Van ECK Associates Corp Takes Position in Plexus Corp. $PLXS

Van ECK Associates Corp bought a new position in Plexus Corp. (NASDAQ:PLXS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 22,100 shares of the technology company’s stock, valued at approximately $6,645,000.

A number of other institutional investors and hedge funds have also modified their holdings of PLXS. BlackRock Inc. acquired a new position in Plexus during the second quarter valued at $1,311,631,000. Dimensional Fund Advisors LP boosted its position in Plexus by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,373,457 shares of the technology company’s stock worth $201,903,000 after acquiring an additional 7,051 shares during the period. State Street Corp boosted its position in Plexus by 2.3% during the 2nd quarter. State Street Corp now owns 1,059,501 shares of the technology company’s stock worth $143,361,000 after acquiring an additional 24,115 shares during the period. Geode Capital Management LLC boosted its position in Plexus by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 672,614 shares of the technology company’s stock worth $98,890,000 after acquiring an additional 4,054 shares during the period. Finally, Fuller & Thaler Asset Management Inc. grew its stake in Plexus by 5.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 446,705 shares of the technology company’s stock valued at $65,666,000 after acquiring an additional 24,441 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Stock Up 0.3%

PLXS opened at $239.29 on Thursday. The company has a market capitalization of $6.40 billion, a P/E ratio of 35.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.49 and a quick ratio of 0.72. The firm’s fifty day moving average price is $260.39 and its two-hundred day moving average price is $244.98. Plexus Corp. has a fifty-two week low of $132.03 and a fifty-two week high of $307.06.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 EPS for the quarter, topping 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 the consensus estimate of $1.23 billion. During the same period last year, the firm earned $1.64 EPS. The firm’s revenue for the quarter 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, analysts anticipate that Plexus Corp. will post 7.11 EPS for the current year.

Insider Buying and Selling at Plexus

In other news, CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $250.98, for a total transaction of $376,470.00. Following the completion of the sale, the chief executive officer owned 65,888 shares of the company’s stock, valued at approximately $16,536,570.24. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Marie Rapp sold 500 shares of Plexus stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $240.87, for a total value of $120,435.00. Following the completion of the transaction, the director directly owned 7,535 shares of the company’s stock, valued at $1,814,955.45. This represents a 6.22% decrease in their ownership of the stock. 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 8,010 shares of company stock worth $2,178,182 in the last three months. 1.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PLXS. Stifel Nicolaus upped their target price on Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $310.00 price objective on shares of Plexus in a research report on Friday, August 14th. Weiss Ratings lowered shares of Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Sidoti raised shares of 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. Finally, Zacks Research upgraded Plexus from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $273.00.

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.