Royal Bank of Canada Lowers Stock Position in Plexus Corp. $PLXS

Royal Bank of Canada lessened its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 26.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,580 shares of the technology company’s stock after selling 45,218 shares during the period. Royal Bank of Canada’s holdings in Plexus were worth $25,638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLXS. Quantinno Capital Management LP lifted its position in Plexus by 8.7% during the 1st quarter. Quantinno Capital Management LP now owns 5,228 shares of the technology company’s stock valued at $1,059,000 after acquiring an additional 418 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in Plexus in the first quarter worth about $8,155,000. Castleark Management LLC purchased a new stake in Plexus in the first quarter worth about $4,999,000. Waverly Advisors LLC increased its stake in shares of Plexus by 572.9% during the first quarter. Waverly Advisors LLC now owns 43,407 shares of the technology company’s stock valued at $8,792,000 after purchasing an additional 36,956 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Plexus during the first quarter valued at approximately $7,067,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Trading Up 6.1%

Shares of NASDAQ PLXS opened at $276.79 on Wednesday. The firm’s 50 day moving average price is $273.33 and its 200-day moving average price is $235.67. Plexus Corp. has a 52-week low of $126.86 and a 52-week high of $307.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.72 and a current ratio of 1.49. The company has a market cap of $7.41 billion, a PE ratio of 40.82 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results 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 net margin of 4.03% and a return on equity of 12.46%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the firm earned $1.64 earnings per share. The firm’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. On average, equities research analysts expect that Plexus Corp. will post 5.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLXS. Needham & Company LLC boosted their price target on Plexus from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Zacks Research raised Plexus from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Sidoti upgraded Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price objective for the company in a research note on Friday, July 31st. Wall Street Zen raised Plexus from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings raised Plexus from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.00.

Insiders Place Their Bets

In other news, insider Victor (Pang Hau) Tan sold 3,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $271.23, for a total value of $813,690.00. Following the completion of the transaction, the insider owned 10,457 shares in the company, valued at $2,836,252.11. The trade was a 22.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Angelo Michael Ninivaggi, Jr. sold 3,270 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $264.75, for a total value of $865,732.50. Following the transaction, the executive vice president directly owned 16,266 shares in the company, valued at approximately $4,306,423.50. The trade was a 16.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,078 shares of company stock worth $3,808,955 in the last 90 days. 1.78% of the stock is currently owned by company insiders.

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.