Plexus (NASDAQ:PLXS) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Plexus (NASDAQ:PLXS) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other research analysts have also recently commented on the company. Weiss Ratings raised Plexus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 price target on shares of Plexus in a report on Friday, August 14th. Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. KeyCorp upgraded Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 price objective for the company in a report on Monday, September 21st. Finally, Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price objective for the company in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $276.86.

Plexus Price Performance

PLXS stock opened at $222.32 on Friday. Plexus has a 12 month low of $132.03 and a 12 month high of $307.06. 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 50-day moving average price of $249.15 and a 200 day moving average price of $238.11. The stock has a market cap of $5.95 billion, a PE ratio of 32.79 and a beta of 0.88.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.13 by $0.19. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the firm posted $1.64 EPS. The firm’s revenue was up 28.2% compared to the same quarter last year. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. Equities research analysts anticipate that Plexus will post 7.13 earnings per share for the current year.

Insider Transactions at Plexus

In other news, Director Michael V. Schrock sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $275.00, for a total transaction of $1,100,000.00. Following the transaction, the director owned 40,329 shares in the company, valued at approximately $11,090,475. This trade represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kelsey sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $250.98, for a total value of $376,470.00. Following the transaction, the chief executive officer owned 65,888 shares in the company, valued at approximately $16,536,570.24. This represents a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 9,000 shares of company stock valued at $2,319,260. 1.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trust Point Inc. lifted its holdings in shares of Plexus by 5.5% in the 2nd quarter. Trust Point Inc. now owns 1,308 shares of the technology company’s stock worth $393,000 after acquiring an additional 68 shares during the last quarter. Signaturefd LLC boosted its position in shares of Plexus by 6.1% during the 3rd quarter. Signaturefd LLC now owns 1,765 shares of the technology company’s stock worth $461,000 after purchasing an additional 101 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Plexus by 6.0% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,858 shares of the technology company’s stock worth $376,000 after purchasing an additional 105 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Plexus in the 2nd quarter valued at approximately $32,000. Finally, Root Financial Partners LLC acquired a new stake in Plexus in the 3rd quarter valued at approximately $32,000. 94.45% of the stock is currently owned by institutional investors.

Plexus Company Profile

Plexus Corp. is an electronics manufacturing services company that helps customers design, develop, manufacture and service complex electronic products. The company provides an integrated product-realization process spanning engineering and design, supply-chain management, manufacturing, testing, logistics and aftermarket services.

Plexus supports original equipment manufacturers in industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.