Fifth Third Bancorp Grows Stake in Plexus Corp. $PLXS

Fifth Third Bancorp boosted its holdings in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 6,710.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,825 shares of the technology company's stock after purchasing an additional 13,622 shares during the quarter. Fifth Third Bancorp owned about 0.05% of Plexus worth $2,800,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Covestor Ltd increased its holdings in Plexus by 207.7% in the 4th quarter. Covestor Ltd now owns 240 shares of the technology company's stock valued at $35,000 after acquiring an additional 162 shares during the last quarter. Allworth Financial LP grew its holdings in Plexus by 70.1% during the 3rd quarter. Allworth Financial LP now owns 250 shares of the technology company's stock valued at $36,000 after buying an additional 103 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Plexus during the 3rd quarter valued at approximately $72,000. Farther Finance Advisors LLC increased its stake in Plexus by 114.7% in the 4th quarter. Farther Finance Advisors LLC now owns 511 shares of the technology company's stock worth $75,000 after acquiring an additional 273 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Plexus by 583.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 574 shares of the technology company's stock worth $78,000 after acquiring an additional 490 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Plexus Stock Up 0.8%

Shares of Plexus stock opened at $252.59 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.54 and a debt-to-equity ratio of 0.06. The company has a market cap of $6.76 billion, a P/E ratio of 36.93 and a beta of 0.88. The firm's 50 day moving average price is $274.62 and its 200-day moving average price is $228.07. Plexus Corp. has a 52-week low of $115.35 and a 52-week high of $307.06.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its earnings results on Wednesday, April 29th. The technology company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.18. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Plexus had a net margin of 4.35% and a return on equity of 12.84%. Plexus's revenue was up 18.7% compared to the same quarter last year. During the same period last year, the firm earned $1.66 earnings per share. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. On average, sell-side analysts predict that Plexus Corp. will post 5.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Todd P. Kelsey sold 1,500 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $294.98, for a total transaction of $442,470.00. Following the sale, the chief executive officer owned 68,888 shares in the company, valued at approximately $20,320,582.24. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael J. Running sold 510 shares of the company's 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 in the company, valued at approximately $180,993.05. This trade represents a 43.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 20,481 shares of company stock worth $5,519,183 over the last quarter. Company insiders own 1.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PLXS. Zacks Research raised shares of Plexus from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Weiss Ratings upgraded shares of Plexus from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, July 6th. Raymond James Financial reaffirmed 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 increased their price target on Plexus from $285.00 to $310.00 and gave the stock a "buy" rating in a report on Monday, June 1st. Finally, Stifel Nicolaus lifted their price target on shares of Plexus from $280.00 to $330.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $246.67.

Plexus Profile

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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