Palisade Capital Management LP Purchases New Stake in Plexus Corp. $PLXS

Palisade Capital Management LP acquired a new position in shares of Plexus Corp. (NASDAQ:PLXS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,984 shares of the technology company’s stock, valued at approximately $10,819,000.

Several other institutional investors and hedge funds have also bought and sold shares of PLXS. Inspire Investing LLC increased its holdings in Plexus by 1.6% in the 4th quarter. Inspire Investing LLC now owns 3,178 shares of the technology company’s stock valued at $467,000 after buying an additional 50 shares during the period. Allworth Financial LP lifted its holdings in shares of Plexus by 20.8% during the 4th quarter. Allworth Financial LP now owns 302 shares of the technology company’s stock worth $44,000 after acquiring an additional 52 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Plexus by 1.5% during the 4th quarter. Maryland State Retirement & Pension System now owns 3,940 shares of the technology company’s stock worth $579,000 after acquiring an additional 60 shares during the period. Trust Point Inc. boosted its position in shares of Plexus by 5.5% during the 2nd quarter. Trust Point Inc. now owns 1,308 shares of the technology company’s stock worth $393,000 after acquiring an additional 68 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Plexus by 1.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,175 shares of the technology company’s stock worth $908,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Plexus Price Performance

Shares of NASDAQ:PLXS opened at $240.94 on Wednesday. The company has a market cap of $6.45 billion, a price-to-earnings 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. The firm has a 50 day simple moving average of $266.89 and a 200 day simple moving average of $243.41. Plexus Corp. has a one year low of $132.03 and a one year high of $307.06.

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

Insider Buying and Selling

In other Plexus news, Director Michael V. Schrock sold 4,000 shares of the stock in a transaction dated 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 completion of the transaction, the director directly owned 40,329 shares in the company, valued at approximately $11,090,475. This trade represents a 9.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd P. Kelsey sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $250.98, for a total value of $376,470.00. Following the sale, the chief executive officer owned 65,888 shares in the company, valued at approximately $16,536,570.24. This trade represents a 2.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 in the last 90 days. Insiders own 1.78% of the company’s stock.

Wall Street Analysts Forecast Growth

PLXS has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $310.00 target price on shares of Plexus in a report on Friday, August 14th. Zacks Research upgraded Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Wall Street Zen raised Plexus from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Raymond James Financial restated an “outperform” rating and set a $275.00 price objective on shares of Plexus in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $273.00.

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.