The Manufacturers Life Insurance Company Takes Position in Plexus Corp. $PLXS

The Manufacturers Life Insurance Company acquired a new stake in Plexus Corp. (NASDAQ:PLXS) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,072 shares of the technology company’s stock, valued at approximately $4,231,000.

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

Plexus Price Performance

Shares of NASDAQ PLXS opened at $239.47 on Tuesday. Plexus Corp. has a twelve month low of $132.03 and a twelve month high of $307.06. The firm has a fifty day simple moving average of $262.34 and a 200 day simple moving average of $244.46. The company has a market capitalization of $6.41 billion, a PE ratio of 35.32 and a beta of 0.90. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. The business’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, sell-side analysts forecast that Plexus Corp. will post 7.11 EPS for the current year.

Insider Activity at Plexus

In other Plexus news, 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 of the company’s stock, valued at approximately $11,090,475. The trade was a 9.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $250.98, for a total value of $376,470.00. Following the transaction, the chief executive officer owned 65,888 shares in the company, valued at $16,536,570.24. The trade was 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 a total of 8,510 shares of company stock worth $2,347,747 in the last 90 days. Corporate insiders own 1.78% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on PLXS shares. Stifel Nicolaus raised their target price on Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 price target on shares of Plexus in a research report on Friday, August 14th. Sidoti raised Plexus from a “neutral” rating to a “buy” rating and set a $308.00 price target for the company in a research note on Friday, July 31st. Zacks Research upgraded Plexus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings lowered Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target 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.