Bank of New York Mellon Corp Buys Shares of 184,672 Plexus Corp. $PLXS

Key Points

• Bank of New York Mellon purchased 184,672 Plexus shares worth approximately $55.5 million, taking a 0.69% stake. Institutional investors collectively own 94.45% of the company.
• Plexus beat quarterly expectations, reporting $2.32 in EPS versus the $2.13 consensus and $1.30 billion in revenue, up 28.2% year over year.
• Insiders sold 8,510 shares worth $2.35 million over the past quarter, while analysts maintain a consensus “Buy” rating with an average price target of $273.

Bank of New York Mellon Corp purchased a new stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 184,672 shares of the technology company's stock, valued at approximately $55,525,000. Bank of New York Mellon Corp owned 0.69% of Plexus at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Hodges Capital Management Inc. lifted its holdings in shares of Plexus by 47.7% in the 4th quarter. Hodges Capital Management Inc. now owns 17,950 shares of the technology company's stock worth $2,639,000 after acquiring an additional 5,795 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Plexus in the first quarter worth approximately $2,410,000. Jefferies Financial Group Inc. purchased a new position in shares of Plexus during the fourth quarter valued at $2,182,000. Walleye Capital LLC purchased a new stake in shares of Plexus in the 2nd quarter worth approximately $8,296,000. Finally, GSA Capital Partners LLP boosted its position in Plexus by 159.6% during the 4th quarter. GSA Capital Partners LLP now owns 14,638 shares of the technology company's stock valued at $2,152,000 after acquiring an additional 8,999 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Insider Activity at Plexus

In other news, CEO Todd P. Kelsey sold 1,500 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $294.98, for a total value of $442,470.00. Following the completion of the transaction, the chief executive officer owned 68,888 shares in the company, valued at approximately $20,320,582.24. This represents a 2.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael J. Running sold 510 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $272.17, for a total transaction of $138,806.70. Following the completion of the sale, the insider directly owned 665 shares of the company's stock, valued at approximately $180,993.05. This trade represents a 43.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,510 shares of company stock valued at $2,347,747 over the last quarter. 1.78% of the stock is owned by insiders.

Plexus Price Performance

Plexus stock opened at $244.52 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. Plexus Corp. has a 52-week low of $132.03 and a 52-week high of $307.06. The firm has a market cap of $6.54 billion, a PE ratio of 36.06 and a beta of 0.90. The company's 50 day moving average is $265.90 and its two-hundred day moving average is $243.72.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.19. The business had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.23 billion. Plexus had a return on equity of 12.46% and a net margin of 4.03%.The company's revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period last year, the firm earned $1.64 earnings per share. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. On average, research analysts expect that Plexus Corp. will post 7.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on PLXS. Weiss Ratings downgraded Plexus from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, August 11th. Needham & Company LLC reiterated a "buy" rating and issued a $310.00 price objective on shares of Plexus in a research report on Friday, August 14th. Stifel Nicolaus increased 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. Zacks Research upgraded shares of Plexus from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Plexus from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from 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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