Plexus (NASDAQ:PLXS) Shares Gap Up – Should You Buy?

Plexus Corp. (NASDAQ:PLXS) gapped up before the market opened on Tuesday . The stock had previously closed at $239.63, but opened at $246.41. Plexus shares last traded at $240.3070, with a volume of 16,230 shares changing hands.

Analyst Upgrades and Downgrades

PLXS has been the subject of a number of recent research reports. Weiss Ratings cut shares of Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. Zacks Research upgraded Plexus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price objective on the stock in a research report on Friday, July 31st. Stifel Nicolaus raised 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $310.00 target price on shares of Plexus in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $273.00.

Plexus Price Performance

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 firm’s 50-day moving average price is $254.11 and its two-hundred day moving average price is $247.67. The stock has a market cap of $6.34 billion, a PE ratio of 34.90 and a beta of 0.89.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.19. The company 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 firm’s quarterly 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 earnings per share. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. On average, equities analysts expect that Plexus Corp. will post 7.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael V. Schrock sold 4,000 shares of the company’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 directly owned 40,329 shares of the company’s stock, valued at $11,090,475. This represents a 9.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Rapp sold 500 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $240.87, for a total value of $120,435.00. Following the completion of the sale, the director directly owned 7,535 shares of the company’s stock, valued at approximately $1,814,955.45. This represents a 6.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,500 shares of company stock worth $2,039,375 in the last ninety days. 1.78% of the stock is owned by insiders.

Institutional Trading of Plexus

Several large investors have recently bought and sold shares of PLXS. Sequoia Financial Advisors LLC lifted its stake in shares of Plexus by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 1,653 shares of the technology company’s stock worth $497,000 after buying an additional 167 shares during the period. Tidal Investments LLC lifted its position in Plexus by 21.6% during the 2nd quarter. Tidal Investments LLC now owns 1,757 shares of the technology company’s stock worth $528,000 after acquiring an additional 312 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Plexus during the 2nd quarter worth about $51,000. NewEdge Advisors LLC purchased a new stake in Plexus during the 2nd quarter valued at about $205,000. Finally, Baird Financial Group Inc. acquired a new position in shares of Plexus in the second quarter valued at about $460,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

About Plexus

Plexus Corp. is a global electronics manufacturing services company that designs, manufactures and services products for original equipment manufacturers. The company supports customers across the product life cycle, from product development and engineering to supply chain management, assembly, testing, fulfillment and aftermarket services.

Plexus provides solutions for industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.