Plexus (NASDAQ:PLXS) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Plexus (NASDAQ:PLXS) from a buy rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

PLXS has been the topic of several other reports. Weiss Ratings raised Plexus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price objective on the stock in a research report on Friday, July 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $310.00 price objective on shares of Plexus in a research note on Friday, August 14th. KeyCorp upgraded Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 target price for the company in a report on Monday, September 21st. Finally, Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $276.86.

Plexus Trading Down 1.7%

Shares of Plexus stock opened at $216.98 on Friday. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 32.00 and a beta of 0.88. The business has a 50-day moving average price of $249.62 and a 200-day moving average price of $258.33. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. Plexus has a twelve month low of $132.03 and a twelve month high of $307.06.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, July 29th. The technology company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.19. Plexus had a return on equity of 12.46% and a net margin of 4.03%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company earned $1.64 EPS. The company’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. Equities research analysts anticipate that Plexus will post 7.13 EPS for the current fiscal year.

Insider Transactions at Plexus

In related news, Director Karen Rapp sold 500 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $240.87, for a total transaction of $120,435.00. Following the completion of the transaction, the director owned 7,535 shares in the company, valued at $1,814,955.45. The trade was a 6.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael V. Schrock sold 4,000 shares of the company’s stock in a transaction 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 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 three months, insiders have sold 9,000 shares of company stock worth $2,319,260. 1.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Plexus

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

About Plexus

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.