Plexus (NASDAQ:PLXS) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Plexus (NASDAQ:PLXS) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

A number of other analysts have also issued reports on PLXS. Weiss Ratings upgraded shares of Plexus from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 6th. Stifel Nicolaus boosted their price target on Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Raymond James Financial restated an “outperform” rating and set a $275.00 price objective on shares of Plexus in a report on Thursday, April 30th. Wall Street Zen raised Plexus from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Needham & Company LLC upped their target price on Plexus from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $246.67.

Plexus Stock Up 0.5%

PLXS opened at $260.36 on Monday. The firm has a market cap of $6.97 billion, a P/E ratio of 38.06 and a beta of 0.88. The business’s fifty day simple moving average is $275.77 and its 200 day simple moving average is $225.28. Plexus has a 52 week low of $115.35 and a 52 week high of $307.06. The company has a quick ratio of 0.74, a current ratio of 1.54 and a debt-to-equity ratio of 0.06.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, April 29th. The technology company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.18. Plexus had a net margin of 4.35% and a return on equity of 12.84%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm earned $1.66 EPS. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. As a group, equities research analysts anticipate that Plexus will post 5.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Angelo Michael Ninivaggi, Jr. sold 3,270 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $264.75, for a total value of $865,732.50. Following the transaction, the executive vice president directly owned 16,266 shares of the company’s stock, valued at approximately $4,306,423.50. This trade represents a 16.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Victor (Pang Hau) Tan sold 3,000 shares of Plexus stock in a transaction on Monday, May 11th. The shares were sold at an average price of $271.23, for a total value of $813,690.00. Following the completion of the transaction, the insider owned 10,457 shares in the company, valued at $2,836,252.11. The trade was a 22.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 20,481 shares of company stock valued at $5,519,183 over the last quarter. Company insiders own 1.78% of the company’s stock.

Hedge Funds Weigh In On Plexus

Large investors have recently modified their holdings of the company. Covestor Ltd increased its position in Plexus by 207.7% during the 4th quarter. Covestor Ltd now owns 240 shares of the technology company’s stock worth $35,000 after purchasing an additional 162 shares in the last quarter. Allworth Financial LP lifted its position in Plexus by 70.1% during the third quarter. Allworth Financial LP now owns 250 shares of the technology company’s stock valued at $36,000 after buying an additional 103 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in Plexus during the second quarter valued at approximately $108,000. Johnson Financial Group Inc. purchased a new stake in Plexus during the third quarter worth approximately $72,000. Finally, Farther Finance Advisors LLC grew its stake in Plexus by 114.7% during the fourth quarter. Farther Finance Advisors LLC now owns 511 shares of the technology company’s stock worth $75,000 after buying an additional 273 shares during the period. 94.45% of the stock is currently owned by hedge funds and other 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.