Plexus Corp. $PLXS Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in Plexus Corp. (NASDAQ:PLXS) by 36.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,141 shares of the technology company’s stock after selling 8,747 shares during the period. Assenagon Asset Management S.A.’s holdings in Plexus were worth $3,067,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of Plexus by 103.1% during the 1st quarter. AQR Capital Management LLC now owns 8,384 shares of the technology company’s stock worth $1,074,000 after purchasing an additional 4,255 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Plexus by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,971 shares of the technology company’s stock worth $2,046,000 after acquiring an additional 705 shares during the last quarter. United Services Automobile Association acquired a new stake in Plexus during the 1st quarter worth approximately $218,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Plexus by 12.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,584 shares of the technology company’s stock valued at $10,197,000 after acquiring an additional 9,078 shares during the period. Finally, Cetera Investment Advisers purchased a new position in Plexus in the second quarter valued at about $309,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PLXS. Benchmark reissued a “buy” rating and set a $220.00 target price on shares of Plexus in a research report on Monday, March 16th. Weiss Ratings cut Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Zacks Research downgraded Plexus from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Stifel Nicolaus upped their price objective on Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.67.

Plexus Stock Up 4.5%

PLXS stock opened at $300.67 on Wednesday. The firm’s 50-day moving average is $271.59 and its two-hundred day moving average is $217.26. The company has a market capitalization of $8.05 billion, a price-to-earnings ratio of 43.96 and a beta of 0.89. Plexus Corp. has a 52 week low of $115.35 and a 52 week high of $307.06. The company has a current ratio of 1.54, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.18. Plexus had a net margin of 4.35% and a return on equity of 12.84%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm posted $1.66 earnings per share. The business’s revenue was up 18.7% on a year-over-year basis. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. On average, analysts forecast that Plexus Corp. will post 5.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Plexus news, EVP Angelo Michael Ninivaggi, Jr. sold 3,270 shares of Plexus stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $264.75, for a total transaction of $865,732.50. Following the transaction, the executive vice president owned 16,266 shares of the company’s stock, valued at $4,306,423.50. The trade was a 16.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $268.45, for a total transaction of $805,350.00. Following the transaction, the chief executive officer directly owned 74,888 shares in the company, valued at $20,103,683.60. The trade was a 3.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 21,981 shares of company stock valued at $5,855,318. 1.78% of the stock is owned by corporate insiders.

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.