Victory Capital Management Inc. Lowers Stock Position in Plexus Corp. $PLXS

Victory Capital Management Inc. lessened its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 16.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 151,774 shares of the technology company’s stock after selling 29,007 shares during the period. Victory Capital Management Inc.’s holdings in Plexus were worth $21,960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLXS. Salomon & Ludwin LLC bought a new position in shares of Plexus in the 3rd quarter worth about $30,000. Huntington National Bank boosted its stake in Plexus by 41.5% during the second quarter. Huntington National Bank now owns 324 shares of the technology company’s stock worth $44,000 after acquiring an additional 95 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Plexus by 583.3% during the second quarter. EverSource Wealth Advisors LLC now owns 574 shares of the technology company’s stock worth $78,000 after acquiring an additional 490 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Plexus by 33.0% in the third quarter. Smartleaf Asset Management LLC now owns 806 shares of the technology company’s stock worth $115,000 after purchasing an additional 200 shares during the period. Finally, Corient Private Wealth LLC purchased a new stake in Plexus in the second quarter worth about $210,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Plexus

In other Plexus news, COO Oliver K. Mihm sold 9,541 shares of Plexus stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $201.40, for a total value of $1,921,557.40. Following the completion of the sale, the chief operating officer owned 12,809 shares of the company’s stock, valued at approximately $2,579,732.60. This trade represents a 42.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd P. Kelsey sold 5,231 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $195.78, for a total value of $1,024,125.18. Following the transaction, the chief executive officer directly owned 83,291 shares in the company, valued at approximately $16,306,711.98. The trade was a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 47,995 shares of company stock worth $9,718,476. Insiders own 1.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PLXS shares. Williams Trading set a $195.00 target price on shares of Plexus in a report on Wednesday, January 28th. Weiss Ratings raised Plexus from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Needham & Company LLC lifted their price objective on Plexus from $165.00 to $206.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Wall Street Zen downgraded Plexus from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Stifel Nicolaus increased their target price on Plexus from $150.00 to $200.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $189.20.

Plexus Trading Up 3.1%

Shares of NASDAQ PLXS opened at $191.58 on Tuesday. The firm’s 50 day moving average price is $184.80 and its 200-day moving average price is $158.65. The company has a market cap of $5.13 billion, a PE ratio of 29.79 and a beta of 0.81. Plexus Corp. has a 52-week low of $103.43 and a 52-week high of $211.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.75 and a current ratio of 1.59.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, January 28th. The technology company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.01. Plexus had a net margin of 4.28% and a return on equity of 12.39%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the company posted $1.73 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Plexus has set its Q2 2026 guidance at 1.800-1.950 EPS. On average, equities research analysts expect that Plexus Corp. will post 5.9 EPS for the current fiscal 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.