Plexus (NASDAQ:PLXS) Stock Rating Upgraded by Zacks Research

Plexus (NASDAQ:PLXS) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also weighed in on the company. Stifel Nicolaus upped their price objective on Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Wall Street Zen raised Plexus from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $275.00 price target on shares of Plexus in a research report on Thursday, April 30th. Weiss Ratings lowered Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Sidoti raised 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 analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $273.00.

Plexus Price Performance

NASDAQ:PLXS opened at $271.95 on Tuesday. The company has a 50-day moving average of $272.93 and a 200-day moving average of $239.49. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 40.11 and a beta of 0.90. Plexus has a 52 week low of $126.86 and a 52 week high of $307.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.49.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share 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 business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business earned $1.64 EPS. 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. As a group, equities research analysts anticipate that Plexus will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Plexus

In other news, insider Michael J. Running sold 510 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $180,993.05. This trade represents a 43.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 completion of the transaction, the chief executive officer directly 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 have sold 5,510 shares of company stock worth $1,525,182 in the last 90 days. Company insiders own 1.78% of the company’s stock.

Hedge Funds Weigh In On Plexus

A number of large investors have recently modified their holdings of PLXS. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Plexus during the second quarter valued at approximately $32,000. Covestor Ltd raised its position in Plexus by 207.7% in the 4th quarter. Covestor Ltd now owns 240 shares of the technology company’s stock worth $35,000 after purchasing an additional 162 shares during the last quarter. Kilter Group LLC bought a new position in Plexus in the 2nd quarter worth approximately $40,000. Allworth Financial LP lifted its holdings in Plexus by 20.8% during the 4th quarter. Allworth Financial LP now owns 302 shares of the technology company’s stock worth $44,000 after buying an additional 52 shares in the last quarter. Finally, Persistent Asset Partners Ltd acquired a new position in Plexus during the 2nd quarter worth $71,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.