What’s Driving Plexus Corp. (PLXS)’s Business Growth?
Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” second-quarter 2023 investor letter, a copy of which can be downloaded here. In the second quarter, the portfolio gained +1.7% (net) lagging behind R2000V’s +3.2% gain and R2500V’s +4.4% increase. In the quarter, quality factors were under pressure. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Bernzott Capital Advisors highlighted stocks like Plexus Corp. (NASDAQ:PLXS) in the second quarter 2023 investor letter. Headquartered in Neenah, Wisconsin, Plexus Corp. (NASDAQ:PLXS) is an electronic manufacturing services provider. On July 20, 2023, Plexus Corp. (NASDAQ:PLXS) stock closed at $101.56 per share. One-month return of Plexus Corp. (NASDAQ:PLXS) was 9.03%, and its shares gained 19.58% of their value over the last 52 weeks. Plexus Corp. (NASDAQ:PLXS) has a market capitalization of $2.808 billion.
Bernzott Capital Advisors made the following comment about Plexus Corp. (NASDAQ:PLXS) in its second quarter 2023 investor letter:
"Plexus Corp. (NASDAQ:PLXS): The company provides outsourced electronic manufacturing services from 28 facilities globally. It focuses on industrial, health care/life sciences, and aerospace and defense end markets and targets customer products which are complex and involve demanding regulatory environments. ROIC is a prominent metric in management's incentive compensation which speaks to business quality. After a couple years of supply chain turbulence, customers will likely refocus on outsourcing plans and that will drive new business. An uptick in its new business funnel suggests this is underway, which is an early indicator of future earnings growth."
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Plexus Corp. (NASDAQ:PLXS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Plexus Corp. (NASDAQ:PLXS) at the end of first quarter which was 19 in the previous quarter.
We discussed Plexus Corp. (NASDAQ:PLXS) in another article and shared Carillon Tower Advisers' views on the company. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
