Formula Growth Ltd. Takes $661,000 Position in Plexus Corp. $PLXS

Formula Growth Ltd. purchased a new position in shares of Plexus Corp. (NASDAQ:PLXS) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 2,200 shares of the technology company’s stock, valued at approximately $661,000.

Other hedge funds also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Plexus during the second quarter valued at $32,000. Covestor Ltd increased its position in 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 bought a new stake in shares of Plexus in the second quarter valued at $40,000. Allworth Financial LP raised its stake 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 buying an additional 52 shares during the period. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Plexus during the 2nd quarter valued at $71,000. Institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PLXS shares. Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price target for the company in a research note on Friday, July 31st. Zacks Research upgraded Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Plexus from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Stifel Nicolaus increased their target price 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. Finally, Weiss Ratings downgraded shares of Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $273.00.

Insider Buying and Selling

In other news, Director Michael V. Schrock sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $275.00, for a total transaction of $1,100,000.00. Following the sale, the director directly owned 40,329 shares in the company, valued at $11,090,475. This represents a 9.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael J. Running sold 510 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $272.17, for a total value of $138,806.70. Following the sale, the insider owned 665 shares in the company, valued at approximately $180,993.05. This represents a 43.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 8,510 shares of company stock valued at $2,347,747. Corporate insiders own 1.78% of the company’s stock.

Plexus Trading Up 0.4%

NASDAQ:PLXS opened at $245.43 on Friday. The company has a market cap of $6.57 billion, a P/E ratio of 36.20 and a beta of 0.90. The stock’s fifty day moving average price is $264.81 and its two-hundred day moving average price is $244.00. Plexus Corp. has a 1 year low of $132.03 and a 1 year high of $307.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.49 and a quick ratio of 0.72.

Plexus (NASDAQ:PLXS) last posted its quarterly 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 analyst estimates of $1.23 billion. Plexus had a return on equity of 12.46% and a net margin of 4.03%.The business’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same period last year, the company earned $1.64 earnings per share. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. As a group, analysts expect that Plexus Corp. will post 7.11 EPS for the current year.

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.