Plexus (NASDAQ:PLXS) Rating Increased to Buy at Sidoti

Sidoti upgraded shares of Plexus (NASDAQ:PLXS) from a neutral rating to a buy rating in a report released on Friday morning, MarketBeat Ratings reports. The firm currently has $308.00 price objective on the technology company’s stock.

A number of other analysts have also recently issued reports on PLXS. Wall Street Zen upgraded Plexus from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Needham & Company LLC raised their price target on shares of Plexus from $285.00 to $310.00 and gave the company a “buy” rating in a report on Monday, June 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $275.00 price target on shares of Plexus in a research report on Thursday, April 30th. Stifel Nicolaus boosted their price objective on shares of Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings raised shares of Plexus from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 6th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $273.00.

Plexus Price Performance

Shares of Plexus stock opened at $251.34 on Friday. Plexus has a twelve month low of $124.49 and a twelve month high of $307.06. The stock has a market capitalization of $6.73 billion, a P/E ratio of 37.07 and a beta of 0.88. The company has a current ratio of 1.49, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average price is $273.36 and its 200 day moving average price is $233.81.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.19. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate 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 business earned $1.64 earnings per share. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. As a group, research analysts anticipate that Plexus will post 5.98 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Todd P. Kelsey sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $294.98, for a total transaction of $442,470.00. Following the transaction, 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 transaction was disclosed in a legal filing 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 business’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 value of $138,806.70. Following the transaction, the insider directly owned 665 shares in the company, valued at $180,993.05. This trade represents a 43.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,481 shares of company stock worth $5,519,183 in the last ninety days. 1.78% of the stock is owned by corporate insiders.

Institutional Trading of Plexus

Several large investors have recently bought and sold shares of the company. Covestor Ltd lifted its position in shares of Plexus by 207.7% during the fourth 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 grew its holdings in Plexus by 20.8% during the 4th quarter. Allworth Financial LP now owns 302 shares of the technology company’s stock valued at $44,000 after purchasing an additional 52 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Plexus during the 3rd quarter valued at $72,000. Farther Finance Advisors LLC increased its stake in Plexus by 114.7% during the 4th 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. Finally, EverSource Wealth Advisors LLC increased its stake in Plexus by 583.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 574 shares of the technology company’s stock worth $78,000 after buying an additional 490 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.