The Manufacturers Life Insurance Company Purchases New Holdings in Plexus Corp. $PLXS

Key Points

• The Manufacturers Life Insurance Company acquired 14,072 Plexus shares worth approximately $4.23 million in the second quarter. Institutional investors collectively own 94.45% of the company.
• Plexus reported stronger-than-expected quarterly results, with EPS of $2.32 versus the $2.13 consensus and revenue of $1.30 billion, up 28.2% year over year.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and a $273 average price target, although company insiders sold 8,510 shares worth approximately $2.35 million over the past quarter.

The Manufacturers Life Insurance Company purchased a new position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,072 shares of the technology company's stock, valued at approximately $4,231,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Plexus at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PLXS. Hodges Capital Management Inc. increased its position in shares of Plexus by 47.7% in the fourth quarter. Hodges Capital Management Inc. now owns 17,950 shares of the technology company's stock worth $2,639,000 after purchasing an additional 5,795 shares during the period. Louisiana State Employees Retirement System bought a new stake in Plexus during the first quarter worth about $2,410,000. Jefferies Financial Group Inc. acquired a new stake in Plexus during the fourth quarter worth about $2,182,000. Walleye Capital LLC acquired a new stake in Plexus during the second quarter worth about $8,296,000. Finally, GSA Capital Partners LLP increased its holdings in Plexus by 159.6% in the 4th quarter. GSA Capital Partners LLP now owns 14,638 shares of the technology company's stock valued at $2,152,000 after buying an additional 8,999 shares during the period. Institutional investors own 94.45% of the company's stock.

Insider Buying and Selling at Plexus

In other news, Director Michael V. Schrock sold 4,000 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $275.00, for a total transaction of $1,100,000.00. Following the completion of the transaction, the director directly owned 40,329 shares in the company, valued at approximately $11,090,475. This represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction on Wednesday, August 19th. The shares were 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. The trade was a 2.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,510 shares of company stock worth $2,347,747 over the last quarter. Corporate insiders own 1.78% of the company's stock.

Plexus Stock Down 0.6%

Shares of NASDAQ PLXS opened at $239.47 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 35.32 and a beta of 0.90. Plexus Corp. has a 12 month low of $132.03 and a 12 month high of $307.06. The stock has a 50-day moving average price of $262.34 and a two-hundred day moving average price of $244.46.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its earnings results on Wednesday, July 29th. The technology company reported $2.32 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.19. The firm had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.23 billion. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The business's revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.64 earnings per share. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. As a group, analysts forecast that Plexus Corp. will post 7.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on PLXS. Weiss Ratings cut shares of Plexus from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Stifel Nicolaus increased their price target on shares of Plexus from $280.00 to $330.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Zacks Research raised shares of Plexus from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Sidoti upgraded shares of Plexus from a "neutral" rating to a "buy" rating and set a $308.00 price objective for the company in a research report on Friday, July 31st. Finally, Needham & Company LLC restated a "buy" rating and set a $310.00 target price on shares of Plexus in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "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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