9,703 Shares in Plexus Corp. $PLXS Purchased by Readystate Asset Management LP

Readystate Asset Management LP acquired a new position in Plexus Corp. (NASDAQ:PLXS) during the 2nd quarter, HoldingsChannel reports. The fund acquired 9,703 shares of the technology company’s stock, valued at approximately $2,917,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Inspire Investing LLC grew its position in shares of Plexus by 1.6% during the 4th quarter. Inspire Investing LLC now owns 3,178 shares of the technology company’s stock valued at $467,000 after acquiring an additional 50 shares during the period. Allworth Financial LP lifted its stake in 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 purchasing an additional 52 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in 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 purchasing an additional 60 shares during the last quarter. Trust Point Inc. grew its holdings in Plexus by 5.5% during the second quarter. Trust Point Inc. now owns 1,308 shares of the technology company’s stock valued at $393,000 after purchasing an additional 68 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its holdings in Plexus by 1.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,175 shares of the technology company’s stock valued at $908,000 after purchasing an additional 71 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PLXS. Stifel Nicolaus boosted their target price on Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price target for the company in a research note on Friday, July 31st. Needham & Company LLC reissued a “buy” rating and issued a $310.00 price objective on shares of Plexus in a report on Friday, August 14th. Zacks Research upgraded Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings downgraded shares of Plexus from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $273.00.

Insider Activity at Plexus

In related news, Director Karen Rapp sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $240.87, for a total transaction of $120,435.00. Following the sale, the director owned 7,535 shares of the company’s stock, valued at approximately $1,814,955.45. This represents a 6.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael V. Schrock sold 4,000 shares of the stock in a transaction that occurred 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 sale, the director owned 40,329 shares in the company, valued at $11,090,475. This represents a 9.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 7,500 shares of company stock valued at $2,039,375. Corporate insiders own 1.78% of the company’s stock.

Plexus Price Performance

Shares of NASDAQ PLXS opened at $245.98 on Monday. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. The company has a market cap of $6.58 billion, a P/E ratio of 36.28 and a beta of 0.89. Plexus Corp. has a 52 week low of $132.03 and a 52 week high of $307.06. The business has a 50-day simple moving average of $258.47 and a two-hundred day simple moving average of $245.59.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share for the quarter, beating the consensus estimate 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 prior year, the business posted $1.64 earnings per share. The company’s revenue was up 28.2% on a year-over-year basis. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. Research analysts anticipate that Plexus Corp. will post 7.11 earnings per share for the current fiscal year.

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.