PNC Financial Services Group Inc. Purchases 2,497 Shares of Plexus Corp. $PLXS

PNC Financial Services Group Inc. increased its position in Plexus Corp. (NASDAQ:PLXS) by 80.0% in the first quarter, HoldingsChannel reports. The firm owned 5,620 shares of the technology company’s stock after purchasing an additional 2,497 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Plexus were worth $1,138,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Covestor Ltd grew its stake in Plexus by 207.7% in the fourth quarter. Covestor Ltd now owns 240 shares of the technology company’s stock worth $35,000 after purchasing an additional 162 shares during the period. Allworth Financial LP lifted its position in Plexus by 20.8% during the fourth quarter. Allworth Financial LP now owns 302 shares of the technology company’s stock valued at $44,000 after buying an additional 52 shares during the period. Johnson Financial Group Inc. purchased a new position in Plexus during the third quarter valued at $72,000. Farther Finance Advisors LLC boosted its holdings in shares of 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 in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of 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 in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PLXS. Stifel Nicolaus increased their price target on shares of Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Weiss Ratings upgraded shares of Plexus from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, July 6th. Sidoti raised shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 target price for the company in a research note on Friday. Wall Street Zen upgraded shares of Plexus from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $275.00 price target on shares of Plexus in a research report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $273.00.

Insiders Place Their Bets

In other news, insider Victor (Pang Hau) Tan sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $271.23, for a total value of $813,690.00. Following the transaction, the insider owned 10,457 shares in the company, valued at approximately $2,836,252.11. This represents a 22.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Angelo Michael Ninivaggi, Jr. sold 3,270 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $264.75, for a total transaction of $865,732.50. Following the sale, the executive vice president owned 16,266 shares in the company, valued at approximately $4,306,423.50. The trade was a 16.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 20,481 shares of company stock valued at $5,519,183. Insiders own 1.78% of the company’s stock.

Plexus Price Performance

Shares of NASDAQ:PLXS opened at $251.34 on Friday. Plexus Corp. has a 1-year low of $124.49 and a 1-year high of $307.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.49 and a quick ratio of 0.74. The business has a fifty day moving average price of $273.36 and a 200-day moving average price of $233.81. The company has a market capitalization of $6.73 billion, a PE ratio of 37.07 and a beta of 0.88.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.19. Plexus had a net margin of 4.03% and a return on equity of 12.46%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the business posted $1.64 EPS. Plexus’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. As a group, equities analysts expect that Plexus Corp. will post 5.98 EPS for the current fiscal year.

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.