K.J. Harrison & Partners Inc Invests $2.10 Million in Plexus Corp. $PLXS

Key Points

• K.J. Harrison & Partners purchased 7,000 shares of Plexus worth approximately $2.1 million in the second quarter, while institutional investors collectively own 94.45% of the stock.
• Analysts remain broadly bullish, with Plexus carrying a consensus “Buy” rating and an average price target of $273; recent targets include $308 from Sidoti and $330 from Stifel.
• Plexus exceeded quarterly expectations, reporting $2.32 in EPS versus $2.13 expected and $1.30 billion in revenue, up 28.2% year over year. However, insiders have sold 9,510 shares worth about $2.63 million over the past three months.

K.J. Harrison & Partners Inc purchased a new stake in Plexus Corp. (NASDAQ:PLXS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,000 shares of the technology company's stock, valued at approximately $2,105,000.

Several other institutional investors have also made changes to their positions in the stock. Hodges Capital Management Inc. lifted its position in shares of Plexus by 47.7% during the 4th quarter. Hodges Capital Management Inc. now owns 17,950 shares of the technology company's stock valued at $2,639,000 after acquiring an additional 5,795 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Plexus in the first quarter worth $2,410,000. Jefferies Financial Group Inc. bought a new position in shares of Plexus in the fourth quarter worth $2,182,000. Walleye Capital LLC acquired a new position in Plexus in the second quarter valued at about $8,296,000. Finally, GSA Capital Partners LLP raised its stake in Plexus by 159.6% in the fourth quarter. GSA Capital Partners LLP now owns 14,638 shares of the technology company's stock valued at $2,152,000 after purchasing an additional 8,999 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PLXS has been the topic of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $310.00 target price on shares of Plexus in a report on Friday. Weiss Ratings downgraded shares of Plexus from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Zacks Research upgraded shares of Plexus from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Sidoti raised shares of Plexus from a "neutral" rating to a "buy" rating and set a $308.00 price objective on the stock in a research note on Friday, July 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Plexus from $280.00 to $330.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $273.00.

Plexus Price Performance

Shares of PLXS stock opened at $274.20 on Tuesday. The business has a fifty day simple moving average of $272.25 and a 200 day simple moving average of $241.48. The company has a market cap of $7.34 billion, a P/E ratio of 40.44 and a beta of 0.90. 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 $126.86 and a twelve month high of $307.06.

Plexus (NASDAQ:PLXS - Get Free Report) last released its earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.19. The firm had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $1.23 billion. Plexus had a return on equity of 12.46% and a net margin of 4.03%.The business's revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 earnings per share. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. On average, sell-side analysts forecast that Plexus Corp. will post 7.11 EPS for the current fiscal year.

Insider Activity at Plexus

In related news, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $294.98, for a total transaction of $442,470.00. Following the sale, the chief executive officer directly owned 68,888 shares of the company's stock, valued at approximately $20,320,582.24. The trade was a 2.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 that occurred on Friday, June 5th. The stock was 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 approximately $180,993.05. This represents a 43.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 9,510 shares of company stock valued at $2,625,182. 1.78% of the stock is owned by insiders.

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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