Isthmus Partners LLC Sells 2,618 Shares of Plexus Corp. $PLXS

Isthmus Partners LLC cut its position in Plexus Corp. (NASDAQ:PLXS) by 26.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,159 shares of the technology company’s stock after selling 2,618 shares during the period. Isthmus Partners LLC’s holdings in Plexus were worth $1,868,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Plexus during the second quarter valued at approximately $1,311,631,000. Congress Asset Management Co. increased its position in shares of Plexus by 204.0% during the third quarter. Congress Asset Management Co. now owns 315,396 shares of the technology company’s stock valued at $82,303,000 after acquiring an additional 211,663 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Plexus during the second quarter valued at approximately $60,281,000. Bank of New York Mellon Corp bought a new stake in shares of Plexus during the second quarter valued at approximately $55,525,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Plexus in the 2nd quarter worth approximately $35,755,000. Institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

PLXS has been the topic of several analyst reports. Sidoti raised Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price objective on the stock in a research report on Friday, July 31st. Wall Street Zen upgraded Plexus from a “hold” rating to a “buy” rating in a research note on Sunday, October 4th. KeyCorp raised Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 target price for the company in a report on Monday, September 21st. Zacks Research upgraded Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $310.00 price target on shares of Plexus in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $276.86.

Plexus Price Performance

PLXS opened at $220.78 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.49. The stock has a market capitalization of $5.91 billion, a P/E ratio of 35.21 and a beta of 0.88. The company’s 50-day simple moving average is $250.63 and its two-hundred day simple moving average is $258.62. Plexus Corp. has a 52-week low of $132.03 and a 52-week high of $307.06.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.19. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm posted $1.64 EPS. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. As a group, analysts predict that Plexus Corp. will post 7.13 EPS for the current year.

Insider Activity at Plexus

In related news, Director Karen Rapp sold 500 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were 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 in the company, valued at $1,814,955.45. This represents a 6.22% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael V. Schrock sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $275.00, for a total transaction of $1,100,000.00. Following the completion of the sale, the director owned 40,329 shares in the company, valued at $11,090,475. This represents a 9.02% decrease in their position. 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 a total of 9,000 shares of company stock worth $2,319,260 over the last quarter. Company insiders own 1.78% of the company’s stock.

Plexus Profile

Plexus Corp. is an electronics manufacturing services company that helps customers design, develop, manufacture and service complex electronic products. The company provides an integrated product-realization process spanning engineering and design, supply-chain management, manufacturing, testing, logistics and aftermarket services.

Plexus supports original equipment manufacturers in industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.