Congress Asset Management Co. Buys 211,663 Shares of Plexus Corp. $PLXS

Congress Asset Management Co. grew its stake in Plexus Corp. (NASDAQ:PLXS) by 204.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 315,396 shares of the technology company’s stock after purchasing an additional 211,663 shares during the period. Congress Asset Management Co.’s holdings in Plexus were worth $82,303,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. increased its holdings in Plexus by 8.8% in the second quarter. QRG Capital Management Inc. now owns 3,552 shares of the technology company’s stock valued at $1,068,000 after buying an additional 287 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Plexus during the 2nd quarter worth about $725,000. Sequoia Financial Advisors LLC grew its position in shares of Plexus by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,653 shares of the technology company’s stock valued at $497,000 after acquiring an additional 167 shares during the period. Tidal Investments LLC increased its stake in shares of Plexus by 21.6% in the 2nd quarter. Tidal Investments LLC now owns 1,757 shares of the technology company’s stock valued at $528,000 after purchasing an additional 312 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Plexus in the 2nd quarter valued at about $51,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLXS. Stifel Nicolaus upped their target price on Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Weiss Ratings lowered shares of Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $310.00 price objective on shares of Plexus in a report on Friday, August 14th. KeyCorp upgraded shares of Plexus from a “sector weight” rating to an “overweight” rating and set a $300.00 target price on the stock in a research report on Monday, September 21st. Finally, Zacks Research raised shares of Plexus from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $276.86.

Plexus Trading Down 0.2%

Plexus stock traded down $0.55 during midday trading on Tuesday, hitting $272.63. 155,516 shares of the stock were exchanged, compared to its average volume of 312,861. The company has a current ratio of 1.49, a quick ratio of 0.72 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $254.34 and its 200 day simple moving average is $254.53. Plexus Corp. has a fifty-two week low of $132.03 and a fifty-two week high of $307.06. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 40.21 and a beta of 0.88.

Plexus (NASDAQ:PLXS) last released its quarterly 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. Plexus had a return on equity of 12.46% and a net margin of 4.03%.The business had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the business posted $1.64 EPS. The company’s 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, equities analysts anticipate that Plexus Corp. will post 7.13 EPS for the current year.

Insider Buying and Selling

In other news, CEO Todd Kelsey sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $242.41, for a total transaction of $363,615.00. Following the sale, the chief executive officer owned 64,388 shares of the company’s stock, valued at approximately $15,608,295.08. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael V. Schrock sold 4,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $275.00, for a total value of $1,100,000.00. Following the completion of the sale, the director directly owned 40,329 shares in the company, valued at $11,090,475. This represents a 9.02% decrease in their position. 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 7,500 shares of company stock valued at $1,960,520 in the last ninety days. Company insiders own 1.78% of the company’s stock.

Plexus Company Profile

Plexus Corp. (NASDAQ: PLXS) is an electronics manufacturing services and product development company headquartered in Neenah, Wisconsin. The company helps customers design, engineer, manufacture and service complex electronic products, offering capabilities that span product development, printed circuit board assembly, systems integration, testing, supply-chain management and aftermarket support.

Plexus serves customers in markets including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.