Oppenheimer Asset Management Inc. Takes Position in Plexus Corp. $PLXS

Key Points

• Oppenheimer Asset Management purchased 10,540 Plexus shares worth approximately $3.17 million in the second quarter. Institutional investors and hedge funds now own about 94.45% of PLXS.
• Plexus reported quarterly EPS of $2.32, beating the $2.13 consensus estimate, while revenue rose 28.2% year over year to $1.30 billion. Analysts remain bullish, with Needham maintaining a Buy rating and a $310 price target, and Zacks upgrading the stock to Strong Buy.
• Insiders sold 9,510 shares worth approximately $2.63 million over the past 90 days, including a director’s $1.1 million sale under a pre-arranged Rule 10b5-1 plan. Plexus trades near $267 with a relatively high P/E ratio of 39.44.

Oppenheimer Asset Management Inc. purchased a new position in Plexus Corp. (NASDAQ:PLXS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,540 shares of the technology company's stock, valued at approximately $3,169,000.

Other institutional investors have also made changes to their positions in the company. Covestor Ltd lifted its position 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 buying an additional 162 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Plexus by 20.8% during the 4th quarter. Allworth Financial LP now owns 302 shares of the technology company's stock valued at $44,000 after acquiring an additional 52 shares in the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of Plexus during the 2nd quarter valued at $108,000. Johnson Financial Group Inc. purchased a new position in shares of Plexus during the 3rd quarter valued at $72,000. Finally, Farther Finance Advisors LLC increased its stake 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 worth $75,000 after acquiring an additional 273 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Plexus

In other Plexus news, insider Michael J. Running sold 510 shares of the firm'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 value of $138,806.70. Following the sale, the insider owned 665 shares of the company's stock, valued at $180,993.05. This trade represents a 43.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael V. Schrock sold 4,000 shares of Plexus stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $275.00, for a total value of $1,100,000.00. Following the completion of the transaction, the director directly owned 40,329 shares in the company, valued at approximately $11,090,475. This represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,510 shares of company stock worth $2,625,182 in the last 90 days. 1.78% of the stock is owned by company insiders.

Key Headlines Impacting Plexus

Here are the key news stories impacting Plexus this week:

• Positive Sentiment: Needham analyst David Williams reiterated a Buy rating and maintained a $310 price target, implying roughly 16% upside from the recently referenced share price. The analyst cited a stronger revenue outlook. Analyst reiterates Buy on Plexus as revenue outlook surges
• Positive Sentiment: Zacks Research upgraded Plexus from Hold to Strong Buy and sharply increased its EPS forecasts across fiscal 2026-2028. Estimates rose to $7.02 for fiscal 2026, $8.50 for fiscal 2027 and $9.42 for fiscal 2028, indicating expectations for accelerating profitability. Earnings estimates rising for Plexus
• Positive Sentiment: The company’s latest quarterly report showed EPS of $2.32 versus the $2.13 consensus estimate and revenue of $1.30 billion versus expectations of $1.23 billion. Revenue increased 28.2% year over year, while fourth-quarter guidance calls for EPS of $2.47 to $2.63.
• Positive Sentiment: Recent institutional activity was supportive, including new or expanded positions by BlackRock, Bank of New York Mellon and Victory Capital. Institutions and hedge funds collectively own approximately 94.45% of PLXS shares.
• Neutral Sentiment: Despite the bullish revisions, Plexus trades at a relatively elevated valuation, with a price-to-earnings ratio near 39. Consensus analyst coverage remains favorable overall, with an average rating of Buy and a consensus price target near $273.
• Negative Sentiment: Director Michael Schrock sold 4,000 shares for approximately $1.1 million, reducing his position by 9.02%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, which reduces its significance as a discretionary bearish signal. Plexus director sells stock

Analyst Ratings Changes

Several brokerages recently issued reports on PLXS. Needham & Company LLC reiterated a "buy" rating and set a $310.00 price objective on shares of Plexus in a report on Friday. Zacks Research upgraded Plexus from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Sidoti raised Plexus from a "neutral" rating to a "buy" rating and set a $308.00 target price on the stock in a research report on Friday, July 31st. Weiss Ratings downgraded Plexus from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday. Finally, Wall Street Zen upgraded Plexus from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $273.00.

Plexus Stock Performance

NASDAQ:PLXS opened at $267.41 on Friday. Plexus Corp. has a 1 year low of $126.86 and a 1 year high of $307.06. The firm's fifty day simple moving average is $272.41 and its 200 day simple moving average is $240.31. The company has a current ratio of 1.49, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $7.16 billion, a PE ratio of 39.44 and a beta of 0.90.

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

Plexus Company 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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