BlackRock Inc. Invests $1.31 Billion in Plexus Corp. $PLXS

BlackRock Inc. purchased a new stake in Plexus Corp. (NASDAQ:PLXS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,362,360 shares of the technology company's stock, valued at approximately $1,311,631,000. BlackRock Inc. owned approximately 16.30% of Plexus as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PLXS. Victory Capital Management Inc. grew its position in shares of 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 purchasing an additional 197,283 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Plexus during the 2nd quarter valued at about $55,525,000. Emerald Advisers LLC acquired a new position in shares of Plexus during the 1st quarter valued at about $33,729,000. MetLife Investment Management LLC grew its holdings in shares of Plexus by 713.3% in the fourth quarter. MetLife Investment Management LLC now owns 126,971 shares of the technology company's stock valued at $18,665,000 after purchasing an additional 111,360 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Plexus during the first quarter worth about $20,715,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Plexus Trading Down 1.0%

PLXS opened at $241.91 on Friday. Plexus Corp. has a 52 week low of $126.86 and a 52 week high of $307.06. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $270.14 and a 200-day simple moving average of $242.61. The firm has a market cap of $6.47 billion, a P/E ratio of 35.68 and a beta of 0.90.

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

Insider Buying and Selling

In other Plexus news, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $250.98, for a total transaction of $376,470.00. Following the sale, the chief executive officer directly owned 65,888 shares in the company, valued at $16,536,570.24. This represents a 2.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock in a transaction on Friday, June 5th. The shares were sold at an average price of $272.17, for a total value of $138,806.70. Following the completion of the sale, the insider owned 665 shares in the company, valued at approximately $180,993.05. The trade was 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 a total of 9,510 shares of company stock valued at $2,622,497 in the last ninety days. Company insiders own 1.78% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on PLXS. Zacks Research raised shares of Plexus from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Raymond James Financial reiterated an "outperform" rating and issued a $275.00 price objective on shares of Plexus in a research report on Thursday, April 30th. Sidoti raised Plexus from a "neutral" rating to a "buy" rating and set a $308.00 target price for the company in a research note on Friday, July 31st. Stifel Nicolaus lifted 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $310.00 price target on shares of Plexus in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $273.00.

About Plexus

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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