SG Americas Securities LLC Cuts Position in Plexus Corp. $PLXS

Key Points

• SG Americas Securities LLC slashed its Plexus position by 85.6% in the first quarter, leaving it with 1,224 shares worth about $248,000 after selling 7,297 shares.
• Plexus reported better-than-expected quarterly results, posting EPS of $2.05 versus the $1.87 consensus and revenue of $1.16 billion, up 18.7% year over year.
• Despite mixed insider and analyst signals, the stock remains broadly supported: insiders sold shares in recent months, while analysts hold a Moderate Buy consensus with a $246.67 price target and some firms raising targets as high as $330.

SG Americas Securities LLC cut its holdings in Plexus Corp. (NASDAQ:PLXS - Free Report) by 85.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,224 shares of the technology company's stock after selling 7,297 shares during the period. SG Americas Securities LLC's holdings in Plexus were worth $248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PLXS. Inspire Investing LLC grew its stake in Plexus by 1.6% in the 4th quarter. Inspire Investing LLC now owns 3,178 shares of the technology company's stock valued at $467,000 after purchasing an additional 50 shares during the period. Allworth Financial LP raised its stake in shares of Plexus by 20.8% during the 4th 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. Maryland State Retirement & Pension System boosted its holdings in shares of Plexus by 1.5% in the 4th quarter. Maryland State Retirement & Pension System now owns 3,940 shares of the technology company's stock worth $579,000 after buying an additional 60 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Plexus by 1.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,175 shares of the technology company's stock worth $908,000 after buying an additional 71 shares during the last quarter. Finally, Uncommon Cents Investing LLC grew its position in Plexus by 0.8% during the fourth quarter. Uncommon Cents Investing LLC now owns 9,925 shares of the technology company's stock valued at $1,459,000 after buying an additional 75 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Todd P. Kelsey sold 1,500 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $294.98, for a total transaction of $442,470.00. Following the sale, the chief executive officer directly owned 68,888 shares in the company, valued at approximately $20,320,582.24. The trade was a 2.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Victor (Pang Hau) Tan sold 3,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $271.23, for a total value of $813,690.00. Following the sale, the insider directly owned 10,457 shares in the company, valued at $2,836,252.11. This trade represents a 22.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 21,981 shares of company stock worth $5,855,318. Insiders own 1.78% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLXS. Raymond James Financial restated an "outperform" rating and set a $275.00 price objective on shares of Plexus in a report on Thursday, April 30th. Zacks Research downgraded shares of Plexus from a "hold" rating to a "strong sell" rating in a research report on Wednesday, May 20th. Weiss Ratings upgraded shares of Plexus from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday. Stifel Nicolaus lifted their price target on shares of Plexus from $280.00 to $330.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Finally, Wall Street Zen upgraded Plexus from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $246.67.

Plexus Trading Down 1.2%

Shares of Plexus stock opened at $267.27 on Friday. The stock has a market capitalization of $7.15 billion, a P/E ratio of 39.07 and a beta of 0.88. Plexus Corp. has a 52-week low of $115.35 and a 52-week high of $307.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.54. The stock's 50-day simple moving average is $275.70 and its 200 day simple moving average is $223.30.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its earnings results on Wednesday, April 29th. The technology company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.18. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Plexus had a net margin of 4.35% and a return on equity of 12.84%. The company's revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the company earned $1.66 earnings per share. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. As a group, research analysts anticipate that Plexus Corp. will post 5.98 EPS for the current year.

About Plexus

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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