PLEXUS CORP
PLXS · Printed Circuit Boards · 26.8M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $20M (gross $41M, SBC $21M)
Reference price $292.11 · est. market cap ~$7.8B — last insider sale, 2026-06-17 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C62High-end EMS contract manufacturer with razor-thin (but normal) margins, an earnings rebound, and good coverage.
Strengths
- Earnings rebound and returns — net income +54.6% (81st), ROA 5.5% (77th), interest coverage 17.44
- Positive free cash flow — FCF $154.0M (58th)
Risks
- Razor-thin margins — gross margin 10.1%, net margin 4.3% — structural to EMS
- Weak quick liquidity — 0.77 (22nd)
- Customer-concentration and demand-cyclicality risk — qualitative (per 10-K)
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Customer concentration~49% of revenue from one customer/distributor — Our 10 largest customers accounted for 49
- Buying back stockNet buyback — share count -2%/yr over 4y
- Strong balance sheetStrong balance sheet — $306M cash & investments
- New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
- AccumulatingInstitutional holders rose 7→8 QoQ (2025-12-31→2026-03-31)
- Insider sellingInsider selling — 47 open-market sale(s) by 10 insider(s) (cluster of 10 insiders, ~$19M, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, FMR LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
10.1%
Operating margin
5.0%
Net margin
4.3%
Return on equity
11.9%
Return on assets
5.5%
Revenue growth (QoQ)
8.8%
Net-income growth
54.6%
Interest coverage
17.4×
Current ratio
1.6×
Free cash flow
$154M
EBITDA
$280M
Tangible book value
$1.5B
Cash & investments
$306M
Stock comp / revenue
0.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-17 | Kelsey Todd P. | Sell | 100 | $292.11 |
| 2026-06-17 | Kelsey Todd P. | Sell | 300 | $294.19 |
| 2026-06-17 | Kelsey Todd P. | Sell | 352 | $296.09 |
| 2026-06-17 | Kelsey Todd P. | Sell | 748 | $295.15 |
| 2026-06-05 | Running Michael J. | Sell | 510 | $272.17 |
| 2026-06-03 | Kelsey Todd P. | Sell | 1.0K | $290.00 |
| 2026-06-01 | Rapp Karen Marie | Sell | 500 | $270.00 |
| 2026-05-27 | Kelsey Todd P. | Sell | 1.0K | $274.75 |
| 2026-05-20 | Kelsey Todd P. | Sell | 700 | $252.20 |
| 2026-05-20 | Kelsey Todd P. | Sell | 800 | $253.26 |
| 2026-05-11 | Tan Victor (Pang Hau) | Sell | 3.0K | $271.23 |
| 2026-05-08 | Ninivaggi Angelo Michael Jr | Sell | 1.5K | $264.11 |
| 2026-05-08 | Ninivaggi Angelo Michael Jr | Sell | 1.6K | $265.18 |
| 2026-05-08 | Ninivaggi Angelo Michael Jr | Sell | 224 | $266.01 |
| 2026-05-07 | Ninivaggi Angelo Michael Jr | Sell | 1.3K | $262.43 |
| 2026-05-07 | Ninivaggi Angelo Michael Jr | Sell | 945 | $263.66 |
| 2026-05-07 | Ninivaggi Angelo Michael Jr | Sell | 59 | $264.38 |
| 2026-05-06 | Jermain Patrick John | I | 3.8K | $268.94 |
| 2026-05-06 | Kelsey Todd P. | Sell | 1.0K | $270.75 |
| 2026-05-05 | Kelsey Todd P. | Sell | 1.0K | $268.75 |
| 2026-05-05 | Kelsey Todd P. | Sell | 1.0K | $267.10 |
| 2026-05-05 | Kelsey Todd P. | Sell | 1.0K | $269.50 |
| 2026-05-04 | Kelsey Todd P. | Sell | 1.0K | $265.15 |
| 2026-05-04 | Kelsey Todd P. | Sell | 1.4K | $263.00 |
| 2026-04-15 | Kelsey Todd P. | Sell | 1.5K | $224.09 |
| 2026-03-18 | Kelsey Todd P. | Sell | 1.5K | $194.24 |
| 2026-02-27 | Rapp Karen Marie | Sell | 500 | $195.59 |
| 2026-02-25 | Running Michael J. | Sell | 700 | $205.47 |
| 2026-02-25 | MARTINEZ RANDY J | Sell | 1.0K | $203.14 |
| 2026-02-18 | Kelsey Todd P. | Sell | 1.1K | $195.59 |
| 2026-02-18 | Kelsey Todd P. | Sell | 1.2K | $194.47 |
| 2026-02-18 | Mihm Oliver K. | Sell | 9.5K | $201.40 |
| 2026-02-18 | Kelsey Todd P. | Sell | 3.0K | $196.36 |
| 2026-02-17 | Mihm Oliver K. | Option exercise | 4.4K | — |
| 2026-02-17 | Running Michael J. | Option exercise | 1.1K | — |
| 2026-02-17 | Running Michael J. | Tax withheld | 516 | $195.95 |
| 2026-02-17 | Tan Victor (Pang Hau) | Option exercise | 2.0K | — |
| 2026-02-17 | Mihm Oliver K. | Tax withheld | 2.0K | $195.95 |
| 2026-02-17 | Mihm Oliver K. | Sell | 2.2K | $198.78 |
| 2026-02-17 | Kelsey Todd P. | Option exercise | 19K | — |
| 2026-02-17 | Kelsey Todd P. | Tax withheld | 8.8K | $195.95 |
| 2026-02-17 | Ninivaggi Angelo Michael Jr | Option exercise | 3.3K | — |
| 2026-02-17 | Ninivaggi Angelo Michael Jr | Tax withheld | 1.5K | $195.95 |
| 2026-02-17 | Jermain Patrick John | Option exercise | 5.6K | — |
| 2026-02-17 | Jermain Patrick John | Tax withheld | 2.6K | $195.95 |
| 2026-02-12 | Jermain Patrick John | Sell | 2.3K | $201.12 |
| 2026-02-12 | Zycinski Frank | Sell | 1.4K | $205.99 |
| 2026-02-06 | FOATE DEAN A | Sell | 10K | $205.00 |
| 2026-02-06 | Tan Victor (Pang Hau) | Sell | 2.0K | $205.75 |
| 2026-02-06 | Tan Victor (Pang Hau) | Sell | 1.0K | $205.00 |
| 2026-02-05 | Ninivaggi Angelo Michael Jr | Sell | 4.3K | $203.06 |
| 2026-02-04 | Jermain Patrick John | Sell | 3.6K | $204.09 |
| 2026-02-03 | Kelsey Todd P. | Sell | 3.8K | $204.53 |
| 2026-02-03 | Kelsey Todd P. | Sell | 2.2K | $205.88 |
| 2026-02-03 | Kelsey Todd P. | Sell | 2.0K | $207.35 |
| 2026-02-03 | Kelsey Todd P. | Sell | 120 | $208.85 |
| 2026-02-03 | Jueckstock Rainer | Option exercise | 1.4K | — |
| 2026-02-03 | MARTINEZ RANDY J | Option exercise | 1.4K | — |
| 2026-02-03 | SCHROCK MICHAEL V | Option exercise | 1.4K | — |
| 2026-02-03 | ROOKE PAUL A | Option exercise | 1.4K | — |
| 2026-02-03 | Rapp Karen Marie | Option exercise | 1.4K | — |
| 2026-02-03 | Jermain Patrick John | Sell | 4.8K | $204.01 |
| 2026-02-03 | FOATE DEAN A | Option exercise | 1.4K | — |
| 2026-02-03 | Quadracci J Joel | Option exercise | 1.4K | — |
| 2026-02-03 | Wuamett Jennifer | Option exercise | 1.4K | — |
| 2026-02-03 | Eisenhart Joann M | Option exercise | 1.4K | — |
| 2026-02-02 | FOATE DEAN A | Sell | 5.0K | $204.89 |
| 2026-02-02 | Running Michael J. | Sell | 926 | $204.92 |
| 2026-01-30 | Zycinski Frank | Option exercise | 1.4K | — |
| 2026-01-30 | Running Michael J. | Option exercise | 1.8K | — |
| 2026-01-30 | Running Michael J. | Tax withheld | 894 | $199.33 |
| 2026-01-30 | Zycinski Frank | Tax withheld | 677 | $199.33 |
| 2026-01-30 | Tan Victor (Pang Hau) | Option exercise | 3.4K | — |
| 2026-01-30 | Jermain Patrick John | Option exercise | 9.4K | — |
| 2026-01-30 | Jermain Patrick John | Tax withheld | 4.4K | $199.33 |
| 2026-01-30 | Mihm Oliver K. | Option exercise | 7.3K | — |
| 2026-01-30 | Mihm Oliver K. | Tax withheld | 3.5K | $199.33 |
| 2026-01-30 | Kelsey Todd P. | Option exercise | 31K | — |
| 2026-01-30 | Kelsey Todd P. | Tax withheld | 15K | $199.33 |
| 2026-01-30 | Ninivaggi Angelo Michael Jr | Option exercise | 5.5K | — |
| 2026-01-30 | Ninivaggi Angelo Michael Jr | Tax withheld | 2.6K | $199.33 |
| 2025-11-28 | Rapp Karen Marie | Sell | 500 | $143.47 |
| 2025-11-26 | Ninivaggi Angelo Michael Jr | Sell | 1.3K | $144.93 |
| 2025-11-25 | Mihm Oliver K. | Sell | 2.3K | $143.18 |
| 2025-11-21 | Rapp Karen Marie | Gift | 700 | — |
| 2025-11-12 | Ninivaggi Angelo Michael Jr | Option exercise | 3.8K | — |
| 2025-11-12 | Running Michael J. | Option exercise | 1.3K | — |
| 2025-11-12 | Running Michael J. | Tax withheld | 590 | $146.24 |
| 2025-11-12 | Tan Victor (Pang Hau) | Option exercise | 2.3K | — |
| 2025-11-12 | Mihm Oliver K. | Option exercise | 5.0K | — |
| 2025-11-12 | Mihm Oliver K. | Tax withheld | 2.4K | $146.24 |
| 2025-11-12 | Mihm Oliver K. | Gift | 1.1K | — |
| 2025-11-12 | Kelsey Todd P. | Option exercise | 22K | — |
| 2025-11-12 | Kelsey Todd P. | Tax withheld | 10K | $146.24 |
| 2025-11-12 | Ninivaggi Angelo Michael Jr | Tax withheld | 1.8K | $146.24 |
| 2025-11-12 | Jermain Patrick John | Option exercise | 6.5K | — |
| 2025-11-12 | Jermain Patrick John | Tax withheld | 3.0K | $146.24 |
| 2025-11-11 | Jermain Patrick John | Sell | 2.0K | $143.53 |
| 2025-11-10 | Mihm Oliver K. | Sell | 1.7K | $146.11 |
| 2025-11-10 | Ninivaggi Angelo Michael Jr | Sell | 2.5K | $145.28 |
| 2025-11-05 | Kelsey Todd P. | Sell | 2.0K | $145.10 |
| 2025-11-04 | Kelsey Todd P. | Sell | 2.0K | $143.50 |
| 2025-11-04 | Rapp Karen Marie | Gift | 700 | — |
| 2025-11-03 | Kelsey Todd P. | Sell | 1.5K | $139.12 |
| 2025-10-29 | Kelsey Todd P. | Gift | 5.0K | — |
| 2025-10-27 | Jermain Patrick John | Sell | 2.0K | $142.80 |
| 2025-10-01 | Kelsey Todd P. | Sell | 1.5K | $143.70 |
| 2025-09-04 | Ninivaggi Angelo Michael Jr | Gift | 1.1K | — |
| 2025-09-02 | Kelsey Todd P. | Sell | 1.5K | $134.54 |
| 2025-08-29 | Rapp Karen Marie | Sell | 500 | $139.00 |
| 2025-08-28 | Tan Victor (Pang Hau) | Sell | 2.0K | $138.75 |
| 2025-08-28 | Tan Victor (Pang Hau) | Sell | 1.0K | $139.50 |
| 2025-08-27 | Jermain Patrick John | Sell | 2.5K | $137.71 |
| 2025-08-25 | Ninivaggi Angelo Michael Jr | Sell | 1.6K | $137.78 |
| 2025-08-18 | Mihm Oliver K. | Gift | 200 | — |
| 2025-08-15 | Mihm Oliver K. | Sell | 2.1K | $130.43 |
| 2025-08-06 | Jermain Patrick John | Sell | 2.2K | $130.42 |
| 2025-08-01 | Kelsey Todd P. | Sell | 1.5K | $125.63 |
| 2025-07-01 | Kelsey Todd P. | Sell | 1.5K | $134.51 |
| 2025-06-02 | Kelsey Todd P. | Sell | 494 | $129.97 |
| 2025-06-02 | Kelsey Todd P. | Sell | 553 | $129.14 |
| 2025-06-02 | Kelsey Todd P. | Sell | 453 | $130.66 |
| 2025-05-30 | Running Michael J. | Sell | 646 | $130.05 |
| 2025-05-30 | Ninivaggi Angelo Michael Jr | Gift | 62 | — |
| 2025-05-30 | Rapp Karen Marie | Sell | 500 | $130.77 |
| 2025-05-27 | Kelsey Todd P. | Sell | 1.0K | $132.25 |
| 2025-05-27 | Ninivaggi Angelo Michael Jr | Sell | 2.1K | $132.22 |
| 2025-05-27 | Kelsey Todd P. | Sell | 1.0K | $131.10 |
| 2025-05-23 | Kelsey Todd P. | Sell | 1.0K | $130.00 |
| 2025-05-15 | Jermain Patrick John | Sell | 4.3K | $132.29 |
| 2025-05-12 | Jermain Patrick John | Option exercise | 6.2K | — |
| 2025-05-12 | Jermain Patrick John | Tax withheld | 2.9K | $131.36 |
| 2025-05-01 | Kelsey Todd P. | Sell | 1.2K | $122.48 |
| 2025-05-01 | Kelsey Todd P. | Sell | 345 | $120.61 |
| 2025-04-01 | Kelsey Todd P. | Sell | 1.5K | $127.29 |
| 2025-03-03 | Kelsey Todd P. | Sell | 1.5K | $132.92 |
| 2025-02-28 | Rapp Karen Marie | Sell | 500 | $131.21 |
| 2025-02-21 | Running Michael J. | Sell | 1.2K | $138.62 |
| 2025-02-20 | Kelsey Todd P. | Sell | 3.5K | $140.71 |
| 2025-02-19 | Kelsey Todd P. | Sell | 2.0K | $140.00 |
| 2025-02-18 | MARTINEZ RANDY J | Sell | 887 | $140.52 |
| 2025-02-14 | Ninivaggi Angelo Michael Jr | Sell | 2.9K | $139.70 |
| 2025-02-14 | Ninivaggi Angelo Michael Jr | Sell | 2.8K | $138.79 |
| 2025-02-11 | Running Michael J. | Option exercise | 1.1K | — |
| 2025-02-11 | Running Michael J. | Tax withheld | 536 | $140.83 |
| 2025-02-11 | Tan Victor (Pang Hau) | Option exercise | 1.8K | — |
| 2025-02-11 | Ninivaggi Angelo Michael Jr | Option exercise | 3.3K | — |
| 2025-02-11 | Ninivaggi Angelo Michael Jr | Tax withheld | 1.6K | $140.83 |
| 2025-02-11 | Mihm Oliver K. | Option exercise | 4.2K | — |
| 2025-02-11 | Mihm Oliver K. | Tax withheld | 2.0K | $140.83 |
| 2025-02-11 | Kelsey Todd P. | Option exercise | 17K | — |
| 2025-02-11 | Kelsey Todd P. | Tax withheld | 8.0K | $140.83 |
| 2025-02-11 | Jermain Patrick John | Option exercise | 4.4K | — |
| 2025-02-11 | Jermain Patrick John | Tax withheld | 2.1K | $140.83 |
| 2025-02-10 | Zycinski Frank | Sell | 1.2K | $140.84 |
| 2025-02-05 | Kelsey Todd P. | Sell | 2.0K | $141.50 |
| 2025-02-05 | Kelsey Todd P. | Sell | 2.3K | $142.86 |
| 2025-02-04 | Kelsey Todd P. | Sell | 2.0K | $140.00 |
| 2025-02-03 | Kelsey Todd P. | Sell | 1.5K | $136.96 |
| 2025-01-31 | Zycinski Frank | Option exercise | 3.8K | — |
| 2025-01-31 | Mihm Oliver K. | Option exercise | 6.6K | — |
| 2025-01-31 | Mihm Oliver K. | Tax withheld | 3.1K | $141.71 |
| 2025-01-31 | Ninivaggi Angelo Michael Jr | Option exercise | 5.2K | — |
| 2025-01-31 | Ninivaggi Angelo Michael Jr | Tax withheld | 2.5K | $141.71 |
| 2025-01-31 | Running Michael J. | Option exercise | 1.8K | — |
| 2025-01-31 | Running Michael J. | Tax withheld | 888 | $141.71 |
| 2025-01-31 | Jermain Patrick John | Option exercise | 6.8K | — |
| 2025-01-31 | Jermain Patrick John | Tax withheld | 3.3K | $141.71 |
| 2025-01-31 | Zycinski Frank | Tax withheld | 1.9K | $141.71 |
| 2025-01-31 | Tan Victor (Pang Hau) | Option exercise | 2.7K | $141.71 |
| 2025-01-31 | Kelsey Todd P. | Option exercise | 27K | — |
| 2025-01-31 | Kelsey Todd P. | Tax withheld | 13K | $141.71 |
| 2025-01-30 | Ninivaggi Angelo Michael Jr | Sell | 2.2K | $144.71 |
| 2025-01-30 | Ninivaggi Angelo Michael Jr | Sell | 200 | $146.30 |
| 2025-01-30 | Ninivaggi Angelo Michael Jr | Sell | 1.1K | $145.80 |
| 2025-01-29 | Eisenhart Joann M | Option exercise | 2.0K | — |
| 2025-01-29 | Wuamett Jennifer | Option exercise | 2.0K | — |
| 2025-01-29 | SCHROCK MICHAEL V | Option exercise | 2.0K | — |
| 2025-01-29 | MARTINEZ RANDY J | Option exercise | 2.0K | — |
| 2025-01-29 | Jueckstock Rainer | Option exercise | 2.0K | — |
| 2025-01-29 | FOATE DEAN A | Option exercise | 2.0K | — |
| 2025-01-29 | ROOKE PAUL A | Option exercise | 2.0K | — |
| 2025-01-29 | Rapp Karen Marie | Option exercise | 2.0K | — |
| 2025-01-29 | Quadracci J Joel | Option exercise | 2.0K | — |
| 2025-01-27 | Jermain Patrick John | Sell | 3.4K | $144.57 |
| 2025-01-02 | Kelsey Todd P. | Sell | 1.0K | $156.00 |
| 2025-01-02 | Kelsey Todd P. | Sell | 500 | $157.17 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-08 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-04-29 | ResultsExec/director changeExhibits | filing ↗ |
| 2026-02-19 | Shareholder voteExhibits | filing ↗ |
| 2026-01-28 | ResultsExhibits | filing ↗ |
| 2025-10-22 | ResultsExhibits | filing ↗ |
| 2025-07-23 | ResultsExhibits | filing ↗ |
| 2025-05-14 | OtherExhibits | filing ↗ |
| 2025-04-23 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-08 | 2026-06-05 | 0000785786-26-000038 ↗ |
| 10-Q | 2026-05-07 | 2026-04-04 | 0000785786-26-000031 ↗ |
| 8-K | 2026-04-29 | 2026-04-28 | 0000785786-26-000028 ↗ |
| 8-K | 2026-02-19 | 2026-02-18 | 0000785786-26-000021 ↗ |
| 10-Q | 2026-02-05 | 2026-01-03 | 0000785786-26-000016 ↗ |
| 8-K | 2026-01-28 | 2026-01-28 | 0000785786-26-000005 ↗ |
| 10-K | 2025-11-14 | 2025-09-27 | 0000785786-25-000064 ↗ |
| 8-K | 2025-10-22 | 2025-10-22 | 0000785786-25-000057 ↗ |
| 10-Q | 2025-08-01 | 2025-06-28 | 0000785786-25-000049 ↗ |
| 8-K | 2025-07-23 | 2025-07-23 | 0000785786-25-000045 ↗ |
| 8-K | 2025-05-14 | 2025-05-14 | 0000785786-25-000029 ↗ |
| 10-Q | 2025-05-02 | 2025-03-29 | 0000785786-25-000024 ↗ |