Cubist Systematic Strategies LLC Purchases 26,171 Shares of Plexus Corp. $PLXS

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Plexus Corp. by 70.2%, acquiring an additional 26,171 shares to reach a total of 63,430 shares, valued at approximately $8.1 million.
• Several institutional investors, including Aquatic Capital Management LLC and Versant Capital Management Inc, significantly raised their stakes in Plexus Corp., indicating broader investor confidence in the company.
• Plexus Corp. reported a quarterly EPS of $1.90, exceeding analyst expectations, with revenues of $1.02 billion, contributing to a 6% increase compared to the previous year.

Cubist Systematic Strategies LLC grew its holdings in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 70.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,430 shares of the technology company's stock after acquiring an additional 26,171 shares during the period. Cubist Systematic Strategies LLC owned 0.23% of Plexus worth $8,127,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PLXS. Aquatic Capital Management LLC boosted its stake in Plexus by 134.0% during the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock valued at $37,000 after purchasing an additional 134 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of 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 buying an additional 430 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Plexus by 185.6% during the 1st quarter. TD Private Client Wealth LLC now owns 514 shares of the technology company's stock worth $66,000 after buying an additional 334 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Plexus during the 1st quarter worth approximately $87,000. Finally, Blue Trust Inc. grew its stake in Plexus by 49.2% in the 1st quarter. Blue Trust Inc. now owns 846 shares of the technology company's stock valued at $108,000 after buying an additional 279 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Plexus from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 16th. Sidoti upgraded shares of Plexus from a "neutral" rating to a "buy" rating and boosted their price target for the company from $135.00 to $150.00 in a research report on Friday, July 25th. Stifel Nicolaus set a $140.00 price target on shares of Plexus in a research report on Thursday, July 24th. Needham & Company LLC reduced their price target 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, Benchmark reiterated a "buy" rating and issued a $160.00 target price on shares of Plexus in a research report on Wednesday, June 4th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $152.00.

Insider Activity at Plexus

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 1,576 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $137.78, for a total transaction of $217,141.28. Following the transaction, the chief accounting officer owned 24,495 shares in the company, valued at $3,374,921.10. This represents a 6.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $134.54, for a total transaction of $201,810.00. Following the transaction, the chief executive officer owned 70,714 shares in the company, valued at $9,513,861.56. This represents a 2.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,356 shares of company stock valued at $1,926,890 over the last quarter. 1.76% of the stock is owned by company insiders.

Plexus Stock Down 0.8%

PLXS traded down $1.14 during midday trading on Monday, reaching $137.83. The company's stock had a trading volume of 16,167 shares, compared to its average volume of 175,616. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 23.56 and a beta of 0.82. The company has a current ratio of 1.58, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. Plexus Corp. has a 1 year low of $103.43 and a 1 year high of $172.89. The stock's 50-day moving average is $133.31 and its 200-day moving average is $129.79.

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

Plexus Company 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.