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

Key Points

• Readystate Asset Management acquired 9,703 Plexus shares worth approximately $2.9 million during the second quarter. Institutional investors collectively own 94.45% of PLXS.
• Plexus reported quarterly EPS of $2.32, beating estimates of $2.13, while revenue rose 28.2% year over year to $1.30 billion.
• Analysts maintain a broadly positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $273; recent targets range as high as $330.

Readystate Asset Management LP purchased a new stake in Plexus Corp. (NASDAQ:PLXS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,703 shares of the technology company's stock, valued at approximately $2,917,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. acquired a new position in Plexus during the 2nd quarter worth approximately $1,311,631,000. Bank of America Corp DE bought a new position in Plexus in the second quarter worth approximately $60,281,000. Victory Capital Management Inc. grew its stake in Plexus by 130.0% in the fourth quarter. Victory Capital Management Inc. now owns 349,057 shares of the technology company's stock valued at $51,311,000 after acquiring an additional 197,283 shares during the period. Bank of New York Mellon Corp acquired a new stake in Plexus in 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 currently owned by institutional investors.

Plexus Stock Performance

NASDAQ PLXS opened at $245.98 on Monday. The firm has a market capitalization of $6.58 billion, a P/E ratio of 36.28 and a beta of 0.89. The business has a fifty day simple moving average of $258.47 and a 200 day simple moving average of $245.59. Plexus Corp. has a 12 month low of $132.03 and a 12 month high of $307.06. The company has a current ratio of 1.49, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.19. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm earned $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. On average, analysts predict that Plexus Corp. will post 7.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Plexus news, Director Michael V. Schrock sold 4,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $275.00, for a total value of $1,100,000.00. Following the completion of the sale, the director directly owned 40,329 shares of the company's stock, valued at approximately $11,090,475. This represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Rapp sold 500 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $240.87, for a total transaction of $120,435.00. Following the completion of the sale, the director owned 7,535 shares of the company's stock, valued at approximately $1,814,955.45. This trade represents a 6.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 7,500 shares of company stock worth $2,039,375. 1.78% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PLXS shares. Weiss Ratings cut Plexus from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Sidoti upgraded shares of Plexus from a "neutral" rating to a "buy" rating and set a $308.00 price objective on the stock in a report on Friday, July 31st. Zacks Research raised shares of Plexus from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Needham & Company LLC reiterated a "buy" rating and set a $310.00 price objective on shares of Plexus in a report on Friday, August 14th. Finally, Stifel Nicolaus boosted their target price on shares of Plexus from $280.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. 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 MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $273.00.

Plexus 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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