus (NASDAQ:PLXS - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Needham & Company LLC lifted their price objective on shares of Plexus from $285.00 to $310.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Stifel Nicolaus lifted their price target on shares of Plexus from $280.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Raymond James Financial restated an "outperform" rating and issued a $275.00 price objective on shares of Plexus in a research report on Thursday, April 30th. Weiss Ratings downgraded Plexus from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday. Finally, Wall Street Zen raised shares of Plexus from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to MarketBeat, Plexus presently has an average rating of "Buy" and an average price target of $273.00.

Plexus Stock Up 0.6%

NASDAQ:PLXS opened at $271.95 on Tuesday. Plexus has a 12-month low of $126.86 and a 12-month high of $307.06. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $7.28 billion, a P/E ratio of 40.11 and a beta of 0.90. The stock's fifty day simple moving average is $272.93 and its 200-day simple moving average is $239.49.

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

Insider Activity at Plexus

In other news, insider Michael J. Running sold 510 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $272.17, for a total value of $138,806.70. Following the completion of the sale, the insider directly owned 665 shares of the company's stock, valued at $180,993.05. This trade represents a 43.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $294.98, for a total value of $442,470.00. Following the transaction, the chief executive officer owned 68,888 shares of the company's stock, valued at $20,320,582.24. This represents a 2.13% 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. Insiders sold 5,510 shares of company stock worth $1,525,182 in the last 90 days. Corporate insiders own 1.78% of the company's stock.

Hedge Funds Weigh In On Plexus

Institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Plexus in the second quarter valued at about $35,755,000. Northwestern Mutual Wealth Management Co. acquired a new position in Plexus in the 2nd quarter valued at about $584,000. Evolve Private Wealth LLC acquired a new position in Plexus in the 2nd quarter valued at about $1,102,000. Callan Family Office LLC bought a new position in Plexus in the 2nd quarter valued at about $396,000. Finally, Patron Partners LLC bought a new position in Plexus in the 2nd quarter valued at about $245,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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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