Plexus Corp. $PLXS Stake Lowered by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 0.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,313 shares of the technology company's stock after selling 80 shares during the quarter. California State Teachers Retirement System owned 0.12% of Plexus worth $9,414,880 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PLXS. BlackRock Inc. acquired a new position in Plexus during the second quarter valued at approximately $1,311,631,000. Bank of America Corp DE bought a new position in Plexus during the 2nd quarter valued at approximately $60,281,000. Bank of New York Mellon Corp purchased a new position in shares of Plexus in the 2nd quarter worth about $55,525,000. Emerald Advisers LLC purchased a new position in shares of Plexus during the 1st quarter worth $33,729,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Plexus in the second quarter worth about $35,755,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Plexus Stock Performance

Shares of NASDAQ:PLXS traded down $2.08 during midday trading on Tuesday, hitting $237.55. The company had a trading volume of 123,700 shares, compared to its average volume of 319,336. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.49 and a quick ratio of 0.72. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 35.10 and a beta of 0.89. Plexus Corp. has a 12-month low of $132.03 and a 12-month high of $307.06. The company has a fifty day moving average of $254.11 and a two-hundred day moving average of $247.67.

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

Wall Street Analyst Weigh In

PLXS has been the subject of several recent analyst reports. Zacks Research raised shares of Plexus from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Weiss Ratings cut shares of Plexus from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, September 9th. Sidoti raised Plexus from a "neutral" rating to a "buy" rating and set a $308.00 target price for the company in a research report on Friday, July 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $310.00 target price on shares of Plexus in a report on Friday, August 14th. Finally, Stifel Nicolaus lifted their price objective on shares of Plexus from $280.00 to $330.00 and gave the company a "buy" rating in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $273.00.

Insider Buying and Selling

In related news, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $294.98, for a total transaction of $442,470.00. Following the completion of the transaction, the chief executive officer directly owned 68,888 shares of the company's stock, valued at $20,320,582.24. This trade represents a 2.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Rapp sold 500 shares of the business'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 value of $120,435.00. Following the completion of the sale, the director owned 7,535 shares in the company, valued at $1,814,955.45. The trade was a 6.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 7,500 shares of company stock valued at $2,039,375. Corporate insiders own 1.78% of the company's stock.

Plexus 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.

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