Millennium Management LLC Increases Stock Position in 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 lifted its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 85.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 228,116 shares of the technology company's stock after purchasing an additional 104,904 shares during the period. Millennium Management LLC owned about 0.84% of Plexus worth $29,229,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Plexus by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,971 shares of the technology company's stock worth $2,046,000 after purchasing an additional 705 shares during the last quarter. Banque Transatlantique SA acquired a new stake in Plexus during the 1st quarter worth $71,000. AQR Capital Management LLC raised its stake in Plexus by 103.1% during the 1st quarter. AQR Capital Management LLC now owns 8,384 shares of the technology company's stock worth $1,074,000 after acquiring an additional 4,255 shares in the last quarter. Amundi raised its stake in Plexus by 3.0% during the 1st quarter. Amundi now owns 14,422 shares of the technology company's stock worth $1,848,000 after acquiring an additional 422 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Plexus during the 1st quarter worth $10,458,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Todd P. Kelsey sold 1,500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were 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. The trade was a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Oliver K. Mihm sold 2,102 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $130.43, for a total transaction of $274,163.86. Following the sale, the chief operating officer directly owned 21,155 shares in the company, valued at approximately $2,759,246.65. This represents a 9.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,356 shares of company stock valued at $1,926,890 in the last quarter. Insiders own 1.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of Plexus in a research note on Wednesday, June 4th. Stifel Nicolaus set a $140.00 price target on shares of Plexus in a research note on Thursday, July 24th. Sidoti upgraded shares of Plexus from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $135.00 to $150.00 in a research note on Friday, July 25th. Wall Street Zen lowered shares of Plexus from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Finally, Needham & Company LLC dropped their price objective on shares of Plexus from $162.00 to $158.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Plexus has an average rating of "Moderate Buy" and a consensus target price of $152.00.

Plexus Stock Performance

Shares of Plexus stock traded up $0.77 on Wednesday, reaching $138.39. 15,244 shares of the stock were exchanged, compared to its average volume of 174,793. Plexus Corp. has a 1-year low of $103.43 and a 1-year high of $172.89. The company has a current ratio of 1.58, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average price of $133.33 and a two-hundred day moving average price of $129.99. The firm has a market capitalization of $3.74 billion, a PE ratio of 23.57 and a beta of 0.82.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.19. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Plexus had a net margin of 4.04% and a return on equity of 12.33%. The firm's revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.45 earnings per share. Plexus has set its Q4 2025 guidance at 1.820-1.970 EPS. As a group, research analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Plexus Company 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.