Amundi Sells 23,589 Shares of Plexus Corp. $PLXS

Key Points

• Amundi cut its Plexus stake by 75.4% in the second quarter, selling 23,589 shares and retaining 7,705 shares valued at approximately $2.3 million. Institutional investors collectively own 94.45% of the company.
• Plexus reported stronger-than-expected quarterly results, with EPS of $2.32 versus the $2.13 consensus estimate and revenue of $1.30 billion, up 28.2% year over year.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $273. However, insiders sold 7,500 shares worth roughly $2.0 million over the past three months.

Amundi lessened its holdings in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 75.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,705 shares of the technology company's stock after selling 23,589 shares during the quarter. Amundi's holdings in Plexus were worth $2,317,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC raised its holdings in shares of Plexus by 103.1% during the 1st quarter. AQR Capital Management LLC now owns 8,384 shares of the technology company's stock worth $1,074,000 after acquiring an additional 4,255 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Plexus by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,971 shares of the technology company's stock valued at $2,046,000 after purchasing an additional 705 shares during the period. United Services Automobile Association purchased a new stake in Plexus during the first quarter valued at approximately $218,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Plexus by 12.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,584 shares of the technology company's stock worth $10,197,000 after purchasing an additional 9,078 shares during the period. Finally, Cetera Investment Advisers bought a new stake in Plexus in the second quarter worth $309,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Plexus

In related news, Director Michael V. Schrock sold 4,000 shares of the stock in a transaction that occurred on 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 transaction, the director owned 40,329 shares in the company, valued at approximately $11,090,475. This represents a 9.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kelsey sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $294.98, for a total transaction of $442,470.00. Following the transaction, the chief executive officer directly owned 68,888 shares of the company's stock, valued at $20,320,582.24. This represents a 2.13% 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 sold a total of 7,500 shares of company stock worth $2,039,375 over the last three months. 1.78% of the stock is currently owned by insiders.

Plexus Price Performance

Shares of NASDAQ PLXS opened at $255.34 on Monday. 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 Corp. has a fifty-two week low of $132.03 and a fifty-two week high of $307.06. The company has a market cap of $6.83 billion, a PE ratio of 37.66 and a beta of 0.89. The business has a 50-day simple moving average of $254.82 and a two-hundred day simple moving average of $247.42.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the company posted $1.64 earnings per share. The business's quarterly revenue was up 28.2% on a year-over-year basis. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. As a group, equities analysts expect that Plexus Corp. will post 7.11 EPS for the current fiscal year.

Analysts Set New Price Targets

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 report on Monday, June 22nd. Needham & Company LLC restated a "buy" rating and set 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. Weiss Ratings downgraded Plexus from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. Finally, Sidoti raised shares of Plexus from a "neutral" rating to a "buy" rating and set a $308.00 price objective for the company in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $273.00.

About Plexus

Plexus Corp. is a global electronics manufacturing services company that designs, manufactures and services products for original equipment manufacturers. The company supports customers across the product life cycle, from product development and engineering to supply chain management, assembly, testing, fulfillment and aftermarket services.

Plexus provides solutions for industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.

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