Michael Schrock Sells 4,000 Shares of Plexus (NASDAQ:PLXS) Stock

Key Points

• Plexus director Michael Schrock sold 4,000 shares at $275 each, generating $1.1 million under a pre-arranged Rule 10b5-1 plan. He retained 40,329 shares after the transaction.
• Plexus shares fell 2.9% to $264.04, despite the company reporting quarterly EPS of $2.32—above estimates—and revenue of $1.30 billion, up 28.2% year over year.
• Wall Street maintains a favorable outlook, with a consensus “Buy” rating and an average price target of $273; institutional investors own 94.45% of the company.

Plexus Corp. (NASDAQ:PLXS - Get Free Report) Director Michael Schrock sold 4,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $275.00, for a total value of $1,100,000.00. Following the sale, the director directly owned 40,329 shares in the company, valued at approximately $11,090,475. The trade was a 9.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Plexus Stock Down 2.9%

PLXS traded down $7.91 on Thursday, hitting $264.04. The company had a trading volume of 238,760 shares, compared to its average volume of 334,981. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 38.94 and a beta of 0.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.49. The stock has a fifty day moving average price of $272.93 and a 200-day moving average price of $239.49. Plexus Corp. has a 12-month low of $126.86 and a 12-month high of $307.06.

Plexus (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.32 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 business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. The company'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. Analysts predict that Plexus Corp. will post 6.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PLXS. Raymond James Financial restated an "outperform" rating and issued a $275.00 target price on shares of Plexus in a research note on Thursday, April 30th. Weiss Ratings downgraded Plexus from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday. Wall Street Zen upgraded Plexus from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Needham & Company LLC raised their price objective on Plexus from $285.00 to $310.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. Finally, Stifel Nicolaus boosted their target price on Plexus from $280.00 to $330.00 and gave the stock a "buy" rating in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $273.00.

Hedge Funds Weigh In On Plexus

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Plexus during the 2nd quarter valued at approximately $32,000. Covestor Ltd raised its holdings in shares of Plexus by 207.7% in the fourth quarter. Covestor Ltd now owns 240 shares of the technology company's stock worth $35,000 after buying an additional 162 shares during the last quarter. Kilter Group LLC acquired a new stake in shares of Plexus during the second quarter worth $40,000. Allworth Financial LP lifted its stake in shares of Plexus by 20.8% during the fourth quarter. Allworth Financial LP now owns 302 shares of the technology company's stock worth $44,000 after buying an additional 52 shares during the period. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Plexus during the second quarter valued at $71,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Company 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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