23,750 Shares in Plexus Corp. $PLXS Bought by Castleark Management LLC

Castleark Management LLC bought a new stake in Plexus Corp. (NASDAQ:PLXS) in the second quarter, HoldingsChannel reports. The fund bought 23,750 shares of the technology company’s stock, valued at approximately $7,141,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLXS. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Plexus during the 2nd quarter worth about $32,000. Covestor Ltd grew its holdings in shares of Plexus by 207.7% in the 4th quarter. Covestor Ltd now owns 240 shares of the technology company’s stock valued at $35,000 after acquiring an additional 162 shares in the last quarter. Kilter Group LLC acquired a new stake in shares of Plexus in the second quarter valued at about $40,000. Allworth Financial LP increased its position in shares of Plexus by 20.8% in the fourth quarter. Allworth Financial LP now owns 302 shares of the technology company’s stock valued at $44,000 after acquiring an additional 52 shares during the last quarter. Finally, Persistent Asset Partners Ltd bought a new stake in Plexus during the second quarter worth about $71,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Plexus Stock Up 1.4%

Plexus stock opened at $240.94 on Wednesday. The firm has a market capitalization of $6.45 billion, a PE ratio of 35.54 and a beta of 0.90. The company’s 50-day moving average is $266.89 and its 200-day moving average is $243.41. Plexus Corp. has a fifty-two week low of $132.03 and a fifty-two week high of $307.06. 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 issued its earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.19. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business posted $1.64 EPS. Plexus’s revenue was up 28.2% on a year-over-year basis. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. Sell-side analysts anticipate that Plexus Corp. will post 7.11 earnings per share for the current year.

Insider Buying and Selling at Plexus

In other news, insider Michael J. Running sold 510 shares of Plexus stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $272.17, for a total transaction of $138,806.70. Following the completion of the transaction, the insider directly owned 665 shares in the company, valued at approximately $180,993.05. The trade was a 43.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael V. Schrock sold 4,000 shares of the business’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 value of $1,100,000.00. Following the transaction, the director directly owned 40,329 shares in the company, valued at $11,090,475. The trade was a 9.02% 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. Insiders have sold 8,510 shares of company stock worth $2,347,747 over the last 90 days. Company insiders own 1.78% of the company’s stock.

Analyst Upgrades and Downgrades

PLXS has been the subject of several recent research reports. Sidoti raised Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price target for the company in a research report on Friday, July 31st. Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Raymond James Financial reiterated an “outperform” rating and set a $275.00 price objective on shares of Plexus in a research note on Thursday, April 30th. Weiss Ratings cut Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Stifel Nicolaus increased their price objective on Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a report on Monday, June 22nd. One equities research 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 has an average rating of “Buy” and an average target price of $273.00.

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.