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

Zacks Research upgraded shares of Plexus (NASDAQ:PLXS) from a hold rating to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms have also recently weighed in on PLXS. Needham & Company LLC upped their price objective 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. Weiss Ratings lowered shares of Plexus from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Stifel Nicolaus boosted their target price on shares of Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $275.00 price target on shares of Plexus in a report on Thursday, April 30th. Finally, Sidoti upgraded shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price target on the stock in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $273.00.

Plexus Trading Up 0.6%

Shares of NASDAQ:PLXS opened at $271.95 on Tuesday. The company has a market capitalization of $7.28 billion, a P/E ratio of 40.11 and a beta of 0.90. Plexus has a 1 year low of $126.86 and a 1 year high of $307.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.49 and a quick ratio of 0.72. The business’s 50 day simple moving average is $272.93 and its 200 day simple moving average is $239.49.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.19. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.23 billion. Plexus had a return on equity of 12.46% and a net margin of 4.03%.The company’s revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the company earned $1.64 EPS. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. On average, research analysts anticipate that Plexus will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $294.98, for a total transaction of $442,470.00. Following the sale, the chief executive officer directly owned 68,888 shares of the company’s stock, valued at approximately $20,320,582.24. The trade was a 2.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 shares were sold at an average price of $272.17, for a total transaction of $138,806.70. Following the completion of the transaction, the insider directly owned 665 shares of the company’s stock, valued at approximately $180,993.05. The trade was a 43.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 5,510 shares of company stock worth $1,525,182. 1.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Plexus

Institutional investors and hedge funds have recently bought and sold shares of the company. Hodges Capital Management Inc. lifted its holdings in shares of Plexus by 47.7% during the fourth quarter. Hodges Capital Management Inc. now owns 17,950 shares of the technology company’s stock worth $2,639,000 after purchasing an additional 5,795 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Plexus in the first quarter valued at $2,410,000. Jefferies Financial Group Inc. acquired a new stake in Plexus in the fourth quarter valued at $2,182,000. GSA Capital Partners LLP increased its holdings in Plexus by 159.6% in the fourth quarter. GSA Capital Partners LLP now owns 14,638 shares of the technology company’s stock valued at $2,152,000 after purchasing an additional 8,999 shares during the period. Finally, Inspire Investing LLC raised its position in Plexus by 239.5% during the 1st quarter. Inspire Investing LLC now owns 10,789 shares of the technology company’s stock worth $2,185,000 after purchasing an additional 7,611 shares during the last quarter. Institutional investors and hedge funds 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.