Algert Global LLC Decreases Holdings in Plexus Corp. $PLXS

Key Points

• Algert Global LLC reduced its stake in Plexus Corp. by 71.1% during the first quarter, now holding approximately 29,266 shares valued at $3.75 million.
• Plexus Corp. reported an earnings per share (EPS) of $1.90 for the last quarter, exceeding analysts' expectations of $1.71 and marking a 6% year-over-year revenue increase.
• Multiple brokerages have recently adjusted their price targets for Plexus shares, with current ratings averaging "Moderate Buy" and a price target consensus of $152.00.

Algert Global LLC lowered its stake in Plexus Corp. (NASDAQ:PLXS - Free Report) by 71.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,266 shares of the technology company's stock after selling 72,070 shares during the quarter. Algert Global LLC owned approximately 0.11% of Plexus worth $3,750,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. American Century Companies Inc. lifted its stake in Plexus by 24.7% in the 1st quarter. American Century Companies Inc. now owns 678,222 shares of the technology company's stock valued at $86,901,000 after buying an additional 134,205 shares in the last quarter. Fox Run Management L.L.C. raised its holdings in Plexus by 7.2% in the 1st quarter. Fox Run Management L.L.C. now owns 2,017 shares of the technology company's stock valued at $258,000 after acquiring an additional 135 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in Plexus in the 1st quarter valued at $261,000. HighTower Advisors LLC raised its holdings in Plexus by 33.3% in the 1st quarter. HighTower Advisors LLC now owns 3,965 shares of the technology company's stock valued at $508,000 after acquiring an additional 990 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Plexus by 26.4% in the 1st quarter. Public Sector Pension Investment Board now owns 85,720 shares of the technology company's stock valued at $10,983,000 after acquiring an additional 17,926 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Plexus Trading Down 0.2%

Shares of PLXS stock traded down $0.22 on Monday, reaching $137.04. 134,156 shares of the stock were exchanged, compared to its average volume of 159,419. The stock has a market cap of $3.70 billion, a P/E ratio of 23.35 and a beta of 0.80. The company has a quick ratio of 0.74, a current ratio of 1.58 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $132.56 and a two-hundred day moving average of $129.96. Plexus Corp. has a 1-year low of $103.43 and a 1-year high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.19. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Plexus had a return on equity of 12.33% and a net margin of 4.04%.The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.45 EPS. Plexus has set its Q4 2025 guidance at 1.820-1.970 EPS. On average, research analysts anticipate that Plexus Corp. will post 5.9 EPS for the current year.

Insider Activity

In related news, insider Michael J. Running sold 646 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $130.05, for a total transaction of $84,012.30. Following the completion of the sale, the insider directly owned 630 shares of the company's stock, valued at approximately $81,931.50. This represents a 50.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Marie Rapp sold 500 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $130.77, for a total transaction of $65,385.00. Following the sale, the director directly owned 9,365 shares of the company's stock, valued at approximately $1,224,661.05. This trade represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,484 shares of company stock worth $1,626,335 in the last quarter. Insiders own 1.76% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Stifel Nicolaus set a $140.00 price target on Plexus in a report on Thursday, July 24th. Sidoti upgraded Plexus from a "neutral" rating to a "buy" rating and boosted their price target for the company from $135.00 to $150.00 in a report on Friday, July 25th. Needham & Company LLC cut their price target on Plexus from $162.00 to $158.00 and set a "buy" rating for the company in a report on Thursday, July 24th. Benchmark reiterated a "buy" rating and issued a $160.00 price target on shares of Plexus in a report on Wednesday, June 4th. Finally, Wall Street Zen downgraded Plexus from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Plexus presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.00.

About Plexus

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.