Legal & General Group Plc Purchases Shares of 64,894 Plexus Corp. $PLXS

Legal & General Group Plc acquired a new position in shares of Plexus Corp. (NASDAQ:PLXS) during the second quarter, HoldingsChannel reports. The institutional investor acquired 64,894 shares of the technology company’s stock, valued at approximately $19,512,000.

Several other institutional investors have also modified their holdings of the stock. Hodges Capital Management Inc. raised its stake in Plexus by 47.7% during the 4th quarter. Hodges Capital Management Inc. now owns 17,950 shares of the technology company’s stock worth $2,639,000 after acquiring an additional 5,795 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Plexus in the first quarter valued at $2,410,000. Jefferies Financial Group Inc. purchased a new position in shares of Plexus during the fourth quarter worth about $2,182,000. Walleye Capital LLC acquired a new stake in shares of Plexus during the second quarter worth about $8,296,000. Finally, GSA Capital Partners LLP increased its position in shares of Plexus by 159.6% during the fourth quarter. GSA Capital Partners LLP now owns 14,638 shares of the technology company’s stock worth $2,152,000 after purchasing an additional 8,999 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Transactions at Plexus

In related news, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction on Wednesday, August 19th. The stock was 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 directly owned 65,888 shares of the company’s stock, valued at $16,536,570.24. This trade represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael V. Schrock sold 4,000 shares of Plexus 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 owned 40,329 shares in the company, valued at approximately $11,090,475. This trade represents a 9.02% 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 sold 8,510 shares of company stock worth $2,347,747 over the last 90 days. 1.78% of the stock is currently owned by insiders.

Plexus Stock Performance

Shares of PLXS stock opened at $240.87 on Friday. The stock has a market capitalization of $6.45 billion, a PE ratio of 35.53 and a beta of 0.90. Plexus Corp. has a 52-week low of $132.03 and a 52-week high of $307.06. The stock’s 50-day moving average price is $263.63 and its 200 day moving average price is $243.97. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data 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 return on equity of 12.46% and a net margin of 4.03%.The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the business earned $1.64 EPS. The firm’s 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. As a group, equities research analysts forecast that Plexus Corp. will post 7.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Stifel Nicolaus upped their target price on Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 price objective on shares of Plexus in a research note on Friday, August 14th. Wall Street Zen raised Plexus from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings lowered shares of Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $273.00.

About Plexus

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.