Fifth Third Bancorp Grows Stock Position in Plexus Corp. $PLXS

Fifth Third Bancorp grew its stake in Plexus Corp. (NASDAQ:PLXS) by 6,710.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,825 shares of the technology company’s stock after purchasing an additional 13,622 shares during the period. Fifth Third Bancorp’s holdings in Plexus were worth $2,800,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PLXS. Hodges Capital Management Inc. grew its holdings 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 purchased a new position in shares of Plexus during the first quarter worth about $2,410,000. JPMorgan Chase & Co. increased its position in shares of Plexus by 28.3% during the third quarter. JPMorgan Chase & Co. now owns 240,460 shares of the technology company’s stock worth $34,792,000 after purchasing an additional 52,967 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in shares of Plexus in the 4th quarter valued at about $2,182,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of Plexus by 159.6% in the 4th quarter. GSA Capital Partners LLP now owns 14,638 shares of the technology company’s stock valued at $2,152,000 after purchasing an additional 8,999 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Angelo Michael Ninivaggi, Jr. sold 3,270 shares of Plexus stock in a transaction on Friday, May 8th. The stock was sold at an average price of $264.75, for a total value of $865,732.50. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $268.45, for a total value of $805,350.00. Following the completion of the transaction, the chief executive officer 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. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,481 shares of company stock valued at $5,519,183 in the last quarter. 1.78% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on PLXS shares. Needham & Company LLC raised their price target on Plexus from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Zacks Research upgraded shares of Plexus from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Raymond James Financial reiterated an “outperform” rating and set a $275.00 price target on shares of Plexus in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Stifel Nicolaus upped their price objective on Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.67.

Plexus Stock Up 0.8%

PLXS opened at $252.59 on Tuesday. The business’s fifty day moving average is $274.62 and its two-hundred day moving average is $228.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.54. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 36.93 and a beta of 0.88. Plexus Corp. has a one year low of $115.35 and a one year high of $307.06.

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 analysts’ consensus estimates of $1.87 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Plexus had a net margin of 4.35% and a return on equity of 12.84%. The company’s revenue was up 18.7% on a year-over-year basis. During the same period last year, the company posted $1.66 EPS. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. Analysts anticipate that Plexus Corp. will post 5.98 EPS for the current fiscal year.

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.