Waverly Advisors LLC reduced its holdings in Plexus Corp. (NASDAQ:PLXS – Free Report) by 16.8% in the 2nd quarter, Holdings Channel reports. The fund owned 36,108 shares of the technology company’s stock after selling 7,299 shares during the quarter. Waverly Advisors LLC’s holdings in Plexus were worth $10,857,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. Inspire Investing LLC increased its stake in Plexus by 1.6% during the 4th quarter. Inspire Investing LLC now owns 3,178 shares of the technology company’s stock worth $467,000 after purchasing an additional 50 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Plexus by 20.8% in the fourth quarter. Allworth Financial LP now owns 302 shares of the technology company’s stock valued at $44,000 after buying an additional 52 shares during the period. Maryland State Retirement & Pension System boosted its holdings in shares of Plexus by 1.5% in the fourth quarter. Maryland State Retirement & Pension System now owns 3,940 shares of the technology company’s stock valued at $579,000 after buying an additional 60 shares during the period. Trust Point Inc. increased its position in shares of Plexus by 5.5% during the second quarter. Trust Point Inc. now owns 1,308 shares of the technology company’s stock worth $393,000 after acquiring an additional 68 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Plexus by 1.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,175 shares of the technology company’s stock worth $908,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.
Insiders Place Their Bets
In other news, Director Michael V. Schrock sold 4,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were 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 directly owned 40,329 shares in the company, valued at $11,090,475. This represents a 9.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kelsey sold 1,500 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $250.98, for a total transaction of $376,470.00. Following the transaction, the chief executive officer owned 65,888 shares of the company’s stock, valued at approximately $16,536,570.24. This represents a 2.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 7,500 shares of company stock valued at $2,039,375 in the last three months. 1.78% of the stock is currently owned by corporate insiders.
Plexus Price Performance
Plexus (NASDAQ:PLXS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.19. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.23 billion. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The firm’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.64 earnings per share. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. As a group, equities research analysts forecast that Plexus Corp. will post 7.11 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on PLXS. Stifel Nicolaus raised their price objective on shares of Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Zacks Research raised shares of Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and set a $308.00 target price for the company in a report on Friday, July 31st. Weiss Ratings downgraded Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $310.00 price target on shares of Plexus in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $273.00.
Check Out Our Latest Stock Analysis on PLXS
Plexus Company Profile
Plexus Corp. (NASDAQ: PLXS) is a global provider of electronics manufacturing services (EMS) and precision engineered electronics solutions. Headquartered in Neenah, Wisconsin, the company partners with original equipment manufacturers across industries such as medical, industrial, aerospace and defense, computing, and communications. Plexus offers a full suite of services that span new product introduction, product lifecycle management, supply chain management, printed circuit board assembly, system integration, and aftermarket support.
Founded in 1979, Plexus has grown from a regional electronics assembler into a multinational organization with manufacturing and engineering centers across North America, Europe, and Asia.
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