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Plexus Corp

Plexus Corp

PLXS
$250.63USD↑+0.74%+1.83 today

MARKET CAP

6.7B

P/E (TTM)

31.8x

FWD P/E

27.4x

DAY RANGE

$238 – $253

52W RANGE

$115
$307

AI Summary

Stalk
TrimMedium

PLXS is in a Stage 4 decline with established lower highs and lower lows and a decisive support breakdown. Medium-term bias remains bearish, reinforced by the Support Failure pattern and price trading below down-sloping EMAs acting as resistance. Extreme oversold conditions suggest that selling immediacy is unfavorable, so execution should be deferred into a bounce and rejection at the EMA/SMA resistance zone. The long-term uptrend remains intact via the rising 200-day SMA, anchoring secular polarity despite near-term distribution.

  • ↑Q2 revenue of $1.164B (+19% YoY) beat guidance; Q3 guided to $1.2–$1.25B
  • ↑Non-GAAP EPS of $2.05; ROIC at 13.8% signals strong capital returns
  • ↓Ongoing global supply chain disruptions could limit order fulfillment
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Plexus Corp. (NASDAQ: PLXS) is a leading provider of electronic manufacturing services (EMS), specializing in complex product assemblies for original equipment manufacturers (OEMs) across various sectors such as aerospace and defense, healthcare, and industrial markets. The company aims to leverage operational efficiencies and innovative technologies to enhance its service offerings, while also focusing on sustainability and customer-centric solutions. As it navigates current economic challenges, Plexus is strategically positioned to capitalize on growing demand in its core markets and aims to be a key player in the transition towards advanced manufacturing processes.

Bull says

  • ↑Q2 revenue of $1.164B (+19% YoY) beat guidance; Q3 guided to $1.2–$1.25B
  • ↑Non-GAAP EPS of $2.05; ROIC at 13.8% signals strong capital returns
  • ↑New manufacturing programs totaling $355M annualized revenue secured
  • ↑Maintained 6% non-GAAP operating margin through productivity initiatives
  • ↑CapEx of $100–$120M focused on efficiency; gross margin at 10.2%
  • ↑Strong momentum and earnings revisions support bullish sentiment

Bear says

  • ↓Ongoing global supply chain disruptions could limit order fulfillment
  • ↓Earnings yield near zero and rising costs may compress margins
  • ↓Healthcare segment growth was modest; transportation volatility risks revenue
  • ↓Low dividend yield deters income investors amid high CapEx focus
  • ↓Elevated short interest and leverage amplify downside if conditions tighten
  • ↓Debt levels pose risk if interest rates rise, limiting flexibility

Earnings Call · Q2 2026 · Mgmt. Guidance

Updated 05-01-2026bullish

Transcript signals

Bull points

  • revenue increased 19% sequentially in the fiscal second quarter, significantly outperforming our expectation of a mid-single digit increase due to improved end market demand across all subsectors and our team's efforts to expand component availability.
  • We anticipate fiscal 2026 revenue growth for the aerospace and defense sector to exceed our 9% to 12% goal, with growth expected to be well into the double digits.
  • We continue to have a robust fiscal 2026 outlook for the healthcare life sciences sector, anticipating revenue growth to exceed our 9% to 12% goal, supported by contributions from ongoing and new program ramps, share gains, and strong end market demand across our therapeutics and monitoring subsectors.

Bear points

  • At the midpoint, gross margin would be slightly below last quarter, impacted by the timing of program ramps, capability investments, and ongoing higher incentive compensation, given our robust revenue growth and strong financial returns.
  • we expect a usage of cash, a free cash flow for the fiscal third quarter.
Read full transcript analysis ›