Assenagon Asset Management S.A. Purchases 43,886 Shares of Plexus Corp. $PLXS

Key Points

• Assenagon Asset Management S.A. increased its stake in Plexus Corp. by 70.1% in the second quarter, acquiring an additional 43,886 shares to reach a total of 106,480 shares worth approximately $14.4 million.
• Plexus insiders have recently sold shares, with COO Oliver K. Mihm and CEO Todd P. Kelsey selling over 3,602 shares combined, indicating a decrease in their ownership stakes.
• Analysts have given Plexus a consensus rating of "Moderate Buy", with an average price target of $155.60, reflecting positive outlooks despite some adjustments by various analysts on their individual price targets.

Assenagon Asset Management S.A. lifted its holdings in Plexus Corp. (NASDAQ:PLXS - Free Report) by 70.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,480 shares of the technology company's stock after acquiring an additional 43,886 shares during the period. Assenagon Asset Management S.A. owned approximately 0.39% of Plexus worth $14,408,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new stake in Plexus in the second quarter worth approximately $254,000. Inspire Investing LLC increased its holdings in Plexus by 4.8% in the first quarter. Inspire Investing LLC now owns 2,682 shares of the technology company's stock worth $344,000 after purchasing an additional 123 shares in the last quarter. Strs Ohio bought a new stake in shares of Plexus in the 1st quarter valued at $1,089,000. Acadian Asset Management LLC increased its stake in shares of Plexus by 666.3% in the 1st quarter. Acadian Asset Management LLC now owns 14,660 shares of the technology company's stock valued at $1,876,000 after acquiring an additional 12,747 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of Plexus by 34.2% in the 1st quarter. Intech Investment Management LLC now owns 14,823 shares of the technology company's stock valued at $1,899,000 after acquiring an additional 3,779 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Insider Activity

In other Plexus news, COO Oliver K. Mihm sold 2,102 shares of Plexus stock in a transaction on Friday, August 15th. The stock was sold at an average price of $130.43, for a total transaction of $274,163.86. Following the completion of the transaction, the chief operating officer owned 21,155 shares in the company, valued at approximately $2,759,246.65. The trade was a 9.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $134.54, for a total value of $201,810.00. Following the completion of the transaction, the chief executive officer directly owned 70,714 shares of the company's stock, valued at approximately $9,513,861.56. This represents a 2.08% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,356 shares of company stock valued at $1,926,890. 1.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PLXS has been the subject of several research analyst reports. Stifel Nicolaus set a $140.00 price target on shares of Plexus in a research note on Thursday, July 24th. Williams Trading set a $165.00 price target on shares of Plexus in a research note on Monday. Wall Street Zen lowered shares of Plexus from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Sidoti raised Plexus from a "neutral" rating to a "buy" rating and upped their target price for the company from $135.00 to $150.00 in a report on Friday, July 25th. Finally, Needham & Company LLC reduced their target price on shares of Plexus from $162.00 to $158.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $155.60.

Plexus Stock Performance

Shares of PLXS stock opened at $143.62 on Tuesday. The stock has a fifty day moving average of $133.86 and a 200 day moving average of $130.45. Plexus Corp. has a 52 week low of $103.43 and a 52 week high of $172.89. 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 market capitalization of $3.88 billion, a price-to-earnings ratio of 24.47 and a beta of 0.82.

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

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.

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