Plexus’ (PLXS) “Buy” Rating Reaffirmed at Needham & Company LLC

Plexus (NASDAQ:PLXS)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They currently have a $310.00 price target on the technology company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 16.70% from the company’s current price.

Several other research firms have also commented on PLXS. Weiss Ratings lowered Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Stifel Nicolaus lifted their target price on Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Wall Street Zen upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Plexus in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $273.00.

Plexus Stock Performance

Shares of PLXS traded up $1.59 on Friday, reaching $265.63. The company’s stock had a trading volume of 97,696 shares, compared to its average volume of 333,397. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.49 and a quick ratio of 0.72. The stock has a market capitalization of $7.11 billion, a P/E ratio of 39.30 and a beta of 0.90. The stock’s 50 day simple moving average is $272.53 and its two-hundred day simple moving average is $240.12. Plexus has a 12-month low of $126.86 and a 12-month high of $307.06.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.19. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business posted $1.64 earnings per share. The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. Research analysts forecast that Plexus will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Plexus

In other news, CEO Todd P. Kelsey sold 1,500 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $294.98, for a total value of $442,470.00. Following the completion of the transaction, the chief executive officer owned 68,888 shares of the company’s stock, valued at $20,320,582.24. This represents a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 dated Friday, June 5th. The stock was sold at an average price of $272.17, for a total value of $138,806.70. Following the completion of the transaction, the insider directly owned 665 shares of the company’s stock, valued at approximately $180,993.05. This trade represents a 43.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,510 shares of company stock valued at $2,625,182 over the last ninety days. 1.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Plexus

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Plexus during the second quarter valued at approximately $1,311,631,000. Victory Capital Management Inc. boosted its position in shares of Plexus by 130.0% during the fourth quarter. Victory Capital Management Inc. now owns 349,057 shares of the technology company’s stock worth $51,311,000 after acquiring an additional 197,283 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Plexus during the second quarter worth $55,525,000. Emerald Advisers LLC purchased a new position in Plexus during the first quarter valued at $33,729,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Plexus during the second quarter valued at $35,755,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Plexus

Here are the key news stories impacting Plexus this week:

• Positive Sentiment: Major upward revisions to earnings forecasts: Zacks Research raised its Plexus estimates across multiple periods, including FY2026 EPS to $7.02 from $5.87, FY2027 EPS to $8.50 from $6.55, and FY2028 EPS to $9.42 from $8.31. Quarterly estimates were also increased, including Q4 2026 EPS to $2.22 from $1.45 and Q3 2027 EPS to $2.16 from $1.49. The revisions signal stronger expected profitability and provide a positive catalyst for PLXS. Earnings Estimates Rising for Plexus
• Positive Sentiment: Ratings momentum remains favorable: Zacks upgraded Plexus from “Hold” to “Strong-Buy,” reinforcing the view that improving earnings expectations could support further upside. Shares have recently risen 7.56% over one week, indicating strong near-term momentum. Plexus Weekly Stock Performance
• Positive Sentiment: Institutional ownership activity is supportive: Several large investors recently initiated or increased positions, while institutional and hedge-fund ownership reached 94.45%. The company also recently exceeded quarterly EPS and revenue expectations, with revenue up 28.2% year over year.

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.