Louisiana State Employees Retirement System Invests $2.41 Million in Plexus Corp. $PLXS

Key Points

• Louisiana State Employees Retirement System disclosed a new first-quarter stake in Plexus Corp., buying 11,900 shares worth about $2.41 million.
• Plexus reported stronger-than-expected quarterly results, with EPS of $2.05 beating estimates and revenue of $1.16 billion, up 18.7% year over year.
• Despite the stock trading near its 52-week high, analysts remain mixed but generally positive, with several recent price-target increases and an overall Moderate Buy rating.

Louisiana State Employees Retirement System purchased a new stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,900 shares of the technology company's stock, valued at approximately $2,410,000.

Other hedge funds have also made changes to their positions in the company. Covestor Ltd boosted its stake in Plexus by 207.7% in the 4th quarter. Covestor Ltd now owns 240 shares of the technology company's stock worth $35,000 after purchasing an additional 162 shares during the period. Allworth Financial LP raised its stake 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 purchasing an additional 103 shares during the period. Johnson Financial Group Inc. acquired a new stake in Plexus during the 3rd quarter valued at $72,000. Farther Finance Advisors LLC lifted its holdings in shares of Plexus by 114.7% in the fourth quarter. Farther Finance Advisors LLC now owns 511 shares of the technology company's stock valued at $75,000 after purchasing an additional 273 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Plexus by 583.3% in the second quarter. EverSource Wealth Advisors LLC now owns 574 shares of the technology company's stock valued at $78,000 after purchasing an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Buying and Selling

In other news, EVP Angelo Michael Ninivaggi, Jr. sold 3,270 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $264.75, for a total transaction of $865,732.50. Following the transaction, the executive vice president owned 16,266 shares of the company's stock, valued at approximately $4,306,423.50. This represents a 16.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Victor (Pang Hau) Tan sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $271.23, for a total value of $813,690.00. Following the completion of the transaction, the insider directly owned 10,457 shares in the company, valued at $2,836,252.11. The trade was a 22.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 21,981 shares of company stock worth $5,855,318. Insiders own 1.78% of the company's stock.

Plexus Stock Up 0.1%

PLXS stock opened at $287.80 on Tuesday. The firm has a market cap of $7.70 billion, a PE ratio of 42.08 and a beta of 0.89. Plexus Corp. has a 1 year low of $115.35 and a 1 year high of $307.06. The company has a fifty day simple moving average of $270.15 and a 200 day simple moving average of $216.29. 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 posted its earnings results on Wednesday, April 29th. The technology company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.87 by $0.18. Plexus had a net margin of 4.35% and a return on equity of 12.84%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business posted $1.66 earnings per share. The business's quarterly revenue was up 18.7% on a year-over-year basis. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. Sell-side analysts anticipate that Plexus Corp. will post 5.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PLXS. Stifel Nicolaus lifted their price target on Plexus from $280.00 to $330.00 and gave the company a "buy" rating in a report on Monday, June 22nd. Zacks Research downgraded Plexus from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 20th. Needham & Company LLC raised their price objective on Plexus from $285.00 to $310.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. Weiss Ratings cut Plexus from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, June 11th. Finally, Benchmark reiterated a "buy" rating and issued a $220.00 target price on shares of Plexus in a report on Monday, March 16th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Plexus 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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