Royal Bank of Canada Sells 9,395 Shares of Plexus Corp. $PLXS

Royal Bank of Canada reduced its position in Plexus Corp. (NASDAQ:PLXS - Free Report) by 4.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 192,854 shares of the technology company's stock after selling 9,395 shares during the period. Royal Bank of Canada owned 0.71% of Plexus worth $24,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Plexus by 0.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 975,612 shares of the technology company's stock valued at $125,005,000 after buying an additional 6,257 shares during the period. American Century Companies Inc. increased its stake in shares of Plexus by 24.7% in the 1st quarter. American Century Companies Inc. now owns 678,222 shares of the technology company's stock valued at $86,901,000 after buying an additional 134,205 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Plexus by 6.6% in the 4th quarter. Nuveen Asset Management LLC now owns 351,557 shares of the technology company's stock valued at $55,012,000 after buying an additional 21,911 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Plexus by 120.4% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 348,510 shares of the technology company's stock valued at $44,655,000 after buying an additional 190,360 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Plexus by 66.1% in the 1st quarter. Invesco Ltd. now owns 211,741 shares of the technology company's stock valued at $27,130,000 after buying an additional 84,249 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Plexus Trading Down 1.9%

Shares of Plexus stock traded down $2.72 during trading on Friday, reaching $138.06. 184,207 shares of the company were exchanged, compared to its average volume of 120,722. 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 twelve month low of $103.43 and a twelve month high of $172.89. The business has a 50-day moving average price of $133.29 and a 200-day moving average price of $129.95. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 23.52 and a beta of 0.82.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.19. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Plexus had a return on equity of 12.33% and a net margin of 4.04%.The company's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.45 earnings per share. Plexus has set its Q4 2025 guidance at 1.820-1.970 EPS. Sell-side analysts anticipate that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PLXS shares. Wall Street Zen cut Plexus from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Benchmark reaffirmed a "buy" rating and set a $160.00 price objective on shares of Plexus in a research note on Wednesday, June 4th. Needham & Company LLC decreased their price objective on Plexus from $162.00 to $158.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Sidoti raised Plexus from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $135.00 to $150.00 in a research note on Friday, July 25th. Finally, Stifel Nicolaus set a $140.00 price objective on Plexus in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Plexus currently has an average rating of "Moderate Buy" and an average target price of $152.00.

Insider Activity

In other Plexus news, COO Oliver K. Mihm sold 2,102 shares of Plexus stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $130.43, for a total transaction of $274,163.86. Following the transaction, the chief operating officer directly owned 21,155 shares in the company, valued at approximately $2,759,246.65. The trade was a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 1,576 shares of Plexus stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $137.78, for a total value of $217,141.28. Following the transaction, the chief accounting officer owned 24,495 shares in the company, valued at approximately $3,374,921.10. This represents a 6.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,356 shares of company stock valued at $1,926,890. Company insiders own 1.76% of the company's stock.

Plexus Company Profile

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.