Plexus Corp. $PLXS Stock Purchased by Congress Asset Management Co.

Key Points

• Congress Asset Management increased its Plexus holdings by 204% in the third quarter, acquiring 211,663 additional shares for a total stake valued at approximately $82.3 million. Institutional investors collectively own 94.45% of the company.
• Plexus reported quarterly revenue of $1.30 billion and earnings of $2.32 per share, beating analyst estimates, while revenue grew 28.2% year over year. The company guided for fourth-quarter EPS of $2.47–$2.63.
• Analyst sentiment has strengthened, with several firms upgrading Plexus to Buy or Strong Buy; the stock has a consensus “Buy” rating and an average price target of $276.86. Plexus shares recently traded at $272.63, down 0.2%.

Congress Asset Management Co. raised its holdings in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 204.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 315,396 shares of the technology company's stock after acquiring an additional 211,663 shares during the period. Congress Asset Management Co. owned about 1.18% of Plexus worth $82,303,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hodges Capital Management Inc. increased its stake in shares of Plexus by 47.7% during the fourth quarter. Hodges Capital Management Inc. now owns 17,950 shares of the technology company's stock valued at $2,639,000 after buying an additional 5,795 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Plexus during the first quarter valued at approximately $2,410,000. Walleye Capital LLC purchased a new position in Plexus during the second quarter valued at $8,296,000. Inspire Investing LLC raised its position in shares of Plexus by 239.5% in the 1st quarter. Inspire Investing LLC now owns 10,789 shares of the technology company's stock worth $2,185,000 after purchasing an additional 7,611 shares during the last quarter. Finally, Readystate Asset Management LP bought a new position in shares of Plexus in the second quarter worth approximately $2,917,000. Institutional investors own 94.45% of the company's stock.

Insiders Place Their Bets

In other Plexus news, Director Karen Rapp sold 500 shares of the company's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $240.87, for a total transaction of $120,435.00. Following the transaction, the director owned 7,535 shares in the company, valued at approximately $1,814,955.45. This represents a 6.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kelsey sold 1,500 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $250.98, for a total value of $376,470.00. Following the completion of the transaction, the chief executive officer owned 65,888 shares of the company's stock, valued at $16,536,570.24. This trade represents a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 7,500 shares of company stock valued at $1,960,520. 1.78% of the stock is currently owned by insiders.

Plexus Trading Down 0.2%

NASDAQ:PLXS traded down $0.55 during mid-day trading on Tuesday, hitting $272.63. 155,516 shares of the stock traded hands, compared to its average volume of 312,861. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. The firm's 50 day moving average is $254.34 and its two-hundred day moving average is $254.53. Plexus Corp. has a 52 week low of $132.03 and a 52 week high of $307.06. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 40.21 and a beta of 0.88.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.19. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The company had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the company earned $1.64 EPS. The firm's quarterly revenue was up 28.2% on a year-over-year basis. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. On average, equities research analysts predict that Plexus Corp. will post 7.13 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on PLXS. Needham & Company LLC restated a "buy" rating and issued a $310.00 target price on shares of Plexus in a report on Friday, August 14th. Wall Street Zen raised shares of Plexus from a "hold" rating to a "buy" rating in a research note on Sunday. Sidoti upgraded Plexus from a "neutral" rating to a "buy" rating and set a $308.00 price target for the company in a research note on Friday, July 31st. KeyCorp upgraded Plexus from a "sector weight" rating to an "overweight" rating and set a $300.00 price objective on the stock in a research report on Monday, September 21st. Finally, Zacks Research upgraded Plexus from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Plexus presently has an average rating of "Buy" and a consensus price target of $276.86.

Plexus Company Profile

Plexus Corp. NASDAQ: PLXS is an electronics manufacturing services and product development company headquartered in Neenah, Wisconsin. The company helps customers design, engineer, manufacture and service complex electronic products, offering capabilities that span product development, printed circuit board assembly, systems integration, testing, supply-chain management and aftermarket support.

Plexus serves customers in markets including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.

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