Plexus Corp. $PLXS Position Cut by Rhumbline Advisers

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 lowered its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 2.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund 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 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

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

Insider Activity

In other Plexus news, COO Oliver K. Mihm sold 2,102 shares of Plexus 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 sale, the chief operating officer directly owned 21,155 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patrick John Jermain sold 2,500 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $137.71, for a total transaction of $344,275.00. Following the transaction, the chief financial officer owned 20,959 shares in the company, valued at approximately $2,886,263.89. This trade represents a 10.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,356 shares of company stock valued at $1,926,890. 1.76% of the stock is currently owned by company insiders.

Plexus Stock Performance

Shares of PLXS opened at $137.63 on Thursday. Plexus Corp. has a 52 week low of $103.43 and a 52 week high of $172.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.58. The company has a market capitalization of $3.71 billion, a PE ratio of 23.45 and a beta of 0.82. The company's 50 day moving average price is $133.32 and its 200 day moving average price is $129.90.

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

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