Walleye Capital LLC Acquires Shares of 27,592 Plexus Corp. $PLXS

Walleye Capital LLC bought a new stake in shares of Plexus Corp. (NASDAQ:PLXS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 27,592 shares of the technology company’s stock, valued at approximately $8,296,000.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd boosted its holdings in shares of Plexus by 207.7% in the 4th quarter. Covestor Ltd now owns 240 shares of the technology company’s stock worth $35,000 after buying an additional 162 shares during the last quarter. Allworth Financial LP grew its position in Plexus by 20.8% during the fourth quarter. Allworth Financial LP now owns 302 shares of the technology company’s stock valued at $44,000 after buying an additional 52 shares during the period. Johnson Financial Group Inc. purchased a new stake in Plexus during the third quarter worth about $72,000. Farther Finance Advisors LLC increased its holdings in Plexus by 114.7% during the fourth quarter. Farther Finance Advisors LLC now owns 511 shares of the technology company’s stock worth $75,000 after buying an additional 273 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Plexus by 583.3% in the second quarter. EverSource Wealth Advisors LLC now owns 574 shares of the technology company’s stock worth $78,000 after acquiring an additional 490 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PLXS has been the topic of a number of research analyst reports. Sidoti upgraded shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 target price on the stock in a research note on Friday, July 31st. Stifel Nicolaus raised their price target on shares of Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Plexus in a report on Thursday, April 30th. Wall Street Zen upgraded Plexus from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Zacks Research raised Plexus from a “hold” rating to a “strong-buy” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $273.00.

Insider Activity at Plexus

In related news, CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $294.98, for a total value of $442,470.00. Following the completion of the transaction, the chief executive officer directly owned 68,888 shares of the company’s stock, valued at approximately $20,320,582.24. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 that occurred on Friday, June 5th. The shares were sold at an average price of $272.17, for a total transaction of $138,806.70. Following the completion of the transaction, the insider owned 665 shares of the company’s stock, valued at $180,993.05. This represents a 43.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 9,510 shares of company stock worth $2,625,182. 1.78% of the stock is owned by corporate insiders.

Plexus Trading Up 1.3%

Shares of Plexus stock opened at $267.41 on Friday. The stock has a market capitalization of $7.16 billion, a P/E ratio of 39.44 and a beta of 0.90. 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 stock’s 50-day simple moving average is $272.41 and its 200 day simple moving average is $240.31.

Plexus (NASDAQ:PLXS) last issued 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 during the quarter, compared to analyst estimates of $1.23 billion. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The company’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the business earned $1.64 earnings per share. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. As a group, research analysts anticipate that Plexus Corp. will post 7.11 EPS for the current year.

Key Stories Impacting Plexus

Here are the key news stories impacting Plexus this week:

• Positive Sentiment: Needham analyst David Williams reiterated a Buy rating and maintained a $310 price target, implying roughly 16% upside from the recently referenced share price. The analyst cited a stronger revenue outlook. Analyst reiterates Buy on Plexus as revenue outlook surges
• Positive Sentiment: Zacks Research upgraded Plexus from Hold to Strong Buy and sharply increased its EPS forecasts across fiscal 2026-2028. Estimates rose to $7.02 for fiscal 2026, $8.50 for fiscal 2027 and $9.42 for fiscal 2028, indicating expectations for accelerating profitability. Earnings estimates rising for Plexus
• Positive Sentiment: The company’s latest quarterly report showed EPS of $2.32 versus the $2.13 consensus estimate and revenue of $1.30 billion versus expectations of $1.23 billion. Revenue increased 28.2% year over year, while fourth-quarter guidance calls for EPS of $2.47 to $2.63.
• Positive Sentiment: Recent institutional activity was supportive, including new or expanded positions by BlackRock, Bank of New York Mellon and Victory Capital. Institutions and hedge funds collectively own approximately 94.45% of PLXS shares.
• Neutral Sentiment: Despite the bullish revisions, Plexus trades at a relatively elevated valuation, with a price-to-earnings ratio near 39. Consensus analyst coverage remains favorable overall, with an average rating of Buy and a consensus price target near $273.
• Negative Sentiment: Director Michael Schrock sold 4,000 shares for approximately $1.1 million, reducing his position by 9.02%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, which reduces its significance as a discretionary bearish signal. Plexus director sells 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.