Isthmus Partners LLC trimmed its position in shares of Plexus Corp. (NASDAQ:PLXS – Free Report) by 26.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,159 shares of the technology company’s stock after selling 2,618 shares during the quarter. Isthmus Partners LLC’s holdings in Plexus were worth $1,868,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Plexus in the 2nd quarter worth approximately $1,311,631,000. Congress Asset Management Co. lifted its stake in shares of Plexus by 204.0% in the 3rd quarter. Congress Asset Management Co. now owns 315,396 shares of the technology company’s stock valued at $82,303,000 after purchasing an additional 211,663 shares during the period. Bank of America Corp DE purchased a new position in shares of Plexus in the 2nd quarter valued at approximately $60,281,000. Bank of New York Mellon Corp bought a new stake in shares of Plexus during the second quarter valued at approximately $55,525,000. Finally, Emerald Advisers LLC bought a new stake in shares of Plexus during the first quarter valued at approximately $33,729,000. 94.45% of the stock is owned by institutional investors.
Plexus Price Performance
Shares of NASDAQ PLXS opened at $220.78 on Friday. Plexus Corp. has a fifty-two week low of $132.03 and a fifty-two week high of $307.06. The company has a 50 day simple moving average of $250.63 and a two-hundred day simple moving average of $258.62. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 35.21 and a beta of 0.88. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.49.
Plexus (NASDAQ:PLXS – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.32 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the previous year, the firm posted $1.64 EPS. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. Analysts expect that Plexus Corp. will post 7.13 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have issued reports on PLXS shares. Wall Street Zen upgraded Plexus from a “hold” rating to a “buy” rating in a report on Sunday, October 4th. KeyCorp raised Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 price objective for the company in a research report on Monday, September 21st. Weiss Ratings upgraded shares of Plexus from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Zacks Research upgraded shares of Plexus from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Finally, Sidoti raised shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 target price on the stock in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. Based on data from MarketBeat, Plexus currently has an average rating of “Buy” and an average target price of $276.86.
Check Out Our Latest Report on PLXS
Insider Activity at Plexus
In other Plexus news, Director Michael V. Schrock sold 4,000 shares of Plexus stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $275.00, for a total transaction of $1,100,000.00. Following the completion of the transaction, the director owned 40,329 shares in the company, valued at approximately $11,090,475. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kelsey sold 1,500 shares of Plexus stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $250.98, for a total value of $376,470.00. Following the transaction, the chief executive officer owned 65,888 shares of the company’s stock, valued at $16,536,570.24. The trade was a 2.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,000 shares of company stock valued at $2,319,260 in the last 90 days. Corporate insiders own 1.78% of the company’s stock.
Plexus Company Profile
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.
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