Summit Creek Advisors LLC Invests $1.48 Million in Plexus Corp. $PLXS

Summit Creek Advisors LLC purchased a new position in shares of Plexus Corp. (NASDAQ:PLXS) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 4,917 shares of the technology company’s stock, valued at approximately $1,478,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLXS. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Plexus in the 2nd quarter valued at $32,000. Covestor Ltd lifted its stake in shares of Plexus by 207.7% in the 4th quarter. Covestor Ltd now owns 240 shares of the technology company’s stock worth $35,000 after acquiring an additional 162 shares during the period. Allworth Financial LP boosted its holdings in shares of Plexus by 20.8% in the fourth quarter. Allworth Financial LP now owns 302 shares of the technology company’s stock valued at $44,000 after acquiring an additional 52 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in shares of Plexus in the second quarter valued at about $71,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Plexus in the third quarter valued at about $72,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Plexus Stock Down 7.7%

PLXS stock opened at $253.15 on Wednesday. The company has a market cap of $6.77 billion, a P/E ratio of 37.34 and a beta of 0.90. Plexus Corp. has a 52 week low of $126.86 and a 52 week high of $307.06. The company’s 50-day moving average price is $271.69 and its 200 day moving average price is $241.98. The company has a current ratio of 1.49, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06.

Plexus (NASDAQ:PLXS) last issued its earnings results 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 company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the company posted $1.64 earnings per share. The firm’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. On average, research analysts expect that Plexus Corp. will post 7.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Plexus news, insider Michael J. Running sold 510 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $272.17, for a total value of $138,806.70. Following the sale, the insider owned 665 shares of the company’s stock, valued at approximately $180,993.05. This represents a 43.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $294.98, for a total value of $442,470.00. Following the completion of the transaction, the chief executive officer owned 68,888 shares of the company’s stock, valued at approximately $20,320,582.24. This represents a 2.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 8,010 shares of company stock worth $2,246,027 in the last quarter. Company insiders own 1.78% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PLXS. Wall Street Zen raised shares of Plexus from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $310.00 price objective on shares of Plexus in a report on Friday, August 14th. Sidoti raised Plexus from a “neutral” rating to a “buy” rating and set a $308.00 target price for the company in a research note on Friday, July 31st. Stifel Nicolaus raised their price target on Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Finally, Zacks Research upgraded Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price 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.