Formula Growth Ltd. Takes $661,000 Position in Plexus Corp. $PLXS

Formula Growth Ltd. bought a new stake in Plexus Corp. (NASDAQ:PLXS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,200 shares of the technology company’s stock, valued at approximately $661,000.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PLXS shares. Wall Street Zen upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Sidoti raised shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price objective on the stock in a research note on Friday, July 31st. Raymond James Financial reiterated an “outperform” rating and set a $275.00 price objective on shares of Plexus in a report on Thursday, April 30th. 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 research report on Monday, June 22nd. Finally, Zacks Research upgraded shares of Plexus from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Plexus presently has a consensus rating of “Buy” and an average price target of $273.00.

Plexus Trading Up 0.4%

NASDAQ:PLXS opened at $245.43 on Friday. Plexus Corp. has a 52 week low of $132.03 and a 52 week high of $307.06. The firm has a 50-day moving average price of $264.81 and a two-hundred day moving average price of $244.00. 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 firm has a market cap of $6.57 billion, a price-to-earnings ratio of 36.20 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last announced 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 the consensus estimate of $1.23 billion. Plexus had a return on equity of 12.46% and a net margin of 4.03%.The company’s revenue was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.64 EPS. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. On average, equities analysts expect that Plexus Corp. will post 7.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $294.98, for a total transaction of $442,470.00. Following the completion of the sale, the chief executive officer directly owned 68,888 shares of the company’s stock, valued at $20,320,582.24. This trade represents a 2.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael J. Running sold 510 shares of Plexus stock in a transaction on Friday, June 5th. The stock was sold at an average price of $272.17, for a total value of $138,806.70. Following the sale, the insider owned 665 shares in the company, valued at $180,993.05. The trade was a 43.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 8,510 shares of company stock valued at $2,347,747. Insiders own 1.78% of the company’s stock.

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.