Plexus (PLXS)

Since 1979, Plexus has been partnering with companies to create the products that build a better world. The company is formed by a team of approximately 19,000 individuals who are dedicated to providing global Design and Development, Supply Chain Solutions, New Product Introduction, Manufacturing, and Aftermarket Services. Plexus is a global leader that specializes in serving customers in industries with highly complex products and demanding regulatory environments. Plexus delivers customer service excellence to leading global companies by providing innovative, comprehensive solutions throughout the product's lifecycle.

Company profile

Ticker

PLXS

Exchange

NASDAQ

Website

www.plexus.com

CEO

Todd Kelsey

Incorporated

Wisconsin

Location

Wisconsin

Fiscal year end

Oct 01

Sector

Manufacturing > Bare Printed Circuit Board Manufacturing

Industry (SIC)

Printed Circuit Boards

Flex • Jabil • Sanmina • TTM • Benchmark Electronics • CTS • Kimball Electronics • Key Tronic • SMTC • Sigmatron International ...

SEC CIK

0000785786

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Plexus Aerospace, Defense and Security Services, LLC • Plexus Asia, Ltd. • Plexus Corp. (UK) Limited • Plexus Corp. Limited • Plexus Deutschland GmbH • Plexus Electronica S. de R.L. de C.V. • Plexus (Hangzhou) Co., Ltd. • Plexus International • Plexus Intl. Sales & Logistics, LLC • Plexus Management Services Corporation ...

IRS number

391344447

PLXS stock data

1M 1Y 5Y

News

From Benzinga Pro

Benzinga's Top Ratings Upgrades, Downgrades For August 12, 2022

12 Aug 22

JP Morgan Downgrades Plexus to Underweight

12 Aug 22

JP Morgan analyst Paul Coster downgrades Plexus (NASDAQ:PLXS) from Neutral to Underweight.

Where Plexus Stands With Analysts

29 Jul 22

Over the past 3 months, 4 analysts have published their opinion on Plexus (NASDAQ:PLXS) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.

Raymond James Maintains Outperform on Plexus, Raises Price Target to $105

29 Jul 22

Needham Maintains Buy on Plexus, Raises Price Target to $105

29 Jul 22

Press releases

From Benzinga Pro

Plexus Corp. Opens New Manufacturing Facility in Bangkok, Thailand

8 Aug 22

NEENAH, WI, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Plexus Corp., (NASDAQ:PLXS) a global leader in complex product design, manufacturing, supply chain and aftermarket services, today announced the opening of its new advanced

Plexus Announces Fiscal Third Quarter Financial Results

27 Jul 22

NEENAH, WI, July 27, 2022 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ:PLXS) today announced financial results for our fiscal third quarter ended July 2, 2022, and guidance for our fiscal fourth quarter ending October 1,

Plexus Sets Fiscal Third Quarter 2022 Earnings Release Date

29 Jun 22

NEENAH, WI, June 29, 2022 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ:PLXS) announced today it will release its fiscal third quarter 2022 results after market close on Wednesday, July 27, 2022. Plexus' management will

Plexus to Present at Stifel 2022 Cross Sector Insight Conference

24 May 22

Analyst ratings and price targets

Last 3 months

Average target

$102.67

Low target

$98.00

High target

$105.00

Calendar

5 Aug 22

12 Aug 22

1 Oct 22

Financial summary

Financial statements Chart PLXS financial data

Quarter (USD)	Jul 22	Apr 22	Jan 22	Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Oct 21	Oct 20	Sep 19	Sep 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	277.83M	277.83M	277.83M	277.83M	277.83M	277.83M
Cash burn (monthly)	10.35M	2.47M	(no burn)	(no burn)	7.07M	1.23M
Cash used (since last report)	14.2M	3.39M	n/a	n/a	9.69M	1.69M
Cash remaining	263.63M	274.44M	n/a	n/a	268.14M	276.14M
Runway (months of cash)	25.5	111.0	n/a	n/a	38.0	224.2

Beta Read what these cash burn values mean

Financial data from Plexus earnings reports.

Recent insider trades

PLXS insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
12 Aug 22	Kelsey Todd P.	Common Stock, $.01 par value	Sell	Dispose S	No	No	96.41	1,000	96.41K	97,904
12 Aug 22	Kelsey Todd P.	Common Stock, $.01 par value	Sell	Dispose S	Yes	Yes	96	2,000	192K	19,451
11 Aug 22	Kelsey Todd P.	Common Stock, $.01 par value	Sell	Dispose S	Yes	Yes	96	1,000	96K	21,451
11 Aug 22	Kelsey Todd P.	Common Stock, $.01 par value	Sell	Dispose S	No	No	95.6852	2,624	251.08K	98,904
10 Aug 22	Kelsey Todd P.	Common Stock, $.01 par value	Sell	Dispose S	No	No	94.9633	3,000	284.89K	101,528
4 Aug 22	Ninivaggi Angelo Michael Jr	Common Stock, $.01 par value	Gift	Dispose G	No	No	0	128	0	32,082
3 Aug 22	Kelsey Todd P.	Common Stock, $.01 par value	Sell	Dispose S	No	No	94.56	3,000	283.68K	104,528
2 Aug 22	Frisch Steven J.	Common Stock, $.01 par value	Sell	Dispose S	No	No	94.2563	3,016	284.28K	50,086
1 Aug 22	Patrick John Jermain	Common Stock, $.01 par value	Sell	Dispose S	No	No	93.8416	2,500	234.6K	45,434
1 Aug 22	Frisch Steven J.	Common Stock, $.01 par value	Sell	Dispose S	No	No	93.789	3,564	334.26K	53,102

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

PLXS institutional ownership history Ownership history

97.5% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	213	225	-5.3%
Opened positions	22	26	-15.4%
Closed positions	34	29	+17.2%
Increased positions	64	67	-4.5%
Reduced positions	86	94	-8.5%

13F shares	Current	Prev Q	Change
Total value	2.23B	2.55B	-12.9%
Total shares	27.01M	26.65M	+1.4%
Total puts	11.4K	0	NEW
Total calls	18.1K	22.8K	-20.6%
Total put/call ratio	0.6	–	–

Largest owners	Shares	Value	Change
BLK Blackrock	4.43M	$362.05M	+0.3%
Vanguard	3.06M	$250.55M	-1.9%
Disciplined Growth Investors	2.27M	$185.89M	+3.4%
Dimensional Fund Advisors	1.82M	$148.78M	+0.5%
Earnest Partners	1.31M	$106.8M	-2.8%
Fiduciary Management	1.17M	$96.11M	+14.4%
Victory Capital Management	1.03M	$83.95M	+3.2%
STT State Street	1.01M	$83.03M	+0.2%
Cooke & Bieler	865.94K	$70.84M	+20.7%
Massachusetts Financial Services	862.18K	$70.54M	+5.6%

Largest transactions	Shares	Bought/sold	Change
William Blair Investment Management	482.95K	+482.95K	NEW
Hotchkis & Wiley Capital Management	348.03K	+322.25K	+1249.9%
Norges Bank	0	-290.87K	EXIT
Cooke & Bieler	865.94K	+148.59K	+20.7%
Fiduciary Management	1.17M	+147.97K	+14.4%
SAMG Silvercrest Asset Management	597.74K	-75.67K	-11.2%
Disciplined Growth Investors	2.27M	+74.65K	+3.4%
Meritage Portfolio Management	0	-59.91K	EXIT
Vanguard	3.06M	-59.57K	-1.9%
Intrinsic Edge Capital Management	128.93K	+48.93K	+61.2%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

Iec Electronics • Benchmark Electronics • Sanmina • Jabil • Celestica • OSI Systems

Risks

The end markets we serve require technologically advanced products and such markets may be impacted by a number of factors that could adversely impact our customers’ demand.
We have a complex business model, and our failure to properly manage or execute on that model could adversely affect our operations, financial results and reputation.

Management Discussion

Net sales. For the three months ended July 2, 2022, net sales increased $166.9 million, or 20.5%, as compared to the three months ended July 3, 2021. For the nine months ended July 2, 2022, net sales increased $161.9 million, or 6.4%, as compared to the nine months ended July 3, 2021.
Net sales are analyzed by management by geographic segment, which reflects our reportable segments, and by market sector. Management measures operational performance and allocates resources on a geographic segment basis. Our global business development strategy is based on our targeted market sectors.
AMER. Net sales for the three months ended July 2, 2022 in the AMER segment increased $23.7 million, or 7.4%, as compared to the three months ended July 3, 2021. The increase in net sales was driven by a $26.8 million increase in production ramps of new products for existing customers, overall net increased customer end-market demand and increased pricing associated with inflated component prices, partially offset by the impact of supply chain constraints that have created limitations with meeting available customer demand. These increases were further offset by an $8.3 million decrease due to partial loss of business with customers and a $6.4 million decrease for end-of-life products.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Avg

New words: EBITDA, equal, EURIBOR, exceed, greater, iii, iv, Journal, overnight, prime, Simple, SOFR, sterling, Street, unrestricted, Wall

Removed: aerospace, arise, eurocurrency, heightened, implemented, infection, LIBOR, maintaining, priority, progressively, safeguard, securing, top

From filing 10-Q 2022 Q3

Financial reports

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