Bank of New York Mellon Corp Makes New $55.52 Million Investment in Plexus Corp. $PLXS

Bank of New York Mellon Corp acquired a new stake in Plexus Corp. (NASDAQ:PLXS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 184,672 shares of the technology company’s stock, valued at approximately $55,525,000.

Several other institutional investors also recently made changes to their positions in PLXS. Covestor Ltd lifted its stake in shares of Plexus by 207.7% in the fourth quarter. Covestor Ltd now owns 240 shares of the technology company’s stock valued at $35,000 after purchasing an additional 162 shares during the period. Allworth Financial LP increased its stake in shares of Plexus by 20.8% during the 4th quarter. Allworth Financial LP now owns 302 shares of the technology company’s stock worth $44,000 after purchasing an additional 52 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in Plexus in the 3rd quarter valued at about $72,000. Farther Finance Advisors LLC grew its stake in Plexus by 114.7% in the 4th quarter. Farther Finance Advisors LLC now owns 511 shares of the technology company’s stock worth $75,000 after acquiring an additional 273 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Plexus by 583.3% during the 2nd 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 hedge funds and other institutional investors.

Plexus Trading Up 1.5%

Shares of Plexus stock opened at $244.52 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.49 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $6.54 billion, a P/E ratio of 36.06 and a beta of 0.90. Plexus Corp. has a 12-month low of $132.03 and a 12-month high of $307.06. The company has a 50-day simple moving average of $265.90 and a 200 day simple moving average of $243.72.

Plexus (NASDAQ:PLXS) last announced its earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.19. The company had revenue of $1.30 billion for 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%. Plexus’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.64 earnings per share. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. Research analysts expect that Plexus Corp. will post 7.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PLXS has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $310.00 price objective on shares of Plexus in a report on Friday, August 14th. Sidoti raised shares of 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. Wall Street Zen upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings cut shares of Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Stifel Nicolaus raised their price objective on Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $273.00.

Insider Buying and Selling

In related news, Director Michael V. Schrock sold 4,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $275.00, for a total transaction of $1,100,000.00. Following the completion of the transaction, the director directly owned 40,329 shares in the company, valued at approximately $11,090,475. This trade represents a 9.02% decrease in their ownership of the stock. The transaction 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, insider Michael J. Running sold 510 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $272.17, for a total transaction of $138,806.70. Following the transaction, the insider owned 665 shares of the company’s stock, valued at approximately $180,993.05. This represents a 43.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,510 shares of company stock valued at $2,347,747 in the last 90 days. 1.78% of the stock is owned by insiders.

Plexus Company 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.