Plexus Corp. $PLXS Shares Sold by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management reduced its Plexus stake by 9.0% in Q1, selling 4,300 shares and ending with 43,325 shares worth about $8.78 million.
• Recent analyst sentiment is mixed but mostly positive: Plexus has a “Moderate Buy” consensus rating, with several firms raising price targets, while one analyst downgraded the stock to “strong sell.”
• Insiders have been selling shares, including CEO Todd P. Kelsey and EVP Angelo Michael Ninivaggi Jr.; over the last 90 days, insiders sold 21,981 shares valued at $5.86 million.

Hillsdale Investment Management Inc. trimmed its position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 9.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,325 shares of the technology company's stock after selling 4,300 shares during the quarter. Hillsdale Investment Management Inc. owned 0.16% of Plexus worth $8,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PLXS. Covestor Ltd increased its stake in Plexus by 207.7% during the fourth quarter. Covestor Ltd now owns 240 shares of the technology company's stock worth $35,000 after purchasing an additional 162 shares during the period. Allworth Financial LP boosted its stake in shares of Plexus by 70.1% in the third quarter. Allworth Financial LP now owns 250 shares of the technology company's stock valued at $36,000 after purchasing an additional 103 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of Plexus in the third quarter valued at approximately $72,000. Farther Finance Advisors LLC grew its holdings 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 valued at $75,000 after purchasing an additional 273 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Plexus by 583.3% in the second quarter. EverSource Wealth Advisors LLC now owns 574 shares of the technology company's stock valued at $78,000 after purchasing an additional 490 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of Plexus from $280.00 to $330.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Zacks Research downgraded shares of Plexus from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Plexus from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Needham & Company LLC upped their price objective on Plexus from $285.00 to $310.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $275.00 price objective on shares of Plexus in a research note on Thursday, April 30th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Plexus currently has an average rating of "Moderate Buy" and a consensus target price of $246.67.

Insider Activity

In other news, CEO Todd P. Kelsey sold 1,500 shares of the firm's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $294.98, for a total value of $442,470.00. Following the sale, the chief executive officer directly owned 68,888 shares in the company, valued at approximately $20,320,582.24. This trade represents a 2.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Angelo Michael Ninivaggi, Jr. sold 3,270 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $264.75, for a total transaction of $865,732.50. Following the transaction, the executive vice president owned 16,266 shares of the company's stock, valued at approximately $4,306,423.50. The trade was a 16.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 21,981 shares of company stock valued at $5,855,318. 1.78% of the stock is currently owned by company insiders.

Plexus Stock Performance

Shares of Plexus stock opened at $259.03 on Tuesday. The business has a 50-day simple moving average of $275.87 and a 200-day simple moving average of $224.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.54. Plexus Corp. has a one year low of $115.35 and a one year high of $307.06. The company has a market cap of $6.93 billion, a PE ratio of 37.87 and a beta of 0.88.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its earnings results on Wednesday, April 29th. The technology company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.18. Plexus had a net margin of 4.35% and a return on equity of 12.84%. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter last year, the company earned $1.66 earnings per share. The firm's revenue was up 18.7% compared to the same quarter last year. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. On average, equities research analysts forecast that Plexus Corp. will post 5.98 EPS for the current fiscal 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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