Sidoti Upgrades Plexus (NASDAQ:PLXS) to Buy

Key Points

• Sidoti upgraded Plexus to “buy” from “neutral” and set a $308 price target, implying approximately 27.3% upside from the stock’s cited price. Analysts overall rate the shares “Moderate Buy,” with an average target of $273.
• Plexus exceeded quarterly expectations, reporting $2.32 in EPS versus $2.13 expected and $1.30 billion in revenue versus $1.23 billion forecast; revenue increased 28.2% year over year.
• Institutional investors own a substantial 94.45% of Plexus, while insiders have sold about $5.5 million of stock over the past 90 days.

Plexus (NASDAQ:PLXS - Get Free Report) was upgraded by equities research analysts at Sidoti from a "neutral" rating to a "buy" rating in a research report issued on Friday,Benzinga reports. The brokerage currently has a $308.00 price target on the technology company's stock. Sidoti's price target suggests a potential upside of 27.28% from the stock's current price.

PLXS has been the subject of a number of other reports. Zacks Research raised Plexus from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Wall Street Zen raised Plexus from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Weiss Ratings upgraded Plexus from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, July 6th. Stifel Nicolaus lifted their price objective 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. Finally, Needham & Company LLC increased their target price on shares of Plexus from $285.00 to $310.00 and gave the company a "buy" rating in a research report on Monday, June 1st. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $273.00.

Plexus Stock Up 0.6%

Shares of NASDAQ:PLXS opened at $241.99 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.54. Plexus has a 52-week low of $124.49 and a 52-week high of $307.06. The business's 50 day simple moving average is $273.64 and its two-hundred day simple moving average is $233.69. The firm has a market cap of $6.48 billion, a P/E ratio of 35.69 and a beta of 0.88.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.19. The company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.23 billion. Plexus had a return on equity of 12.57% and a net margin of 4.03%.Plexus's quarterly revenue was up 28.2% compared to the same quarter last year. During the same period last year, the business earned $1.64 EPS. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. As a group, research analysts forecast that Plexus will post 5.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Victor (Pang Hau) Tan sold 3,000 shares of Plexus stock in a transaction on Monday, May 11th. The stock was sold at an average price of $271.23, for a total value of $813,690.00. Following the completion of the transaction, the insider directly owned 10,457 shares in the company, valued at approximately $2,836,252.11. The trade was a 22.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $294.98, for a total value of $442,470.00. Following the transaction, the chief executive officer directly owned 68,888 shares of the company's stock, valued at $20,320,582.24. The trade was a 2.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 20,481 shares of company stock worth $5,519,183. Insiders own 1.78% of the company's stock.

Hedge Funds Weigh In On Plexus

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wedge Capital Management L L P NC grew its position in Plexus by 15.7% in the second quarter. Wedge Capital Management L L P NC now owns 24,370 shares of the technology company's stock worth $7,327,000 after acquiring an additional 3,300 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Plexus by 7.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 8,537 shares of the technology company's stock valued at $2,567,000 after buying an additional 600 shares in the last quarter. Revolve Wealth Partners LLC bought a new stake in Plexus in the 2nd quarter worth approximately $435,000. Trust Point Inc. boosted its stake in Plexus by 5.5% in the second quarter. Trust Point Inc. now owns 1,308 shares of the technology company's stock worth $393,000 after buying an additional 68 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Plexus by 12.2% during the second quarter. GAMMA Investing LLC now owns 1,843 shares of the technology company's stock valued at $554,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

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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