Plexus (NASDAQ:PLXS) Upgraded to “Strong-Buy” at Zacks Research

Plexus (NASDAQ:PLXS) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages have also issued reports on PLXS. Needham & Company LLC increased their target price on shares of Plexus from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price target for the company in a research note on Friday, July 31st. Raymond James Financial reissued an “outperform” rating and set 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, Wall Street Zen raised Plexus from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $273.00.

Plexus Stock Up 0.6%

PLXS opened at $271.95 on Tuesday. Plexus has a fifty-two week low of $126.86 and a fifty-two 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. The company has a market capitalization of $7.28 billion, a P/E ratio of 40.11 and a beta of 0.90. The stock has a fifty day moving average of $272.93 and a 200-day moving average of $239.49.

Plexus (NASDAQ:PLXS) last released 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 business 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 company posted $1.64 earnings per share. Plexus’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. On average, equities analysts expect that Plexus will post 6.73 EPS for the current year.

Insider Activity

In related news, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $252.77, for a total transaction of $379,155.00. Following the sale, the chief executive officer owned 72,388 shares in the company, valued at approximately $18,297,514.76. This trade represents a 2.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael J. Running sold 510 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $272.17, for a total transaction of $138,806.70. Following the sale, the insider owned 665 shares in the company, valued at $180,993.05. This represents a 43.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 5,510 shares of company stock worth $1,525,182. Insiders own 1.78% of the company’s stock.

Institutional Investors Weigh In On Plexus

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLXS. BlackRock Inc. bought a new position in shares of Plexus in the 2nd quarter valued at $1,311,631,000. Dimensional Fund Advisors LP boosted its stake in Plexus by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,373,457 shares of the technology company’s stock valued at $201,903,000 after buying an additional 7,051 shares in the last quarter. State Street Corp grew its position in Plexus by 2.3% in the second quarter. State Street Corp now owns 1,059,501 shares of the technology company’s stock valued at $143,361,000 after acquiring an additional 24,115 shares during the last quarter. Geode Capital Management LLC grew its position in Plexus by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 672,614 shares of the technology company’s stock valued at $98,890,000 after acquiring an additional 4,054 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in Plexus by 5.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 446,705 shares of the technology company’s stock worth $65,666,000 after acquiring an additional 24,441 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

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.