California State Teachers Retirement System Has $2.83 Billion Holdings in Plexus Corp. $PLXS

Key Points

• California State Teachers Retirement System increased its Plexus stake by 29,890.4% to 9.41 million shares, representing approximately 35.18% of the company and a reported value of $2.83 billion.
• Plexus beat quarterly expectations with EPS of $2.32 versus the $2.13 consensus and revenue of $1.30 billion, up 28.2% year over year. The company issued fourth-quarter 2026 EPS guidance of $2.47–$2.63.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $273, although insiders sold 7,500 shares worth about $2.04 million over the past three months.

California State Teachers Retirement System lifted its position in Plexus Corp. (NASDAQ:PLXS - Free Report) by 29,890.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,414,880 shares of the technology company's stock after acquiring an additional 9,383,487 shares during the quarter. California State Teachers Retirement System owned approximately 35.18% of Plexus worth $2,830,772,000 as of its most recent filing with the SEC.

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

Insider Activity

In related news, Director Karen Rapp sold 500 shares of the firm's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $240.87, for a total transaction of $120,435.00. Following the transaction, the director owned 7,535 shares of the company's stock, valued at approximately $1,814,955.45. This trade represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction 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 completion of the sale, the chief executive officer directly owned 65,888 shares of the company's stock, valued at approximately $16,536,570.24. The trade was a 2.23% decrease in their position. 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 in the last three months. 1.78% of the stock is owned by insiders.

Plexus Trading Down 0.5%

NASDAQ PLXS opened at $246.94 on Friday. The company has a current ratio of 1.49, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. Plexus Corp. has a 1-year low of $132.03 and a 1-year high of $307.06. The firm's fifty day simple moving average is $255.22 and its 200-day simple moving average is $247.01. The company has a market capitalization of $6.61 billion, a PE ratio of 36.42 and a beta of 0.89.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 earnings per share (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 firm had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The business'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. As a group, sell-side analysts anticipate that Plexus Corp. will post 7.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PLXS shares. Zacks Research raised Plexus from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Stifel Nicolaus lifted their target price on Plexus from $280.00 to $330.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $310.00 target price on shares of Plexus in a report on Friday, August 14th. Weiss Ratings downgraded Plexus from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Finally, Sidoti raised shares of Plexus from a "neutral" rating to a "buy" rating and set a $308.00 price target for the company in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $273.00.

Plexus Company Profile

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.

Want to see what other hedge funds are holding PLXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plexus Corp. (NASDAQ:PLXS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.