Plexus Corp. $PLXS Stake Lessened by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management reduced its Plexus stake by 6.3% in the second quarter, selling 6,939 shares and retaining 103,820 shares valued at approximately $31.2 million. Institutional investors collectively own 94.45% of PLXS.
• Plexus exceeded quarterly expectations, reporting $2.32 in EPS versus the $2.13 consensus and $1.30 billion in revenue, up 28.2% year over year. The company guided to fourth-quarter EPS of $2.47–$2.63.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and an average price target of $273; several firms recently upgraded Plexus or raised their targets, including Stifel Nicolaus at $330.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,820 shares of the technology company's stock after selling 6,939 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.39% of Plexus worth $31,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Plexus during the 2nd quarter worth about $32,000. Covestor Ltd lifted its position in shares of Plexus by 207.7% in the fourth quarter. Covestor Ltd now owns 240 shares of the technology company's stock worth $35,000 after purchasing an additional 162 shares in the last quarter. Kilter Group LLC acquired a new stake in shares of Plexus during the second quarter worth approximately $40,000. Allworth Financial LP boosted its holdings in shares of Plexus by 20.8% during the fourth quarter. Allworth Financial LP now owns 302 shares of the technology company's stock worth $44,000 after purchasing an additional 52 shares during the period. Finally, Persistent Asset Partners Ltd purchased a new position in Plexus during the second quarter valued at approximately $71,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Stock Performance

PLXS stock opened at $242.07 on Friday. The firm has a 50 day moving average of $259.30 and a two-hundred day moving average of $245.27. Plexus Corp. has a 12 month low of $132.03 and a 12 month high of $307.06. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 35.70 and a beta of 0.89. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06.

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

Insiders Place Their Bets

In related news, Director Michael V. Schrock sold 4,000 shares of the firm's 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 transaction, the director directly owned 40,329 shares of the company's stock, valued at approximately $11,090,475. This trade represents a 9.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Rapp sold 500 shares of the business's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $240.87, for a total value of $120,435.00. Following the completion of the sale, the director owned 7,535 shares of the company's stock, valued at approximately $1,814,955.45. This trade represents a 6.22% 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 7,500 shares of company stock valued at $2,039,375 over the last quarter. Insiders own 1.78% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on PLXS. Zacks Research upgraded shares of Plexus from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Sidoti raised shares of Plexus from a "neutral" rating to a "buy" rating and set a $308.00 target price for the company in a research note on Friday, July 31st. Weiss Ratings cut shares of Plexus from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Needham & Company LLC reiterated a "buy" rating and set a $310.00 price objective on shares of Plexus in a report on Friday, August 14th. Finally, Stifel Nicolaus lifted their price objective on Plexus from $280.00 to $330.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $273.00.

Plexus 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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