51,998 Shares in Plexus Corp. $PLXS Acquired by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP opened a new position in Plexus Corp., buying 51,998 shares valued at about $7.64 million in the fourth quarter.
• Plexus continues to attract institutional interest, with hedge funds and other investors owning 94.45% of the stock; several firms, including American Century and JPMorgan, also increased their stakes.
• Analysts remain mostly constructive on the stock despite mixed sentiment, with an average rating of “Moderate Buy” and a consensus price target of $238.33, while recent results showed earnings and revenue beating expectations.

Concentric Capital Strategies LP bought a new position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 51,998 shares of the technology company's stock, valued at approximately $7,644,000. Concentric Capital Strategies LP owned about 0.19% of Plexus as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Hodges Capital Management Inc. lifted its stake in Plexus by 47.7% during the fourth quarter. Hodges Capital Management Inc. now owns 17,950 shares of the technology company's stock worth $2,639,000 after purchasing an additional 5,795 shares during the last quarter. American Century Companies Inc. lifted its stake in Plexus by 44.2% during the third quarter. American Century Companies Inc. now owns 1,103,892 shares of the technology company's stock worth $159,722,000 after purchasing an additional 338,119 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Plexus by 28.3% during the third quarter. JPMorgan Chase & Co. now owns 240,460 shares of the technology company's stock worth $34,792,000 after purchasing an additional 52,967 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Plexus by 159.6% during the fourth quarter. GSA Capital Partners LLP now owns 14,638 shares of the technology company's stock worth $2,152,000 after purchasing an additional 8,999 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in Plexus during the fourth quarter worth approximately $2,182,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

PLXS has been the subject of several recent analyst reports. Zacks Research cut Plexus from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded Plexus from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Raymond James Financial restated an "outperform" rating and set a $275.00 target price on shares of Plexus in a research note on Thursday, April 30th. Stifel Nicolaus set a $280.00 target price on Plexus in a research note on Tuesday, May 26th. Finally, Needham & Company LLC boosted their price objective on Plexus from $285.00 to $310.00 and gave the company a "buy" rating in a research note on Monday, June 1st. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $238.33.

Plexus Price Performance

Shares of NASDAQ PLXS opened at $294.03 on Thursday. The company has a current ratio of 1.54, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. Plexus Corp. has a twelve month low of $115.35 and a twelve month high of $302.29. The stock has a 50 day moving average of $258.73 and a two-hundred day moving average of $208.09. The stock has a market cap of $7.87 billion, a P/E ratio of 42.99 and a beta of 0.89.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.87 by $0.18. Plexus had a return on equity of 12.84% and a net margin of 4.35%.The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the business earned $1.66 earnings per share. The firm's revenue for the quarter was up 18.7% on a year-over-year basis. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. On average, research analysts forecast that Plexus Corp. will post 5.98 earnings per share for the current year.

Insider Transactions at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $290.00, for a total value of $290,000.00. Following the completion of the sale, the chief executive officer owned 70,388 shares in the company, valued at approximately $20,412,520. The trade was a 1.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Running sold 510 shares of the business's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $272.17, for a total value of $138,806.70. Following the completion of the transaction, the insider directly owned 665 shares in the company, valued at approximately $180,993.05. The trade was a 43.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,481 shares of company stock worth $5,412,848 in the last three months. Corporate insiders own 1.78% of the company's stock.

Plexus Company Profile

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.

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