Wellington Management Group LLP Acquires New Position in Plexus Corp. $PLXS

Wellington Management Group LLP purchased a new position in Plexus Corp. (NASDAQ:PLXS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 70,614 shares of the technology company’s stock, valued at approximately $21,232,000.

Several other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Plexus during the second quarter valued at $1,311,631,000. Bank of America Corp DE bought a new stake in Plexus during the second quarter worth approximately $60,281,000. Victory Capital Management Inc. raised its holdings in Plexus by 130.0% during the 4th quarter. Victory Capital Management Inc. now owns 349,057 shares of the technology company’s stock valued at $51,311,000 after buying an additional 197,283 shares during the period. Bank of New York Mellon Corp purchased a new stake in Plexus in the 2nd quarter worth about $55,525,000. Finally, Emerald Advisers LLC bought a new stake in Plexus during the 1st quarter valued at about $33,729,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PLXS shares. Weiss Ratings lowered shares of Plexus from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Sidoti raised shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 target price on the stock in a research report on Friday, July 31st. Needham & Company LLC reiterated a “buy” rating and set a $310.00 price target on shares of Plexus in a research note on Friday, August 14th. Stifel Nicolaus increased their price objective on shares of Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $273.00.

Insider Activity at Plexus

In other Plexus news, Director Karen Rapp sold 500 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $240.87, for a total transaction of $120,435.00. Following the transaction, the director owned 7,535 shares of the company’s stock, valued at approximately $1,814,955.45. The trade was a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kelsey sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $250.98, for a total value of $376,470.00. Following the completion of the sale, the chief executive officer directly owned 65,888 shares of the company’s stock, valued at $16,536,570.24. This trade represents a 2.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 7,500 shares of company stock valued at $2,039,375. 1.78% of the stock is currently owned by insiders.

Plexus Price Performance

NASDAQ:PLXS opened at $245.98 on Monday. The company has a current ratio of 1.49, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. Plexus Corp. has a 12 month low of $132.03 and a 12 month high of $307.06. The firm has a market cap of $6.58 billion, a P/E ratio of 36.28 and a beta of 0.89. The stock has a 50 day moving average of $258.47 and a two-hundred day moving average of $245.59.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.13 by $0.19. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.23 billion. Plexus had a return on equity of 12.46% and a net margin of 4.03%.The firm’s revenue was up 28.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 EPS. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. On average, analysts expect that Plexus Corp. will post 7.11 earnings per share for the current fiscal 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.