Deutsche Bank AG Buys Shares of 30,495 Plexus Corp. $PLXS

Key Points

• Deutsche Bank initiated a Plexus position by purchasing 30,495 shares worth approximately $9.17 million, while institutional investors collectively own 94.45% of the company.
• Plexus exceeded quarterly expectations, reporting $2.32 in EPS versus the $2.13 consensus and $1.30 billion in revenue, up 28.2% year over year. The company issued fourth-quarter EPS guidance of $2.47–$2.63.
• Analysts maintain a bullish outlook, with the stock receiving an average “Buy” rating and a $273 price target. Meanwhile, insiders have sold 9,510 shares worth approximately $2.62 million over the past 90 days.

Deutsche Bank AG purchased a new position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 30,495 shares of the technology company's stock, valued at approximately $9,169,000. Deutsche Bank AG owned about 0.11% of Plexus as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Plexus by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,373,457 shares of the technology company's stock worth $201,903,000 after buying an additional 7,051 shares during the period. State Street Corp raised its stake in Plexus by 2.3% during the second quarter. State Street Corp now owns 1,059,501 shares of the technology company's stock worth $143,361,000 after buying an additional 24,115 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Plexus by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 672,614 shares of the technology company's stock valued at $98,890,000 after buying an additional 4,054 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Plexus by 5.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 446,705 shares of the technology company's stock valued at $65,666,000 after buying an additional 24,441 shares during the period. Finally, Nuveen LLC lifted its holdings in Plexus by 12.2% in the fourth quarter. Nuveen LLC now owns 390,998 shares of the technology company's stock valued at $57,477,000 after buying an additional 42,501 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Plexus Stock Performance

NASDAQ:PLXS opened at $240.14 on Monday. 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 twelve month low of $131.37 and a twelve month high of $307.06. The company has a fifty day moving average of $269.04 and a 200-day moving average of $242.86. The firm has a market capitalization of $6.43 billion, a P/E ratio of 35.42 and a beta of 0.90.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.19. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.23 billion. Plexus had a net margin of 4.03% and a return on equity of 12.46%. Plexus's revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 earnings per share. 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 EPS for the current year.

Insider Activity

In other news, insider Michael J. Running sold 510 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $272.17, for a total transaction of $138,806.70. Following the transaction, the insider owned 665 shares of the company's stock, valued at $180,993.05. This represents a 43.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael V. Schrock sold 4,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $275.00, for a total value of $1,100,000.00. Following the completion of the sale, the director owned 40,329 shares of the company's stock, valued at approximately $11,090,475. This represents a 9.02% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 9,510 shares of company stock worth $2,622,497. Company insiders own 1.78% of the company's stock.

Wall Street Analysts Forecast Growth

PLXS has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Plexus from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Zacks Research raised Plexus from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Raymond James Financial reissued an "outperform" rating and issued a $275.00 price objective on shares of Plexus in a research note on Thursday, April 30th. Needham & Company LLC restated a "buy" rating and set a $310.00 target price on shares of Plexus in a research report on Friday, August 14th. Finally, 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. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target 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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