Plexus (NASDAQ:PLXS) Upgraded at Wall Street Zen

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

Several other equities analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. Needham & Company LLC reissued a “buy” rating and issued a $310.00 target price on shares of Plexus in a report on Friday, August 14th. Stifel Nicolaus upped their target price on Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. KeyCorp upgraded Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 price target on the stock in a research note on Monday, September 21st. Finally, Zacks Research upgraded Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $276.86.

Plexus Stock Performance

Shares of Plexus stock opened at $272.63 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. Plexus has a 52 week low of $132.03 and a 52 week high of $307.06. The firm’s 50 day moving average is $254.79 and its two-hundred day moving average is $255.08. The firm has a market capitalization of $7.30 billion, a P/E ratio of 40.21 and a beta of 0.88.

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

Insider Buying and Selling at Plexus

In related news, Director Michael V. Schrock sold 4,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $11,090,475. This trade represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $250.98, for a total value of $376,470.00. Following the transaction, the chief executive officer directly owned 65,888 shares in the company, valued at approximately $16,536,570.24. This represents a 2.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 7,500 shares of company stock worth $1,960,520. 1.78% of the stock is owned by company insiders.

Institutional Trading of Plexus

A number of hedge funds have recently added to or reduced their stakes in the stock. Trust Point Inc. lifted its holdings in shares of Plexus by 5.5% during the 2nd quarter. Trust Point Inc. now owns 1,308 shares of the technology company’s stock valued at $393,000 after acquiring an additional 68 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Plexus by 6.0% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 1,858 shares of the technology company’s stock valued at $376,000 after purchasing an additional 105 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Plexus in the 2nd quarter valued at $32,000. Kilter Group LLC purchased a new position in Plexus in the second quarter valued at about $40,000. Finally, Evolve Private Wealth LLC raised its position in Plexus by 4.0% in the first quarter. Evolve Private Wealth LLC now owns 3,607 shares of the technology company’s stock valued at $731,000 after purchasing an additional 138 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

About Plexus

Plexus Corp. (NASDAQ: PLXS) is an electronics manufacturing services and product development company headquartered in Neenah, Wisconsin. The company helps customers design, engineer, manufacture and service complex electronic products, offering capabilities that span product development, printed circuit board assembly, systems integration, testing, supply-chain management and aftermarket support.

Plexus serves customers in markets including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.