Invesco Ltd. Grows Stock Position in Plexus Corp. $PLXS

Key Points

• Invesco Ltd. has raised its stake in Plexus Corp. by 66.1% during the first quarter, owning approximately 211,741 shares valued at $27.1 million.
• Plexus Corp. reported earnings of $1.90 per share for the last quarter, exceeding expectations of $1.71, with revenue unchanged at $1.02 billion.
• Institutional investors own a significant 94.45% of Plexus Corp., indicating strong interest from hedge funds and large financial entities.

Invesco Ltd. boosted its stake in Plexus Corp. (NASDAQ:PLXS - Free Report) by 66.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,741 shares of the technology company's stock after acquiring an additional 84,249 shares during the period. Invesco Ltd. owned 0.78% of Plexus worth $27,130,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PLXS. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Plexus by 139.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,139 shares of the technology company's stock worth $2,709,000 after purchasing an additional 12,318 shares during the period. Deutsche Bank AG lifted its holdings in Plexus by 22.8% in the first quarter. Deutsche Bank AG now owns 47,997 shares of the technology company's stock worth $6,150,000 after buying an additional 8,921 shares during the period. R Squared Ltd boosted its position in Plexus by 458.6% during the 1st quarter. R Squared Ltd now owns 1,620 shares of the technology company's stock valued at $208,000 after acquiring an additional 1,330 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Plexus by 14.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,287 shares of the technology company's stock worth $293,000 after acquiring an additional 284 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in shares of Plexus in the 1st quarter worth approximately $399,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Plexus

In other Plexus news, COO Oliver K. Mihm sold 2,102 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $130.43, for a total transaction of $274,163.86. Following the completion of the sale, the chief operating officer directly owned 21,155 shares in the company, valued at approximately $2,759,246.65. The trade was a 9.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $125.63, for a total value of $188,445.00. Following the transaction, the chief executive officer directly owned 72,214 shares in the company, valued at $9,072,244.82. The trade was a 2.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,484 shares of company stock valued at $1,626,335. Company insiders own 1.76% of the company's stock.

Plexus Stock Up 5.1%

PLXS stock traded up $6.71 during midday trading on Friday, hitting $137.26. The company's stock had a trading volume of 151,618 shares, compared to its average volume of 180,705. The firm's 50-day moving average is $132.44 and its 200-day moving average is $130.15. The company has a current ratio of 1.58, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. Plexus Corp. has a 12 month low of $103.43 and a 12 month high of $172.89. The company has a market cap of $3.70 billion, a PE ratio of 23.38 and a beta of 0.80.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $1.90 earnings per share for the quarter, topping 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 firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the previous year, the business earned $1.45 earnings per share. The company's revenue was up 6.0% on a year-over-year basis. Plexus has set its Q4 2025 guidance at 1.820-1.970 EPS. On average, equities research analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Sidoti upgraded Plexus from a "neutral" rating to a "buy" rating and lifted their price target for the company from $135.00 to $150.00 in a research report on Friday, July 25th. Needham & Company LLC dropped their target price on shares of Plexus from $162.00 to $158.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Benchmark reaffirmed a "buy" rating and issued a $160.00 target price on shares of Plexus in a research report on Wednesday, June 4th. Wall Street Zen cut shares of Plexus from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, Stifel Nicolaus set a $140.00 price objective on shares of Plexus in a report on Thursday, July 24th. Three equities research 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, Plexus has a consensus rating of "Moderate Buy" and a consensus price target of $152.00.

About Plexus

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.