Neuberger Berman Group LLC Buys New Shares in Plexus Corp. $PLXS

Key Points

• Neuberger Berman Group LLC acquired a new position in Plexus Corp. worth approximately $261,000, purchasing 2,040 shares during the first quarter.
• A significant number of investors have recently increased their stakes in Plexus, with institutional investors and hedge funds now owning 94.45% of the company's stock.
• Plexus reported strong earnings results with $1.90 EPS for the quarter, surpassing analyst expectations of $1.71, and also noted a revenue increase of 6.0% year-over-year.

Neuberger Berman Group LLC acquired a new stake in Plexus Corp. (NASDAQ:PLXS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,040 shares of the technology company's stock, valued at approximately $261,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. HighTower Advisors LLC raised its position in shares of Plexus by 33.3% during the first quarter. HighTower Advisors LLC now owns 3,965 shares of the technology company's stock worth $508,000 after purchasing an additional 990 shares during the period. Public Sector Pension Investment Board raised its position in Plexus by 26.4% during the first quarter. Public Sector Pension Investment Board now owns 85,720 shares of the technology company's stock valued at $10,983,000 after buying an additional 17,926 shares during the period. Nuveen LLC acquired a new position in Plexus during the first quarter valued at $22,975,000. Invesco Ltd. increased its position in Plexus by 66.1% in the 1st quarter. Invesco Ltd. now owns 211,741 shares of the technology company's stock worth $27,130,000 after purchasing an additional 84,249 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Plexus by 139.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,139 shares of the technology company's stock worth $2,709,000 after purchasing an additional 12,318 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLXS has been the topic of several research reports. Needham & Company LLC dropped their target price on Plexus from $162.00 to $158.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Benchmark restated a "buy" rating and set a $160.00 target price on shares of Plexus in a research note on Wednesday, June 4th. Stifel Nicolaus set a $140.00 price target on Plexus in a report on Thursday, July 24th. Wall Street Zen cut Plexus from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Finally, Sidoti raised Plexus from a "neutral" rating to a "buy" rating and upped their price target for the company from $135.00 to $150.00 in a report on Friday, July 25th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $152.00.

Insiders Place Their Bets

In other Plexus news, COO Oliver K. Mihm sold 2,102 shares of Plexus 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 transaction, the chief operating officer directly owned 21,155 shares in the company, valued at approximately $2,759,246.65. The trade was a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Patrick John Jermain sold 2,178 shares of Plexus stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $130.42, for a total value of $284,054.76. Following the transaction, the chief financial officer owned 23,459 shares in the company, valued at approximately $3,059,522.78. This represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,484 shares of company stock worth $1,756,335 over the last three months. Insiders own 1.76% of the company's stock.

Plexus Trading Up 0.3%

Shares of NASDAQ PLXS traded up $0.4350 during midday trading on Thursday, hitting $129.1550. The stock had a trading volume of 17,352 shares, compared to its average volume of 179,086. The company's 50-day simple moving average is $132.35 and its 200 day simple moving average is $130.23. The firm has a market cap of $3.49 billion, a P/E ratio of 22.00 and a beta of 0.80. Plexus Corp. has a fifty-two week low of $103.43 and a fifty-two week high of $172.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.58 and a quick ratio of 0.74.

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

About Plexus

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.