Plexus (NASDAQ:PLXS – Get Free Report) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.
A number of other equities research analysts also recently issued reports on the stock. 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. Raymond James Financial restated an “outperform” rating and issued a $275.00 target price on shares of Plexus in a research note on Thursday, April 30th. Stifel Nicolaus increased their price target on Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Wall Street Zen upgraded Plexus from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings raised Plexus from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 6th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $246.67.
Get Our Latest Report on Plexus
Plexus Stock Up 0.5%
Plexus (NASDAQ:PLXS – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.18. Plexus had a return on equity of 12.84% and a net margin of 4.35%.The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the business earned $1.66 EPS. The business’s revenue was up 18.7% on a year-over-year basis. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. On average, sell-side analysts forecast that Plexus will post 5.98 earnings per share for the current fiscal year.
Insider Activity at Plexus
In other news, insider Victor (Pang Hau) Tan sold 3,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $271.23, for a total value of $813,690.00. Following the completion of the transaction, the insider directly owned 10,457 shares of the company’s stock, valued at $2,836,252.11. This trade represents a 22.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Angelo Michael Ninivaggi, Jr. sold 3,270 shares of Plexus stock in a transaction on Friday, May 8th. The shares were sold at an average price of $264.75, for a total value of $865,732.50. Following the completion of the transaction, the executive vice president 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 20,481 shares of company stock worth $5,519,183. Corporate insiders own 1.78% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased 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 valued at $1,074,000 after buying an additional 4,255 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Plexus by 4.6% in 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 acquiring an additional 705 shares during the period. United Services Automobile Association bought a new position in shares of Plexus in the first quarter valued at approximately $218,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Plexus by 12.9% during 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 purchased a new position in Plexus during the second quarter valued at approximately $309,000. Institutional investors 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.
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