Bank of New York Mellon Corp Sells 4,245 Shares of Plexus Corp. $PLXS

Bank of New York Mellon Corp lessened its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,660 shares of the technology company’s stock after selling 4,245 shares during the quarter. Bank of New York Mellon Corp owned about 0.67% of Plexus worth $36,591,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Covestor Ltd lifted its position in Plexus by 207.7% during 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 grew its position in Plexus by 70.1% in the 3rd quarter. Allworth Financial LP now owns 250 shares of the technology company’s stock worth $36,000 after purchasing an additional 103 shares during the period. Johnson Financial Group Inc. bought a new stake in Plexus in the 3rd quarter worth approximately $72,000. Farther Finance Advisors LLC raised its stake in Plexus by 114.7% during the 4th quarter. Farther Finance Advisors LLC now owns 511 shares of the technology company’s stock valued at $75,000 after buying an additional 273 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Plexus by 583.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 574 shares of the technology company’s stock valued at $78,000 after buying an additional 490 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $294.98, for a total transaction of $442,470.00. Following the transaction, the chief executive officer directly owned 68,888 shares in the company, valued at approximately $20,320,582.24. The trade was a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael J. Running sold 510 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $272.17, for a total value of $138,806.70. Following the sale, the insider directly owned 665 shares of the company’s stock, valued at $180,993.05. This represents a 43.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 20,481 shares of company stock valued at $5,519,183. Company insiders own 1.78% of the company’s stock.

Plexus Stock Performance

Shares of NASDAQ PLXS opened at $254.45 on Friday. Plexus Corp. has a 12-month low of $121.06 and a 12-month high of $307.06. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 37.20 and a beta of 0.88. The company has a current ratio of 1.54, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $274.40 and a 200 day moving average of $230.60.

Plexus (NASDAQ:PLXS) last released its quarterly 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. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Plexus had a net margin of 4.35% and a return on equity of 12.84%. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period last year, the firm earned $1.66 earnings per share. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. On average, research analysts anticipate that Plexus Corp. will post 5.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded Plexus from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Stifel Nicolaus lifted their price objective on Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Zacks Research upgraded Plexus from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Raymond James Financial reissued an “outperform” rating and issued a $275.00 target price on shares of Plexus in a report on Thursday, April 30th. Finally, Weiss Ratings raised Plexus from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $246.67.

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.