Renaissance Technologies LLC Makes New $7.07 Million Investment in Plexus Corp. $PLXS

Renaissance Technologies LLC acquired a new stake in Plexus Corp. (NASDAQ:PLXS) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 34,893 shares of the technology company’s stock, valued at approximately $7,067,000. Renaissance Technologies LLC owned 0.13% of Plexus at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC raised its stake in Plexus by 103.1% during the first quarter. AQR Capital Management LLC now owns 8,384 shares of the technology company’s stock worth $1,074,000 after acquiring an additional 4,255 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Plexus by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,971 shares of the technology company’s stock worth $2,046,000 after purchasing an additional 705 shares in the last quarter. United Services Automobile Association bought a new position in Plexus during the 1st quarter valued at about $218,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Plexus by 12.9% in the first 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 buying an additional 9,078 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in Plexus in the second quarter valued at about $309,000. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

PLXS has been the topic of several research analyst reports. Weiss Ratings raised shares of Plexus from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. Zacks Research raised Plexus from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Wall Street Zen upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price target on the stock in a research report on Friday, July 31st. Finally, Needham & Company LLC lifted their price objective on Plexus from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Plexus currently has an average rating of “Moderate Buy” and a consensus price target of $273.00.

Plexus Price Performance

PLXS opened at $276.79 on Wednesday. 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 stock has a market capitalization of $7.41 billion, a P/E ratio of 40.82 and a beta of 0.90. The company’s 50 day simple moving average is $273.33 and its 200-day simple moving average is $235.67. Plexus Corp. has a one year low of $126.86 and a one year high of $307.06.

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 net margin of 4.03% and a return on equity of 12.46%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company 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 5.98 earnings per share for the current fiscal year.

Insider Transactions at Plexus

In related news, insider Michael J. Running sold 510 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $272.17, for a total value of $138,806.70. Following the transaction, the insider owned 665 shares in the company, valued at $180,993.05. This trade represents a 43.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $294.98, for a total value of $442,470.00. Following the completion of the sale, the chief executive officer owned 68,888 shares of the company’s stock, valued at approximately $20,320,582.24. The trade was a 2.13% 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. In the last ninety days, insiders have sold 14,078 shares of company stock worth $3,808,955. Insiders own 1.78% of the company’s stock.

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.