Caxton Associates LLP Acquires New Stake in Plexus Corp. $PLXS

Key Points

• Caxton Associates LLP acquired 16,116 shares of Plexus Corp., valued at approximately $2,065,000, during the first quarter, marking a 0.06% ownership stake in the company.
• Institutional investors collectively own 94.45% of Plexus stock, with notable movements including GAMMA Investing LLC increasing its stake by 49.6%.
• Plexus Corp. reported quarterly earnings topping expectations with $1.90 EPS, and analysts maintain a consensus rating of "Moderate Buy" with an average target price of $152.00.

Caxton Associates LLP bought a new position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 16,116 shares of the technology company's stock, valued at approximately $2,065,000. Caxton Associates LLP owned 0.06% of Plexus at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Plexus by 49.6% during the 1st quarter. GAMMA Investing LLC now owns 1,333 shares of the technology company's stock worth $171,000 after buying an additional 442 shares during the period. SG Americas Securities LLC acquired a new position in Plexus during the 1st quarter worth about $917,000. Ritholtz Wealth Management acquired a new position in Plexus during the 1st quarter worth about $285,000. Deutsche Bank AG lifted its holdings in Plexus by 22.8% during the 1st quarter. Deutsche Bank AG now owns 47,997 shares of the technology company's stock worth $6,150,000 after buying an additional 8,921 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Plexus during the 1st quarter worth about $121,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Stifel Nicolaus set a $140.00 price objective on Plexus in a research note on Thursday, July 24th. Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of Plexus in a research note on Wednesday, June 4th. Needham & Company LLC dropped their price objective on Plexus from $162.00 to $158.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Wall Street Zen downgraded Plexus from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Finally, Sidoti raised Plexus from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $135.00 to $150.00 in a research note 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $152.00.

Plexus Stock Down 1.9%

PLXS traded down $2.72 during midday trading on Friday, reaching $138.06. 184,207 shares of the company were exchanged, compared to its average volume of 176,102. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.58. The company's fifty day moving average price is $133.34 and its 200 day moving average price is $129.93. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 23.52 and a beta of 0.82. Plexus Corp. has a one year low of $103.43 and a one year high of $172.89.

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

Insider Buying and Selling

In other news, CFO Patrick John Jermain sold 2,500 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $137.71, for a total value of $344,275.00. Following the completion of the transaction, the chief financial officer directly owned 20,959 shares of the company's stock, valued at $2,886,263.89. This represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Oliver K. Mihm sold 2,102 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $130.43, for a total value of $274,163.86. Following the completion of the transaction, the chief operating officer directly owned 21,155 shares of the company's stock, valued at approximately $2,759,246.65. This 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 valued at $1,926,890 over the last quarter. Corporate insiders own 1.76% of the company's stock.

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.