Plexus (NASDAQ:PLXS) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Plexus (NASDAQ:PLXS) from a hold rating to a buy rating in a report issued on Sunday,Wall Street Zen reports.

PLXS has been the subject of a number of other research reports. KeyCorp upgraded Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 price objective for the company in a research report on Monday, September 21st. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 price objective on shares of Plexus in a report on Friday, August 14th. Weiss Ratings cut Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 23rd. Sidoti raised 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. Finally, Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Plexus has a consensus rating of “Buy” and an average target price of $276.86.

Plexus Price Performance

Shares of NASDAQ PLXS opened at $207.96 on Friday. The company has a market cap of $5.56 billion, a P/E ratio of 28.03 and a beta of 0.88. The business has a 50-day simple moving average of $246.75 and a two-hundred day simple moving average of $239.44. The company has a quick ratio of 0.67, a current ratio of 1.43 and a debt-to-equity ratio of 0.05. Plexus has a 52 week low of $132.03 and a 52 week high of $307.06.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, October 28th. The technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.29. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.36 billion. Plexus had a return on equity of 13.34% and a net margin of 4.08%. Plexus’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.14 EPS. Research analysts anticipate that Plexus will post 8.55 earnings per share for the current fiscal year.

Insider Activity

In other Plexus news, Director Karen Rapp sold 500 shares of the stock in a transaction on 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 owned 7,535 shares in the company, valued at approximately $1,814,955.45. This represents a 6.22% decrease in their position. The sale was disclosed in a 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, Director Michael V. Schrock sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $275.00, for a total transaction of $1,100,000.00. Following the completion of the sale, the director owned 40,329 shares of the company’s stock, valued at approximately $11,090,475. This represents a 9.02% 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. Over the last quarter, insiders have sold 9,000 shares of company stock valued at $2,319,260. 1.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Plexus

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Plexus in the second quarter worth $1,311,631,000. Congress Asset Management Co. lifted its stake in Plexus by 204.0% in the third quarter. Congress Asset Management Co. now owns 315,396 shares of the technology company’s stock valued at $82,303,000 after buying an additional 211,663 shares during the period. Bank of America Corp DE bought a new position in shares of Plexus during the 2nd quarter worth approximately $60,281,000. Bank of New York Mellon Corp acquired a new position in shares of Plexus in the second quarter valued at $55,525,000. Finally, Emerald Advisers LLC bought a new position in Plexus in the first quarter valued at approximately $33,729,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Key Plexus News

Here are the key news stories impacting Plexus this week:

• Positive Sentiment: Plexus reported record fiscal 2026 revenue of $4.965 billion, up 23% year over year. Fourth-quarter revenue reached $1.427 billion, while adjusted EPS of $2.84 exceeded estimates near $2.55-$2.57. Plexus Announces Fiscal Fourth Quarter and Fiscal Year 2026 Financial Results
• Positive Sentiment: Management issued fiscal first-quarter 2027 adjusted EPS guidance of $2.46-$2.62, above the $2.34 consensus, and revenue guidance of $1.41-$1.46 billion, modestly ahead of the $1.4 billion estimate. Plexus Provides Earnings Guidance
• Positive Sentiment: The company won 36 manufacturing programs representing $290 million in annualized revenue at full ramp, expanded its qualified opportunity funnel to $4.9 billion, and raised its long-term non-GAAP operating-margin goal to 6.5%-7.0%.
• Positive Sentiment: Plexus authorized a new $100 million fiscal 2027 share-repurchase program after buying back $85 million of stock during fiscal 2026. It also expects at least $100 million of free cash flow in fiscal 2027.
• Neutral Sentiment: The stock’s decline appears to reflect profit-taking and elevated expectations after a substantial prior rally; the strong quarter and guidance were not enough to produce a positive reaction.
• Negative Sentiment: Adjusted operating-margin guidance of 6.0%-6.4% for the first quarter is below the 6.7% achieved in the latest quarter, potentially raising concerns about near-term margin normalization.
• Negative Sentiment: Fiscal-year free cash flow was negative $28.9 million because heavy investment and working-capital needs outweighed operating cash generation. The top 10 customers also represented 54% of fiscal-year revenue, increasing concentration risk.

Plexus Company Profile

Plexus Corp. is an electronics manufacturing services company that helps customers design, develop, manufacture and service complex electronic products. The company provides an integrated product-realization process spanning engineering and design, supply-chain management, manufacturing, testing, logistics and aftermarket services.

Plexus supports original equipment manufacturers in industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.