Millennium Management LLC Increases Position in Plexus Corp. $PLXS

Millennium Management LLC lifted its position in shares of Plexus Corp. (NASDAQ:PLXS) by 85.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 228,116 shares of the technology company’s stock after acquiring an additional 104,904 shares during the quarter. Millennium Management LLC owned 0.84% of Plexus worth $29,229,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc boosted its stake in shares of Plexus by 1,000.0% during the 1st quarter. Versant Capital Management Inc now owns 473 shares of the technology company’s stock worth $61,000 after acquiring an additional 430 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Plexus by 185.6% during the 1st quarter. TD Private Client Wealth LLC now owns 514 shares of the technology company’s stock worth $66,000 after acquiring an additional 334 shares in the last quarter. Banque Transatlantique SA purchased a new stake in shares of Plexus during the 1st quarter worth about $71,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Plexus during the 1st quarter worth about $87,000. Finally, Blue Trust Inc. boosted its stake in shares of Plexus by 49.2% during the 1st quarter. Blue Trust Inc. now owns 846 shares of the technology company’s stock worth $108,000 after acquiring an additional 279 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 1,576 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $137.78, for a total value of $217,141.28. Following the completion of the sale, the chief accounting officer owned 24,495 shares in the company, valued at approximately $3,374,921.10. This represents a 6.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Oliver K. Mihm sold 2,102 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $130.43, for a total transaction of $274,163.86. Following the completion of the sale, the chief operating officer owned 21,155 shares of the company’s stock, valued at approximately $2,759,246.65. The trade was a 9.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,356 shares of company stock worth $1,926,890 in the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Plexus Stock Up 2.3%

PLXS stock opened at $140.78 on Friday. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 23.98 and a beta of 0.82. The company has a current ratio of 1.58, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. Plexus Corp. has a 12 month low of $103.43 and a 12 month high of $172.89. The firm has a 50-day moving average of $133.34 and a two-hundred day moving average of $129.93.

Plexus (NASDAQ:PLXS) last released its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Plexus had a net margin of 4.04% and a return on equity of 12.33%. Plexus’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.45 EPS. Plexus has set its Q4 2025 guidance at 1.820-1.970 EPS. As a group, analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PLXS has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Plexus from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 16th. Benchmark restated a “buy” rating and set a $160.00 price target on shares of Plexus in a research report on Wednesday, June 4th. Needham & Company LLC reduced their price target on shares of Plexus from $162.00 to $158.00 and set a “buy” rating for the company in a research report on Thursday, July 24th. Stifel Nicolaus set a $140.00 price target on shares of Plexus in a research report on Thursday, July 24th. Finally, Sidoti upgraded shares of Plexus from a “neutral” rating to a “buy” rating and upped their price target for the stock from $135.00 to $150.00 in a research report on Friday, July 25th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Plexus currently has an average rating of “Moderate Buy” and an average price target of $152.00.

Plexus Company Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.