Plexus Corp. $PLXS Stock Position Raised by Comerica Bank

Key Points

• Comerica Bank raised its position in Plexus Corp. shares by 48% during the first quarter, now owning 14,616 shares valued at approximately $1.87 million.
• Insider sales were reported, with Victor Tan selling 3,000 shares for $417,000, leading to a 25.59% decrease in his holdings.
• Analysts have largely set a moderate buy consensus rating for Plexus, with price targets ranging from $140 to $160 per share.

Comerica Bank increased its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 48.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,616 shares of the technology company's stock after acquiring an additional 4,737 shares during the period. Comerica Bank owned 0.05% of Plexus worth $1,873,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Aquatic Capital Management LLC increased its holdings in shares of Plexus by 134.0% during the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock valued at $37,000 after acquiring an additional 134 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Plexus by 1,000.0% during the 1st quarter. Versant Capital Management Inc now owns 473 shares of the technology company's stock valued at $61,000 after acquiring an additional 430 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Plexus by 185.6% during the 1st quarter. TD Private Client Wealth LLC now owns 514 shares of the technology company's stock valued at $66,000 after acquiring an additional 334 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Plexus during the 1st quarter valued at about $87,000. Finally, Blue Trust Inc. increased its holdings in shares of Plexus by 49.2% during the 1st quarter. Blue Trust Inc. now owns 846 shares of the technology company's stock valued at $108,000 after acquiring an additional 279 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Activity at Plexus

In other news, insider Victor (Pang Hau) Tan sold 3,000 shares of Plexus stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $139.00, for a total transaction of $417,000.00. Following the sale, the insider owned 8,723 shares of the company's stock, valued at approximately $1,212,497. This trade represents a 25.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Oliver K. Mihm sold 2,102 shares of Plexus stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $130.43, for a total value of $274,163.86. Following 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 position. The disclosure for this sale can be found here. Insiders have sold 12,856 shares of company stock worth $1,725,080 in the last three months. Company insiders own 1.76% of the company's stock.

Analysts Set New Price Targets

PLXS has been the topic of a number of analyst reports. Benchmark reissued a "buy" rating and set a $160.00 price objective on shares of Plexus in a report on Wednesday, June 4th. Sidoti raised Plexus from a "neutral" rating to a "buy" rating and increased their price objective for the company from $135.00 to $150.00 in a report on Friday, July 25th. Wall Street Zen lowered Plexus from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Needham & Company LLC lowered their target price on Plexus from $162.00 to $158.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Finally, Stifel Nicolaus set a $140.00 target price on Plexus in a report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Plexus currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.00.

Plexus Stock Performance

PLXS opened at $135.12 on Wednesday. The firm has a market capitalization of $3.65 billion, a P/E ratio of 23.02 and a beta of 0.82. The stock's 50 day moving average price is $133.19 and its two-hundred day moving average price is $129.91. 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 Corp. has a 12-month low of $103.43 and a 12-month high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last released 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. Plexus had a return on equity of 12.33% and a net margin of 4.04%.The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $1.45 EPS. The company's revenue 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, equities analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current 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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