Praxis Investment Management Inc. Reduces Holdings in Plexus Corp. $PLXS

Praxis Investment Management Inc. lessened its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 53.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,982 shares of the technology company’s stock after selling 2,268 shares during the quarter. Praxis Investment Management Inc.’s holdings in Plexus were worth $401,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PLXS. Dimensional Fund Advisors LP lifted its stake in Plexus by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,373,457 shares of the technology company’s stock worth $201,903,000 after purchasing an additional 7,051 shares in the last quarter. State Street Corp grew its position in shares of Plexus by 2.3% in the second quarter. State Street Corp now owns 1,059,501 shares of the technology company’s stock valued at $143,361,000 after purchasing an additional 24,115 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Plexus by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 672,614 shares of the technology company’s stock valued at $98,890,000 after purchasing an additional 4,054 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Plexus by 5.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 446,705 shares of the technology company’s stock valued at $65,666,000 after purchasing an additional 24,441 shares during the last quarter. Finally, Nuveen LLC increased its holdings in shares of Plexus by 12.2% in the fourth quarter. Nuveen LLC now owns 390,998 shares of the technology company’s stock valued at $57,477,000 after purchasing an additional 42,501 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PLXS shares. Wall Street Zen raised Plexus from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Plexus in a research note on Thursday, April 30th. Zacks Research lowered Plexus from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 20th. Stifel Nicolaus boosted their price target on shares of Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, Benchmark reissued a “buy” rating and set a $220.00 price target on shares of Plexus in a research report on Monday, March 16th. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.67.

Insider Activity

In other news, EVP Angelo Michael Ninivaggi, Jr. sold 3,270 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $264.75, for a total transaction of $865,732.50. Following the completion of the transaction, the executive vice president directly owned 16,266 shares in the company, valued at approximately $4,306,423.50. This represents a 16.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Todd P. Kelsey sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $268.45, for a total value of $805,350.00. Following the sale, the chief executive officer directly owned 74,888 shares of the company’s stock, 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. Insiders have sold a total of 21,981 shares of company stock valued at $5,855,318 in the last quarter. Insiders own 1.78% of the company’s stock.

Plexus Price Performance

PLXS stock opened at $275.11 on Monday. Plexus Corp. has a one year low of $115.35 and a one year high of $307.06. The firm has a market cap of $7.36 billion, a PE ratio of 40.22 and a beta of 0.88. The firm’s 50 day moving average price is $274.00 and its 200-day moving average price is $219.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.54.

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

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.