Palisade Capital Management LP Makes New Investment in Plexus Corp. $PLXS

Palisade Capital Management LP acquired a new stake in Plexus Corp. (NASDAQ:PLXS) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 35,984 shares of the technology company’s stock, valued at approximately $10,819,000. Palisade Capital Management LP owned 0.13% of Plexus as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. AQR Capital Management LLC lifted its stake in Plexus by 103.1% in the first quarter. AQR Capital Management LLC now owns 8,384 shares of the technology company’s stock valued at $1,074,000 after buying an additional 4,255 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Plexus by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,971 shares of the technology company’s stock worth $2,046,000 after acquiring an additional 705 shares during the period. United Services Automobile Association bought a new stake in Plexus in the 1st quarter valued at $218,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Plexus by 12.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,584 shares of the technology company’s stock valued at $10,197,000 after acquiring an additional 9,078 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in Plexus in the 2nd quarter worth $309,000. 94.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PLXS has been the topic of several recent research reports. Raymond James Financial reissued an “outperform” rating and issued a $275.00 price target on shares of Plexus in a research note on Thursday, April 30th. Needham & Company LLC restated a “buy” rating and set a $310.00 target price on shares of Plexus in a report on Friday, August 14th. Weiss Ratings downgraded Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Finally, Stifel Nicolaus boosted their target price on shares of Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Plexus has a consensus rating of “Buy” and an average price target of $273.00.

Insider Buying and Selling

In other Plexus news, insider Michael J. Running sold 510 shares of the stock in a transaction that occurred 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 transaction, the insider owned 665 shares in the company, valued at $180,993.05. This represents a 43.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the director directly owned 40,329 shares in the company, valued at $11,090,475. This represents a 9.02% 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. Over the last three months, insiders have sold 8,510 shares of company stock valued at $2,347,747. 1.78% of the stock is owned by company insiders.

Plexus Stock Performance

NASDAQ:PLXS opened at $240.94 on Wednesday. The stock has a 50 day simple moving average of $266.89 and a 200 day simple moving average of $243.41. The stock has a market cap of $6.45 billion, a P/E ratio of 35.54 and a beta of 0.90. Plexus Corp. has a 1-year low of $132.03 and a 1-year high of $307.06. 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 (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 earnings per share for the quarter, topping 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 firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business earned $1.64 EPS. The company’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. Research analysts anticipate that Plexus Corp. will post 7.11 earnings per share for the current 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.