Alyeska Investment Group L.P. Invests $10.46 Million in Plexus Corp. $PLXS

Key Points

• Alyeska Investment Group L.P. acquired 81,624 shares of Plexus Corp. valued at approximately $10.46 million, representing a new investment in the technology company.
• After recent transactions, institutional investors and hedge funds now own 94.45% of Plexus's stock, highlighting significant institutional interest in the company's shares.
• Plexus Corp. reported an earnings per share (EPS) of $1.90 for the last quarter, exceeding analysts' estimates, with a revenue of $1.02 billion, indicating a 6% year-over-year increase.

Alyeska Investment Group L.P. acquired a new position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 81,624 shares of the technology company's stock, valued at approximately $10,458,000. Alyeska Investment Group L.P. owned approximately 0.30% of Plexus at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Versant Capital Management Inc grew its holdings in Plexus by 1,000.0% during the 1st quarter. Versant Capital Management Inc now owns 473 shares of the technology company's stock worth $61,000 after acquiring an additional 430 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Plexus by 185.6% during the first quarter. TD Private Client Wealth LLC now owns 514 shares of the technology company's stock worth $66,000 after acquiring an additional 334 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in Plexus during the first quarter worth $87,000. Blue Trust Inc. boosted its stake in Plexus by 49.2% during the first quarter. Blue Trust Inc. now owns 846 shares of the technology company's stock worth $108,000 after acquiring an additional 279 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Plexus during the first quarter worth $121,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $134.54, for a total value of $201,810.00. Following the completion of the transaction, the chief executive officer directly owned 70,714 shares in the company, valued at $9,513,861.56. This represents a 2.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Oliver K. Mihm sold 2,102 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $130.43, for a total value of $274,163.86. Following the sale, the chief operating officer directly owned 21,155 shares in the company, valued at $2,759,246.65. This trade represents a 9.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,356 shares of company stock worth $1,926,890 in the last quarter. 1.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PLXS has been the subject of several analyst reports. Stifel Nicolaus set a $140.00 target price on shares of Plexus in a report on Thursday, July 24th. Benchmark restated a "buy" rating and set a $160.00 price target on shares of Plexus in a research report on Wednesday, June 4th. Wall Street Zen lowered shares of Plexus from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 16th. Needham & Company LLC cut their target price on shares of Plexus from $162.00 to $158.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. Finally, Sidoti upgraded shares of Plexus from a "neutral" rating to a "buy" rating and raised their price objective for the company from $135.00 to $150.00 in a research report on Friday, July 25th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $152.00.

Plexus Stock Up 0.5%

Shares of PLXS stock traded up $0.68 during mid-day trading on Wednesday, reaching $137.19. 20,757 shares of the company's stock traded hands, compared to its average volume of 175,178. Plexus Corp. has a 12 month low of $103.43 and a 12 month high of $172.89. The company has a market cap of $3.70 billion, a P/E ratio of 23.37 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 1.58 and a debt-to-equity ratio of 0.06. The company's 50-day moving average price is $133.35 and its 200-day moving average price is $129.84.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.19. Plexus had a return on equity of 12.33% and a net margin of 4.04%.The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm earned $1.45 EPS. Plexus's quarterly revenue was up 6.0% compared to the same quarter last year. Plexus has set its Q4 2025 guidance at 1.820-1.970 EPS. On average, equities analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Plexus Profile

Plexus Corp. provides electronic manufacturing services in the United States and internationally. It offers design, develop, supply chain, new product introduction, and manufacturing solutions, as well as sustaining services to companies in the healthcare/life sciences, industrial/commercial, aerospace/defense, and communications market sectors.