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

Plexus Corp. (NASDAQ:PLXS)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $239.63, but opened at $246.41. Plexus shares last traded at $240.3070, with a volume of 16,230 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Sidoti raised shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price objective for the company in a research report on Friday, July 31st. Needham & Company LLC reiterated a “buy” rating and set a $310.00 target price on shares of Plexus in a research report on Friday, August 14th. Weiss Ratings downgraded shares of Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. Finally, Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Plexus has a consensus rating of “Buy” and an average price target of $273.00.

Plexus Price Performance

The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 35.74 and a beta of 0.89. 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 business’s 50-day moving average price is $253.29 and its two-hundred day moving average price is $248.22.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings data 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. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Plexus had a return on equity of 12.46% and a net margin of 4.03%.Plexus’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 earnings per share. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. On average, research analysts forecast that Plexus Corp. will post 7.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael V. Schrock sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $275.00, for a total value of $1,100,000.00. Following the completion of the transaction, the director directly owned 40,329 shares in the company, valued at $11,090,475. This trade represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kelsey sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $250.98, for a total value of $376,470.00. Following the sale, the chief executive officer directly owned 65,888 shares in the company, valued at approximately $16,536,570.24. The trade was a 2.23% 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. In the last 90 days, insiders sold 6,000 shares of company stock worth $1,596,905. Insiders own 1.78% of the company’s stock.

Institutional Investors Weigh In On Plexus

Institutional investors and hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its holdings in shares of Plexus by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 1,653 shares of the technology company’s stock valued at $497,000 after purchasing an additional 167 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Plexus by 21.6% during the second quarter. Tidal Investments LLC now owns 1,757 shares of the technology company’s stock worth $528,000 after purchasing an additional 312 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Plexus during the 2nd quarter valued at $51,000. NewEdge Advisors LLC purchased a new position in Plexus in the second quarter valued at about $205,000. Finally, Baird Financial Group Inc. bought a new stake in shares of Plexus in the 2nd quarter valued at approximately $460,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

About Plexus

Plexus Corp. is a global electronics manufacturing services company that designs, manufactures and services products for original equipment manufacturers. The company supports customers across the product life cycle, from product development and engineering to supply chain management, assembly, testing, fulfillment and aftermarket services.

Plexus provides solutions for industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.