Castleark Management LLC Takes Position in Plexus Corp. $PLXS

Castleark Management LLC acquired a new position in shares of Plexus Corp. (NASDAQ:PLXS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,750 shares of the technology company’s stock, valued at approximately $7,141,000. Castleark Management LLC owned about 0.09% of Plexus as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Plexus during the second quarter valued at $1,311,631,000. 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 worth $51,311,000 after purchasing an additional 197,283 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Plexus during the 2nd quarter valued at about $55,525,000. Emerald Advisers LLC bought a new position in shares of Plexus in the 1st quarter valued at about $33,729,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Plexus during the 2nd quarter worth approximately $35,755,000. 94.45% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Michael J. Running sold 510 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $272.17, for a total transaction of $138,806.70. Following the completion of the sale, the insider owned 665 shares of the company’s stock, valued at $180,993.05. This represents a 43.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael V. Schrock sold 4,000 shares of the stock in a transaction 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 sale, the director directly owned 40,329 shares of the company’s stock, valued at $11,090,475. This represents a 9.02% decrease in their position. 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. In the last three months, insiders have sold 8,510 shares of company stock worth $2,347,747. Company insiders own 1.78% of the company’s stock.

Plexus Stock Up 1.4%

Shares of Plexus stock opened at $240.94 on Wednesday. Plexus Corp. has a 1 year low of $132.03 and a 1 year high of $307.06. The business has a 50-day moving average of $266.89 and a two-hundred day moving average of $243.41. The company has a market capitalization of $6.45 billion, a P/E ratio of 35.54 and a beta of 0.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.49 and a quick ratio of 0.72.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on PLXS. Needham & Company LLC reaffirmed a “buy” rating and issued a $310.00 price objective on shares of Plexus in a research note on Friday, August 14th. Wall Street Zen raised Plexus from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Sidoti raised Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price target on the stock in a research note on Friday, July 31st. Zacks Research upgraded Plexus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings cut Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $273.00.

Plexus Company 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.