Waverly Advisors LLC Sells 7,299 Shares of Plexus Corp. $PLXS

Waverly Advisors LLC lowered its holdings in Plexus Corp. (NASDAQ:PLXS) by 16.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,108 shares of the technology company’s stock after selling 7,299 shares during the quarter. Waverly Advisors LLC owned about 0.13% of Plexus worth $10,857,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in PLXS. California State Teachers Retirement System raised its holdings in shares of Plexus by 29,890.4% in the second quarter. California State Teachers Retirement System now owns 9,414,880 shares of the technology company’s stock valued at $2,830,772,000 after buying an additional 9,383,487 shares during the last quarter. BlackRock Inc. bought a new stake in Plexus during the 2nd quarter worth about $1,311,631,000. Bank of America Corp DE bought a new stake in Plexus during the 2nd quarter worth about $60,281,000. Victory Capital Management Inc. increased its position in Plexus by 130.0% in the 4th quarter. Victory Capital Management Inc. now owns 349,057 shares of the technology company’s stock valued at $51,311,000 after acquiring an additional 197,283 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Plexus in the 2nd quarter valued at about $55,525,000. Institutional investors own 94.45% of the company’s stock.

Plexus Stock Down 0.7%

NASDAQ:PLXS opened at $248.25 on Thursday. Plexus Corp. has a 12-month low of $132.03 and a 12-month high of $307.06. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $6.64 billion, a P/E ratio of 36.62 and a beta of 0.89. The stock’s fifty day simple moving average is $255.78 and its 200-day simple moving average is $246.67.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.19. Plexus had a return on equity of 12.46% and a net margin of 4.03%.The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. The firm’s revenue was up 28.2% on a year-over-year basis. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. Equities research analysts expect that Plexus Corp. will post 7.11 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. 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. Weiss Ratings cut shares of Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Stifel Nicolaus raised their price target on shares of Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Needham & Company LLC restated a “buy” rating and issued a $310.00 price objective on shares of Plexus in a research report on Friday, August 14th. Finally, Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Plexus currently has a consensus rating of “Buy” and a consensus target price of $273.00.

Insider Transactions at Plexus

In related news, Director Karen Rapp sold 500 shares of Plexus stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $240.87, for a total transaction of $120,435.00. Following the transaction, the director owned 7,535 shares of the company’s stock, valued at $1,814,955.45. This trade represents a 6.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 that occurred on 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 transaction, the director directly owned 40,329 shares in the company, valued at $11,090,475. The trade was a 9.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 7,500 shares of company stock worth $2,039,375. 1.78% of the stock is currently owned by company insiders.

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.