VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $677,000 Investment in Plexus Corp. $PLXS

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Plexus Corp. (NASDAQ:PLXS) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 2,250 shares of the technology company’s stock, valued at approximately $677,000.

Other hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System boosted its stake in Plexus by 29,890.4% in the 2nd quarter. California State Teachers Retirement System now owns 9,414,880 shares of the technology company’s stock valued at $2,830,772,000 after buying an additional 9,383,487 shares in the last quarter. BlackRock Inc. bought a new stake in Plexus in the second quarter valued at $1,311,631,000. Bank of America Corp DE acquired a new position in Plexus during the second quarter worth $60,281,000. Bank of New York Mellon Corp acquired a new position in Plexus during the second quarter worth $55,525,000. Finally, Emerald Advisers LLC bought a new position in shares of Plexus during the first quarter valued at $33,729,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Stock Down 6.2%

Shares of NASDAQ:PLXS opened at $239.63 on Tuesday. The company has a 50 day moving average of $254.11 and a 200-day moving average of $247.67. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 35.34 and a beta of 0.89. Plexus Corp. has a one year low of $132.03 and a one 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 0.72.

Plexus (NASDAQ:PLXS) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.19. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.23 billion. Plexus had a net margin of 4.03% and a return on equity of 12.46%. Plexus’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same period last year, the company posted $1.64 EPS. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. On average, sell-side analysts forecast that Plexus Corp. will post 7.11 earnings per share for the current year.

Analyst Ratings Changes

PLXS has been the topic of several recent analyst reports. Sidoti upgraded shares of Plexus from a “neutral” rating to a “buy” rating and set a $308.00 target price on the stock in a research note on Friday, July 31st. Weiss Ratings cut shares of Plexus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 9th. Zacks Research upgraded shares of Plexus from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $310.00 price objective on shares of Plexus in a research note on Friday, August 14th. Finally, Stifel Nicolaus raised their price objective on shares of Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $273.00.

Insider Transactions at Plexus

In related news, CEO Todd Kelsey sold 1,500 shares of Plexus stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $294.98, for a total value of $442,470.00. Following the sale, the chief executive officer owned 68,888 shares of the company’s stock, valued at approximately $20,320,582.24. This trade represents a 2.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Karen Rapp sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $240.87, for a total value of $120,435.00. Following the completion of the sale, the director owned 7,535 shares in the company, valued at $1,814,955.45. The trade was a 6.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,500 shares of company stock valued at $2,039,375 over the last three months. Company insiders own 1.78% of the company’s stock.

About Plexus

Plexus Corp. is a global electronics manufacturing services company that designs, manufactures and services products for original equipment manufacturers. The company supports customers across the product life cycle, from product development and engineering to supply chain management, assembly, testing, fulfillment and aftermarket services.

Plexus provides solutions for industries including healthcare and life sciences, industrial and commercial, aerospace and defense, and communications.