Envestnet Asset Management Inc. Trims Position in Plexus Corp. $PLXS

Envestnet Asset Management Inc. trimmed its position in Plexus Corp. (NASDAQ:PLXS) by 7.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,213 shares of the technology company’s stock after selling 4,200 shares during the quarter. Envestnet Asset Management Inc. owned about 0.21% of Plexus worth $8,133,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC purchased a new stake in Plexus in the third quarter valued at approximately $30,000. Huntington National Bank increased its position in shares of Plexus by 41.5% in the 2nd quarter. Huntington National Bank now owns 324 shares of the technology company’s stock valued at $44,000 after purchasing an additional 95 shares during the last quarter. CWM LLC raised its stake in Plexus by 65.7% in the second quarter. CWM LLC now owns 537 shares of the technology company’s stock valued at $73,000 after buying an additional 213 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Plexus by 583.3% in the second quarter. EverSource Wealth Advisors LLC now owns 574 shares of the technology company’s stock valued at $78,000 after purchasing an additional 490 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new position in shares of Plexus in the 2nd quarter valued at $210,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on PLXS shares. Zacks Research raised shares of Plexus from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Sidoti lowered shares of Plexus from a “buy” rating to a “neutral” rating and set a $150.00 target price on the stock. in a research report on Friday, October 24th. Needham & Company LLC increased their target price on shares of Plexus from $165.00 to $206.00 and gave the company a “buy” rating in a report on Friday, January 30th. Benchmark lifted their price objective on Plexus from $165.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, Stifel Nicolaus upped their target price on Plexus from $150.00 to $200.00 and gave the company a “hold” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $189.20.

Plexus Trading Down 0.3%

Shares of PLXS opened at $196.57 on Friday. The firm has a market capitalization of $5.27 billion, a P/E ratio of 30.57 and a beta of 0.81. Plexus Corp. has a twelve month low of $103.43 and a twelve month high of $211.84. The company has a current ratio of 1.59, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $174.70 and its 200 day simple moving average is $152.80.

Plexus (NASDAQ:PLXS) last posted its earnings results on Wednesday, January 28th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. Plexus had a net margin of 4.28% and a return on equity of 12.39%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Plexus has set its Q2 2026 guidance at 1.800-1.950 EPS. On average, equities research analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current year.

Insider Activity

In other Plexus news, Chairman Dean A. Foate sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $204.89, for a total value of $1,024,450.00. Following the completion of the transaction, the chairman owned 15,000 shares in the company, valued at $3,073,350. This represents a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Angelo Michael Ninivaggi, Jr. sold 4,303 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $203.06, for a total transaction of $873,767.18. Following the sale, the chief accounting officer directly owned 20,099 shares of the company’s stock, valued at approximately $4,081,302.94. The trade was a 17.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 51,669 shares of company stock worth $10,220,816 in the last ninety days. 1.78% of the stock is currently owned by company insiders.

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.