Plexus Corp. (PLXS) Stock Analysis
Breakout setup
Technology · Electronic Components
Sell if holding. Engine safety override at $291.16: Quality below floor (3.7 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.4/10. Specifically: Below-average business quality.
Plexus Corp. designs, manufactures, and services highly complex products for approximately 190 customers in the Aerospace/Defense (17%), Healthcare/Life Sciences (40%), and Industrial (43%) sectors, operating 26 facilities across the Americas, Asia-Pacific, and EMEA regions with... Read more
Sell if holding. Engine safety override at $291.16: Quality below floor (3.7 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.4/10. Specifically: Below-average business quality. Chart setup: Golden cross, above all MAs, RSI 65, MACD bullish. Score 5.4/10, moderate confidence.
Passes 6/8 gates (positive momentum, clean insider activity, news events none recent, earnings proximity 43d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: moderate.
About Plexus Corp.
About Plexus Corp.
Plexus Corp.'s fiscal 2025 net sales split across three verticals: Healthcare/Life Sciences at 40%, Industrial at 43%, and Aerospace/Defense at 17%—with no individual customer representing more than 10% of sales. The company served approximately 190 customers through 26 facilities across the Americas, Asia-Pacific, and EMEA regions, supported by over 20,000 employees. The top 10 customers collectively accounted for 49.1% of net sales in fiscal 2025.
Plexus provides services primarily on a turnkey basis, meaning the company finances all required materials and components before billing the customer, creating significant working capital exposure. Revenue visibility is constrained by the absence of firm long-term purchase commitments; cancellations, delays, and scope reductions have occurred across multiple periods and are disclosed as an ongoing risk. Input costs include advanced semiconductors, printed circuit boards, custom-engineered plastics, and sheet metal fabrications sourced from a broad network; in some cases a single component has only one qualified supplier, requiring inventory buffer building until alternate sources are developed. The Healthcare/Life Sciences sector is subject to FDA and other government agency oversight, while aerospace and defense programs must comply with Department of Defense and Federal Aviation Authority requirements—regulatory changes that may affect demand with little advance notice. Competitors include vertically integrated electronics manufacturing services firms with greater scale and resources than Plexus, as well as customers' in-house manufacturing alternatives.
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Plexus's manufacturing concentration in the Asia-Pacific region—with a particular focus on Malaysia—represents the most geographically specific operating risk in the filing. The 10-K states that a significant portion of net sales, operating income, and cash balances are held in APAC, particularly in Malaysia, and that adverse economic or political developments there could materially impact results. In Mexico, operations run under the IMMEX tariff program, which provides reduced tariffs and eased import regulations; changes to IMMEX terms or compliance failures could disrupt those facilities. Compounding geographic risk, the company acknowledges relying on single-provider suppliers for certain components, where a quality failure, financial distress, or capacity constraint at such a supplier leaves no immediate alternative.
See also: Technology · Electronic Components
From Plexus Corp.'s most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-06-17Recent Developments — Plexus Corp.
Latest news
- NEWS Needham Maintains Buy on Plexus, Raises Price Target to $310 — benzinga Jun 1, 2026 positive
- NEWS Needham Maintains Buy on Plexus, Raises Price Target to $285 — benzinga May 1, 2026 positive
- NEWS Plexus Appoints David Abuhl CFO, Effective May 11, Succeeding Patrick Jermain — benzinga Apr 29, 2026 neutral
- NEWS Plexus Sees Q3 Adj EPS $2.02-$2.18 vs $1.99 Est; Sees Sales $1.200B-$1.250B vs $1.151B Est — benzinga Apr 29, 2026 positive
- NEWS Plexus Sees Q3 GAAP EPS $1.25-$1.41 vs $1.81 Est — benzinga Apr 29, 2026 negative
Generated 2026-06-17T08:56:48Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMCustomer10 largest customers49%10-K Item 1A: 'Our 10 largest customers accounted for 49.1% and 47.8% of our net sales in fiscal 2025 and 2024, respectively.'
- MEDIUMGeographicMalaysia10-K Item 1A: 'A significant portion of our operations is currently located in the APAC region, particularly in Malaysia.'
Material Events(8-K, last 90d)
- 2026-04-29Item 5.02MEDIUMCFO Patrick J. Jermain announced retirement effective July 31, 2026. Will continue as EVP and CFO through May 10, 2026, then serve in an advisory capacity through July 31. No successor named in available filing text.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
1 floor-breaker
Quality below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $291.16: Quality below floor (3.7 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.4/10. Specifically: Below-average business quality. Chart setup: Golden cross, above all MAs, RSI 65, MACD bullish. Prior stop was $270.78. Score 5.4/10, moderate confidence.
Take-profit target: $296.24 (+1.7% upside). Prior stop was $270.78. Stop-loss: $270.78.
Target reached (-18.0% upside); Quality below floor (3.7 < 4.0).
Plexus Corp. trades at a P/E of 43.1 (forward 31.1). TrendMatrix value score: 4.3/10. Verdict: Sell.
12 analysts cover PLXS with a consensus score of 3.9/5. Average price target: $281.
What does Plexus Corp. do?Plexus Corp. designs, manufactures, and services highly complex products for approximately 190 customers in the...
Plexus Corp. designs, manufactures, and services highly complex products for approximately 190 customers in the Aerospace/Defense (17%), Healthcare/Life Sciences (40%), and Industrial (43%) sectors, operating 26 facilities across the Americas, Asia-Pacific, and EMEA regions with over 20,000 employees. Revenue comes from turnkey manufacturing contracts where Plexus procures all required materials; the top 10 customers accounted for 49.1% of net sales in fiscal 2025, though no single customer exceeded 10%.