Fiduciary Management Inc. WI Sells 6,806 Shares of Plexus Corp. $PLXS

Key Points

• Fiduciary Management Inc. has reduced its holdings in Plexus Corp. by 0.7%, selling 6,806 shares to hold a total of 937,951 shares, valued at approximately $120 million.
• Several institutional investors, including BNP Paribas and American Century Companies, have increased their stakes in Plexus, indicating strong institutional interest in the technology firm.
• Plexus reported a Q2 EPS of $1.90, exceeding analysts’ expectations, with a projected average EPS of 5.9 for the current year.

Fiduciary Management Inc. WI lowered its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 937,951 shares of the technology company's stock after selling 6,806 shares during the quarter. Fiduciary Management Inc. WI owned approximately 3.46% of Plexus worth $120,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Plexus by 11.6% during the fourth quarter. Barclays PLC now owns 54,425 shares of the technology company's stock worth $8,515,000 after buying an additional 5,639 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Plexus during the 4th quarter worth approximately $1,596,000. MetLife Investment Management LLC increased its holdings in Plexus by 2.2% during the 4th quarter. MetLife Investment Management LLC now owns 15,999 shares of the technology company's stock valued at $2,504,000 after purchasing an additional 337 shares in the last quarter. State of Tennessee Department of Treasury raised its position in Plexus by 33.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 13,602 shares of the technology company's stock valued at $2,128,000 after purchasing an additional 3,410 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Plexus by 214.4% in the fourth quarter. Hsbc Holdings PLC now owns 16,296 shares of the technology company's stock worth $2,549,000 after purchasing an additional 11,113 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Needham & Company LLC lowered their target price on Plexus from $162.00 to $158.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Stifel Nicolaus set a $140.00 price objective on shares of Plexus in a research report on Thursday, July 24th. Sidoti raised Plexus from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $135.00 to $150.00 in a report on Friday, July 25th. Benchmark reissued a "buy" rating and issued a $160.00 target price on shares of Plexus in a research note on Wednesday, June 4th. Finally, Wall Street Zen lowered Plexus from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $152.00.

Insider Transactions at Plexus

In other news, COO Oliver K. Mihm sold 2,102 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $130.43, for a total value of $274,163.86. Following the completion of the transaction, the chief operating officer owned 21,155 shares in the company, valued at $2,759,246.65. This represents a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patrick John Jermain sold 2,178 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $130.42, for a total transaction of $284,054.76. Following the sale, the chief financial officer owned 23,459 shares in the company, valued at approximately $3,059,522.78. The trade was a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,426 shares of company stock valued at $1,090,866. 1.76% of the stock is currently owned by insiders.

Plexus Trading Up 1.2%

Shares of PLXS stock traded up $1.65 on Wednesday, hitting $138.21. The stock had a trading volume of 31,133 shares, compared to its average volume of 178,296. Plexus Corp. has a twelve month low of $103.43 and a twelve month high of $172.89. The company has a current ratio of 1.58, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The firm has a market cap of $3.73 billion, a P/E ratio of 23.54 and a beta of 0.80. The company has a fifty day moving average price of $132.67 and a two-hundred day moving average price of $130.00.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.19. Plexus had a return on equity of 12.33% and a net margin of 4.04%.The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the previous year, the business posted $1.45 EPS. Plexus's revenue for the quarter was up 6.0% on a year-over-year basis. Plexus has set its Q4 2025 guidance at 1.820-1.970 EPS. As a group, analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.