Plexus (NASDAQ:PLXS) Shares Gap Up – Here’s Why

Plexus Corp. (NASDAQ:PLXS)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $237.61, but opened at $249.44. Plexus shares last traded at $239.6340, with a volume of 91,562 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PLXS. Needham & Company LLC reissued a “buy” rating and issued a $310.00 price target on shares of Plexus in a report on Friday, August 14th. Zacks Research upgraded Plexus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings cut Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Finally, Sidoti raised shares of 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. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to MarketBeat, Plexus has an average rating of “Buy” and an average target price of $273.00.

Plexus Price Performance

The stock has a market cap of $6.38 billion, a P/E ratio of 35.19 and a beta of 0.90. 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 business’s 50 day moving average price is $267.90 and its two-hundred day moving average price is $243.10.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.19. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The business’s revenue was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 earnings per share. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. As a group, sell-side analysts expect that Plexus Corp. will post 7.11 earnings per share for the current fiscal year.

Insider Activity

In other Plexus news, CEO Todd P. Kelsey sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $250.98, for a total transaction of $376,470.00. Following the completion of the sale, the chief executive officer owned 65,888 shares of the company’s stock, valued at approximately $16,536,570.24. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael J. Running sold 510 shares of the company’s 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 completion of the transaction, the insider owned 665 shares of the company’s stock, valued at approximately $180,993.05. The trade was a 43.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,510 shares of company stock valued at $2,622,497 in the last 90 days. Company insiders own 1.78% of the company’s stock.

Institutional Investors Weigh In On Plexus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in shares of Plexus by 103.1% during the first quarter. AQR Capital Management LLC now owns 8,384 shares of the technology company’s stock worth $1,074,000 after purchasing an additional 4,255 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Plexus by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,971 shares of the technology company’s stock valued at $2,046,000 after purchasing an additional 705 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Plexus in the 1st quarter valued at about $218,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Plexus by 12.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,584 shares of the technology company’s stock valued at $10,197,000 after acquiring an additional 9,078 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of Plexus in the 2nd quarter worth $309,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Plexus Company Profile

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.