New York State Teachers Retirement System Cuts Stock Holdings in Plexus Corp. $PLXS

New York State Teachers Retirement System lowered its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,970 shares of the technology company’s stock after selling 2,920 shares during the quarter. New York State Teachers Retirement System owned 0.13% of Plexus worth $5,141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PLXS. American Century Companies Inc. increased its position in shares of Plexus by 44.2% during the third quarter. American Century Companies Inc. now owns 1,103,892 shares of the technology company’s stock worth $159,722,000 after acquiring an additional 338,119 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Plexus in the 3rd quarter valued at about $12,509,000. Arrowstreet Capital Limited Partnership raised its position in Plexus by 965.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 80,890 shares of the technology company’s stock valued at $11,704,000 after purchasing an additional 73,295 shares in the last quarter. Qube Research & Technologies Ltd raised its position in Plexus by 37.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 242,726 shares of the technology company’s stock valued at $32,843,000 after purchasing an additional 65,644 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Plexus by 53.6% in the 2nd quarter. Bank of America Corp DE now owns 177,237 shares of the technology company’s stock valued at $23,982,000 after purchasing an additional 61,817 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Price Performance

PLXS stock opened at $265.04 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.54 and a quick ratio of 0.74. Plexus Corp. has a 1 year low of $115.35 and a 1 year high of $275.83. The firm has a market capitalization of $7.10 billion, a P/E ratio of 38.75 and a beta of 0.88. The business’s 50-day moving average is $214.47 and its two-hundred day moving average is $180.66.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, April 29th. The technology company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.18. Plexus had a return on equity of 12.84% and a net margin of 4.35%.The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the company earned $1.66 EPS. The business’s quarterly revenue was up 18.7% on a year-over-year basis. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. Analysts anticipate that Plexus Corp. will post 6.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Karen Marie Rapp sold 500 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $195.59, for a total transaction of $97,795.00. Following the sale, the director owned 8,535 shares of the company’s stock, valued at approximately $1,669,360.65. This trade represents a 5.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd P. Kelsey sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $270.75, for a total value of $270,750.00. Following the sale, the chief executive officer directly owned 73,888 shares in the company, valued at $20,005,176. This trade represents a 1.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,621 shares of company stock worth $6,578,664 over the last 90 days. Insiders own 1.78% of the company’s stock.

Analysts Set New Price Targets

PLXS has been the topic of a number of analyst reports. Stifel Nicolaus set a $250.00 price target on Plexus and gave the company a “buy” rating in a research report on Monday, April 20th. Williams Trading set a $195.00 price target on Plexus in a research report on Wednesday, January 28th. Wall Street Zen raised Plexus from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Needham & Company LLC increased their price target on Plexus from $206.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Weiss Ratings lowered Plexus from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $229.17.

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.