Victory Capital Management Inc. Sells 29,007 Shares of Plexus Corp. $PLXS

Victory Capital Management Inc. trimmed its holdings in shares of Plexus Corp. (NASDAQ:PLXS) by 16.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,774 shares of the technology company’s stock after selling 29,007 shares during the period. Victory Capital Management Inc. owned about 0.56% of Plexus worth $21,960,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PLXS. Salomon & Ludwin LLC bought a new stake in shares of Plexus in the 3rd quarter valued at about $30,000. Huntington National Bank increased its stake in Plexus by 41.5% in the 2nd quarter. Huntington National Bank now owns 324 shares of the technology company’s stock worth $44,000 after purchasing an additional 95 shares during the period. EverSource Wealth Advisors LLC lifted 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 valued at $78,000 after purchasing an additional 490 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Plexus by 33.0% during the third quarter. Smartleaf Asset Management LLC now owns 806 shares of the technology company’s stock valued at $115,000 after purchasing an additional 200 shares during the period. Finally, Corient Private Wealth LLC purchased a new stake in shares of Plexus during the second quarter valued at approximately $210,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Price Performance

Shares of Plexus stock opened at $191.58 on Tuesday. The business has a 50 day moving average of $184.80 and a 200 day moving average of $158.65. Plexus Corp. has a 52 week low of $103.43 and a 52 week high of $211.84. The company has a market cap of $5.13 billion, a PE ratio of 29.79 and a beta of 0.81. The company has a quick ratio of 0.75, a current ratio of 1.59 and a debt-to-equity ratio of 0.06.

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

Insider Activity at Plexus

In related news, COO Oliver K. Mihm sold 9,541 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $201.40, for a total transaction of $1,921,557.40. Following the transaction, the chief operating officer owned 12,809 shares in the company, valued at $2,579,732.60. The trade was a 42.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 8,120 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $205.65, for a total transaction of $1,669,878.00. Following the completion of the sale, the chief executive officer owned 78,598 shares of the company’s stock, valued at $16,163,678.70. This trade represents a 9.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 47,995 shares of company stock valued at $9,718,476 over the last three months. Corporate insiders own 1.78% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on PLXS shares. Wall Street Zen downgraded shares of Plexus from a “buy” rating to a “hold” rating in a research note on Sunday. Williams Trading set a $195.00 price target on shares of Plexus in a research report on Wednesday, January 28th. Weiss Ratings raised shares of Plexus from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Needham & Company LLC upped their price objective on shares of Plexus from $165.00 to $206.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Benchmark increased their target price on shares of Plexus from $165.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $189.20.

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.