Rhumbline Advisers Decreases Stake in Plexus Corp. $PLXS

Key Points

• Rhumbline Advisers has reduced its stake in Plexus Corp. by 2.8%, now owning 79,794 shares valued at approximately $10.2 million.
• Several hedge funds, including Versant Capital Management with a 1,000% increase, have significantly adjusted their positions in Plexus in the first quarter.
• Plexus has received mixed ratings from analysts, with price targets ranging from $140 to $160 and a consensus rating of "Moderate Buy."

Rhumbline Advisers trimmed its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,794 shares of the technology company's stock after selling 2,285 shares during the period. Rhumbline Advisers owned 0.29% of Plexus worth $10,224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in Plexus by 1,000.0% during the first 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 in the last quarter. TD Private Client Wealth LLC lifted its holdings in Plexus by 185.6% during the first quarter. TD Private Client Wealth LLC now owns 514 shares of the technology company's stock valued at $66,000 after purchasing an additional 334 shares in the last quarter. Banque Transatlantique SA purchased a new position in Plexus during the first quarter valued at $71,000. N.E.W. Advisory Services LLC purchased a new position in Plexus during the first quarter valued at $87,000. Finally, Blue Trust Inc. lifted its holdings in 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 purchasing an additional 279 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Oliver K. Mihm sold 2,102 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $130.43, for a total value of $274,163.86. Following the completion of the transaction, the chief operating officer owned 21,155 shares of the company's stock, valued at approximately $2,759,246.65. This trade represents a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Patrick John Jermain sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $137.71, for a total transaction of $344,275.00. Following the completion of the transaction, the chief financial officer directly owned 20,959 shares of the company's stock, valued at approximately $2,886,263.89. The trade was a 10.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,356 shares of company stock valued at $1,926,890. 1.76% of the stock is owned by company insiders.

Plexus Trading Down 0.4%

Shares of PLXS traded down $0.59 during trading on Tuesday, reaching $136.92. 41,047 shares of the company traded hands, compared to its average volume of 175,015. Plexus Corp. has a twelve month low of $103.43 and a twelve month high of $172.89. The stock has a market cap of $3.70 billion, a PE ratio of 23.32 and a beta of 0.82. The stock has a 50-day simple moving average of $133.30 and a 200-day simple moving average of $129.94. The company has a quick ratio of 0.74, a current ratio of 1.58 and a debt-to-equity ratio of 0.06.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on PLXS. Needham & Company LLC decreased their price objective on shares of Plexus from $162.00 to $158.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Benchmark reiterated a "buy" rating and issued a $160.00 target price on shares of Plexus in a research report on Wednesday, June 4th. Stifel Nicolaus set a $140.00 target price on shares of Plexus in a research report on Thursday, July 24th. Wall Street Zen cut shares of Plexus from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, Sidoti upgraded shares of Plexus from a "neutral" rating to a "buy" rating and increased their target price for the company from $135.00 to $150.00 in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.