Millennium Management LLC Purchases 104,904 Shares of Plexus Corp. $PLXS

Key Points

• Millennium Management LLC significantly increased its stake in Plexus Corp. by 85.1%, owning 228,116 shares valued at approximately $29.2 million as of its latest SEC filing.
• Insiders sold 14,356 shares of Plexus stock worth about $1.93 million over the last 90 days, indicating a decrease in their positions.
• Plexus Corp. recently reported an EPS of $1.90, exceeding analysts' estimates and showing a 6% year-over-year revenue increase to $1.02 billion for the last quarter.

Millennium Management LLC boosted its holdings in Plexus Corp. (NASDAQ:PLXS - Free Report) by 85.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,116 shares of the technology company's stock after acquiring an additional 104,904 shares during the quarter. Millennium Management LLC owned 0.84% of Plexus worth $29,229,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PLXS. Versant Capital Management Inc increased its position in shares of Plexus by 1,000.0% during the 1st quarter. Versant Capital Management Inc now owns 473 shares of the technology company's stock valued at $61,000 after purchasing an additional 430 shares during the period. TD Private Client Wealth LLC grew its holdings in shares of Plexus by 185.6% in the 1st quarter. TD Private Client Wealth LLC now owns 514 shares of the technology company's stock worth $66,000 after acquiring an additional 334 shares during the last quarter. Banque Transatlantique SA acquired a new position in shares of Plexus in the 1st quarter worth $71,000. N.E.W. Advisory Services LLC acquired a new position in shares of Plexus in the 1st quarter worth $87,000. Finally, Blue Trust Inc. grew its holdings in shares of Plexus by 49.2% during the first quarter. Blue Trust Inc. now owns 846 shares of the technology company's stock valued at $108,000 after buying an additional 279 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Plexus

In related news, CEO Todd P. Kelsey sold 1,500 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $134.54, for a total transaction of $201,810.00. Following the sale, the chief executive officer owned 70,714 shares of the company's stock, valued at approximately $9,513,861.56. This trade represents a 2.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 1,576 shares of Plexus stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $137.78, for a total value of $217,141.28. Following the completion of the sale, the chief accounting officer directly owned 24,495 shares in the company, valued at $3,374,921.10. This represents a 6.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,356 shares of company stock worth $1,926,890 in the last three months. 1.76% of the stock is owned by insiders.

Plexus Price Performance

Shares of PLXS traded down $2.72 during mid-day trading on Friday, reaching $138.06. The company had a trading volume of 184,207 shares, compared to its average volume of 120,722. The company has a market capitalization of $3.73 billion, a P/E ratio of 23.52 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.58 and a quick ratio of 0.74. The company's 50-day moving average is $133.29 and its 200-day moving average is $129.90. Plexus Corp. has a twelve month low of $103.43 and a twelve month high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.19. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Plexus had a return on equity of 12.33% and a net margin of 4.04%.The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.45 EPS. Plexus has set its Q4 2025 guidance at 1.820-1.970 EPS. On average, equities analysts anticipate that Plexus Corp. will post 5.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PLXS. 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 report on Friday, July 25th. Wall Street Zen cut Plexus from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Stifel Nicolaus set a $140.00 price objective on Plexus in a research report on Thursday, July 24th. Benchmark reaffirmed a "buy" rating and issued a $160.00 price target on shares of Plexus in a research report on Wednesday, June 4th. Finally, Needham & Company LLC reduced their price target on Plexus from $162.00 to $158.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $152.00.

Plexus Profile

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.