Royal Bank of Canada Cuts Stock Holdings in Plexus Corp. $PLXS

Key Points

• Royal Bank of Canada cut its Plexus stake by 26.3% in the first quarter, selling 45,218 shares and retaining 126,580 shares worth about $25.6 million. Institutional investors still own 94.45% of PLXS.
• Plexus reported a strong quarter, with EPS of $2.32 beating estimates by $0.19 and revenue of $1.30 billion exceeding forecasts; revenue rose 28.2% year over year.
• Analyst sentiment remains positive, with six Buy ratings and one Hold rating, though the consensus price target is $273, slightly below the stock’s reported $276.79 price. Recent insider transactions showed executives selling shares.

Royal Bank of Canada reduced its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 26.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,580 shares of the technology company's stock after selling 45,218 shares during the quarter. Royal Bank of Canada owned 0.47% of Plexus worth $25,638,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PLXS. Victory Capital Management Inc. boosted its holdings in Plexus by 130.0% during the 4th quarter. Victory Capital Management Inc. now owns 349,057 shares of the technology company's stock valued at $51,311,000 after acquiring an additional 197,283 shares during the period. Emerald Advisers LLC bought a new stake in Plexus in the first quarter valued at approximately $33,729,000. MetLife Investment Management LLC lifted its position in Plexus by 713.3% in the fourth quarter. MetLife Investment Management LLC now owns 126,971 shares of the technology company's stock valued at $18,665,000 after purchasing an additional 111,360 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Plexus during the first quarter valued at approximately $20,715,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Plexus during the third quarter valued at approximately $12,509,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Plexus Stock Performance

Shares of PLXS stock opened at $276.79 on Wednesday. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 40.82 and a beta of 0.90. The stock has a fifty day moving average of $273.33 and a 200 day moving average of $235.67. Plexus Corp. has a 52 week low of $126.86 and a 52 week high of $307.06. 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 issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.19. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm earned $1.64 EPS. The company's quarterly revenue was up 28.2% compared to the same quarter last year. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. As a group, research analysts expect that Plexus Corp. will post 5.98 earnings per share for the current year.

Insider Activity at Plexus

In other Plexus news, insider Victor (Pang Hau) Tan sold 3,000 shares of Plexus stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $271.23, for a total transaction of $813,690.00. Following the sale, the insider directly owned 10,457 shares of the company's stock, valued at approximately $2,836,252.11. The trade was a 22.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Angelo Michael Ninivaggi, Jr. sold 3,270 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $264.75, for a total value of $865,732.50. Following the transaction, the executive vice president owned 16,266 shares in the company, valued at $4,306,423.50. This trade represents a 16.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,078 shares of company stock worth $3,808,955 over the last ninety days. Corporate insiders own 1.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Plexus from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Stifel Nicolaus boosted their price objective on shares of Plexus from $280.00 to $330.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. Sidoti raised shares of Plexus from a "neutral" rating to a "buy" rating and set a $308.00 price objective for the company in a research note on Friday, July 31st. Zacks Research upgraded shares of Plexus from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Needham & Company LLC raised their target price on Plexus from $285.00 to $310.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Plexus has an average rating of "Moderate Buy" and a consensus price target 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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