Texas Teacher Retirement Cuts Stake in Plexus Corp. Amid Market Shifts

The Teacher Retirement System of Texas has reduced its holdings in Plexus Corp. (NASDAQ: PLXS) by 1.7% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), the institutional investor now owns 46,460 shares of the technology firm after selling 802 shares. This stake is valued at approximately $6.29 million, representing about 0.17% of Plexus.

Several other institutional investors and hedge funds have also adjusted their positions in Plexus recently. Notably, TD Private Client Wealth LLC increased its holdings by an impressive 185.6% during the first quarter, now owning 514 shares valued at $66,000 after acquiring an additional 334 shares. Additionally, Banque Transatlantique SA established a new position valued at around $71,000 in the same quarter.

CWM LLC enhanced its stake by 65.7% in the second quarter, bringing its total to 537 shares worth $73,000. N.E.W. Advisory Services LLC and Meeder Asset Management Inc. also entered new positions in Plexus, valued at approximately $87,000 and $121,000, respectively. Overall, institutional investors control 94.45% of Plexus Corp’s stock.

Insider Transactions and Market Performance

In recent insider activity, Chief Accounting Officer Angelo Michael Ninivaggi, Jr. sold 1,576 shares of Plexus on August 25, 2023, at an average price of $137.78. This transaction totaled $217,141.28, reducing his ownership to 24,495 shares valued at around $3.37 million. Similarly, Chief Financial Officer Patrick John Jermain sold 2,500 shares on August 27, 2023, for $344,275.00, resulting in a decrease of 10.66% in his holdings.

Over the past ninety days, insiders have sold a combined 16,354 shares valued at $2.24 million. Corporate insiders currently own 1.76% of the company’s stock.

Plexus Corp. opened trading at $141.08 on Friday. The company maintains a debt-to-equity ratio of 0.06, a quick ratio of 0.77, and a current ratio of 1.58. The stock has displayed a 50-day moving average price of $141.97 and a 200-day moving average price of $134.56. With a market capitalization of $3.81 billion, Plexus has a price-to-earnings ratio of 22.54 and a beta of 0.80. The stock’s one-year low stands at $103.43, while its high reached $172.89.

On October 22, 2023, Plexus reported strong earnings results, delivering $2.14 earnings per share (EPS) for the quarter, surpassing analysts’ expectations of $1.84 by $0.30. The company generated revenue of $1.06 billion, slightly exceeding the forecast of $1.05 billion. Plexus achieved a return on equity of 12.77% and a net margin of 4.29%, marking a year-over-year revenue increase of 0.7%. Looking ahead, the firm has set its Q1 2026 EPS guidance at $1.660-1.810.

Equities research analysts forecast that Plexus Corp. will post $5.90 EPS for the current fiscal year, reflecting ongoing confidence in the company’s growth trajectory.