Bank of New York Mellon Corp Trims Holdings in Plexus Corp. $PLXS

Bank of New York Mellon Corp decreased its position in shares of Plexus Corp. (NASDAQ:PLXS) by 2.3% during the first quarter, Holdings Channel.com reports. The fund owned 180,660 shares of the technology company’s stock after selling 4,245 shares during the quarter. Bank of New York Mellon Corp’s holdings in Plexus were worth $36,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Inspire Investing LLC raised its holdings in shares of Plexus by 1.6% in the 4th quarter. Inspire Investing LLC now owns 3,178 shares of the technology company’s stock valued at $467,000 after purchasing an additional 50 shares in the last quarter. Allworth Financial LP lifted its position in shares of Plexus by 20.8% in the 4th quarter. Allworth Financial LP now owns 302 shares of the technology company’s stock worth $44,000 after purchasing an additional 52 shares during the period. Maryland State Retirement & Pension System lifted its position in shares of Plexus by 1.5% in the 4th quarter. Maryland State Retirement & Pension System now owns 3,940 shares of the technology company’s stock worth $579,000 after purchasing an additional 60 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Plexus by 1.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,175 shares of the technology company’s stock valued at $908,000 after purchasing an additional 71 shares in the last quarter. Finally, Uncommon Cents Investing LLC boosted its stake in shares of Plexus by 0.8% during the fourth quarter. Uncommon Cents Investing LLC now owns 9,925 shares of the technology company’s stock valued at $1,459,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Activity

In other Plexus news, EVP Angelo Michael Ninivaggi, Jr. sold 3,270 shares of Plexus stock in a transaction on Friday, May 8th. The shares were sold at an average price of $264.75, for a total value of $865,732.50. Following the transaction, the executive vice president directly owned 16,266 shares of the company’s stock, valued at approximately $4,306,423.50. The trade was a 16.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $294.98, for a total transaction of $442,470.00. Following the completion of the transaction, the chief executive officer directly owned 68,888 shares in the company, valued at $20,320,582.24. This represents a 2.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,481 shares of company stock valued at $5,519,183 in the last ninety days. 1.78% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Needham & Company LLC boosted their price objective on shares of Plexus from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $275.00 target price on shares of Plexus in a research report on Thursday, April 30th. Weiss Ratings upgraded Plexus from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. Zacks Research upgraded Plexus from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Stifel Nicolaus boosted their price target on Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $246.67.

Plexus Stock Down 2.8%

NASDAQ:PLXS opened at $254.45 on Friday. Plexus Corp. has a fifty-two week low of $121.06 and a fifty-two week high of $307.06. The stock has a market capitalization of $6.81 billion, a P/E ratio of 37.20 and a beta of 0.88. 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’s 50-day simple moving average is $274.40 and its 200-day simple moving average is $230.60.

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