Kennedy Capital Management LLC Increases Stake in Plexus Corp. $PLXS

Key Points

• Kennedy Capital Management increased its Plexus stake by 20.1% in Q4, buying 13,020 additional shares and bringing its holding to 77,828 shares worth about $11.44 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 94.45% of Plexus shares. Several other firms also added to or initiated positions during the quarter.
• Plexus reported strong quarterly results, posting EPS of $2.05 versus estimates of $1.87 and revenue of $1.16 billion, while analysts generally maintain a “Moderate Buy” view with an average price target of $238.33.

Kennedy Capital Management LLC grew its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 20.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 77,828 shares of the technology company's stock after buying an additional 13,020 shares during the quarter. Kennedy Capital Management LLC owned 0.29% of Plexus worth $11,441,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Barclays PLC raised its position in Plexus by 10.3% during the 4th quarter. Barclays PLC now owns 57,755 shares of the technology company's stock worth $8,490,000 after buying an additional 5,399 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Plexus by 13.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 916 shares of the technology company's stock worth $137,000 after purchasing an additional 110 shares during the period. SG Capital Management LLC acquired a new position in shares of Plexus during the 4th quarter worth $5,123,000. Alyeska Investment Group L.P. acquired a new position in shares of Plexus during the 4th quarter worth $2,247,000. Finally, State Street Corp grew its stake in shares of Plexus by 0.5% during the 4th quarter. State Street Corp now owns 1,030,035 shares of the technology company's stock worth $151,415,000 after purchasing an additional 5,128 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Buying and Selling at Plexus

In related 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 value of $138,806.70. Following the sale, the insider directly owned 665 shares of the company's stock, valued at approximately $180,993.05. This represents a 43.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victor (Pang Hau) Tan sold 3,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $271.23, for a total transaction of $813,690.00. Following the completion of the sale, the insider directly owned 10,457 shares in the company, valued at approximately $2,836,252.11. The trade was a 22.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 21,981 shares of company stock valued at $5,704,208 in the last quarter. Insiders own 1.78% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLXS. Raymond James Financial reaffirmed an "outperform" rating and set a $275.00 price target on shares of Plexus in a research note on Thursday, April 30th. Benchmark reaffirmed a "buy" rating and set a $220.00 price target on shares of Plexus in a research note on Monday, March 16th. Weiss Ratings cut shares of Plexus from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday. Stifel Nicolaus set a $280.00 price target on shares of Plexus in a research note on Tuesday, May 26th. Finally, Needham & Company LLC upped their price target on shares of Plexus from $285.00 to $310.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $238.33.

Plexus Price Performance

Shares of NASDAQ PLXS opened at $295.02 on Monday. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 43.13 and a beta of 0.89. Plexus Corp. has a 52 week low of $115.35 and a 52 week high of $299.00. The company's 50-day moving average price is $253.52 and its 200 day moving average price is $204.93. The company has a current ratio of 1.54, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $1.87 by $0.18. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. Plexus had a net margin of 4.35% and a return on equity of 12.84%. The firm's revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.66 EPS. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. As a group, research analysts forecast that Plexus Corp. will post 5.98 earnings per share for the current fiscal year.

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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