KLP Kapitalforvaltning AS Sells 5,600 Shares of Plexus Corp. $PLXS

KLP Kapitalforvaltning AS lessened its holdings in Plexus Corp. (NASDAQ:PLXS) by 49.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,800 shares of the technology company’s stock after selling 5,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in Plexus were worth $839,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Salomon & Ludwin LLC bought a new position in Plexus in the third quarter worth approximately $30,000. Huntington National Bank raised its position in shares of 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 acquiring an additional 95 shares in the last quarter. CWM LLC lifted its stake in shares of Plexus by 65.7% during the 2nd quarter. CWM LLC now owns 537 shares of the technology company’s stock worth $73,000 after purchasing an additional 213 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Plexus by 583.3% during 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 in the last quarter. Finally, TD Private Client Wealth LLC boosted its position in Plexus by 31.5% during the second quarter. TD Private Client Wealth LLC now owns 676 shares of the technology company’s stock valued at $91,000 after purchasing an additional 162 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Benchmark reissued a “buy” rating and set a $165.00 price target on shares of Plexus in a research report on Friday, October 24th. Sidoti cut shares of Plexus from a “buy” rating to a “neutral” rating and set a $150.00 target price for the company. in a research report on Friday, October 24th. Williams Trading set a $165.00 price target on shares of Plexus in a report on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Plexus in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $150.00 price objective on Plexus in a research report on Friday, October 24th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $159.00.

Plexus Stock Up 7.5%

NASDAQ:PLXS opened at $172.35 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. Plexus Corp. has a twelve month low of $103.43 and a twelve month high of $172.89. The company has a market cap of $4.61 billion, a PE ratio of 27.53 and a beta of 0.81. The company’s 50 day moving average is $149.49 and its two-hundred day moving average is $141.91.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.30. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Plexus had a net margin of 4.29% and a return on equity of 12.77%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $1.85 earnings per share. Plexus has set its Q1 2026 guidance at 1.660-1.810 EPS. Analysts anticipate that Plexus Corp. will post 5.9 EPS for the current year.

Insider Activity at Plexus

In related news, CFO Patrick John Jermain sold 2,000 shares of Plexus stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $143.53, for a total transaction of $287,060.00. Following the completion of the sale, the chief financial officer owned 16,961 shares of the company’s stock, valued at $2,434,412.33. The trade was a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Oliver K. Mihm sold 2,327 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $143.18, for a total value of $333,179.86. Following the completion of the sale, the chief operating officer owned 18,442 shares in the company, valued at approximately $2,640,525.56. This represents a 11.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,672 shares of company stock worth $1,668,190 in the last quarter. 1.78% of the stock is owned by insiders.

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.