Tocqueville Asset Management L.P. Purchases New Position in Plexus Corp. $PLXS

Key Points

• Tocqueville Asset Management acquired 5,800 Plexus shares worth approximately $1.74 million during the second quarter. Institutional investors now own 94.45% of the company.
• Analyst sentiment remains positive: Plexus has an average “Buy” rating and a $273 price target, while Stifel Nicolaus raised its target to $330.
• Plexus reported quarterly earnings of $2.32 per share and revenue of $1.30 billion, beating estimates and marking 28.2% year-over-year revenue growth. The stock opened at $241.91, down 1.0%.

Tocqueville Asset Management L.P. acquired a new position in Plexus Corp. (NASDAQ:PLXS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,800 shares of the technology company's stock, valued at approximately $1,744,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hodges Capital Management Inc. raised its holdings in shares of Plexus by 47.7% during the 4th quarter. Hodges Capital Management Inc. now owns 17,950 shares of the technology company's stock valued at $2,639,000 after purchasing an additional 5,795 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Plexus in the 1st quarter valued at $2,410,000. Jefferies Financial Group Inc. bought a new stake in Plexus in the fourth quarter worth $2,182,000. Walleye Capital LLC bought a new stake in Plexus in the second quarter worth $8,296,000. Finally, GSA Capital Partners LLP increased its position 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 buying an additional 8,999 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Stifel Nicolaus raised their target price on Plexus from $280.00 to $330.00 and gave the company a "buy" rating in a report on Monday, June 22nd. Zacks Research upgraded Plexus from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 11th. Weiss Ratings lowered Plexus from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Wall Street Zen raised Plexus from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Finally, Raymond James Financial restated an "outperform" rating and issued a $275.00 target price on shares of Plexus in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat.com, Plexus currently has an average rating of "Buy" and an average price target of $273.00.

Insider Buying and Selling at Plexus

In other Plexus news, insider Michael J. Running sold 510 shares of Plexus stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $272.17, for a total value of $138,806.70. Following the transaction, the insider directly owned 665 shares of the company's stock, valued at $180,993.05. The trade was a 43.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael V. Schrock sold 4,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $275.00, for a total value of $1,100,000.00. Following the transaction, the director owned 40,329 shares of the company's stock, valued at approximately $11,090,475. This trade represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,510 shares of company stock valued at $2,622,497 in the last 90 days. 1.78% of the stock is currently owned by insiders.

Plexus Stock Down 1.0%

PLXS stock opened at $241.91 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.49 and a quick ratio of 0.72. Plexus Corp. has a 52-week low of $126.86 and a 52-week high of $307.06. The company has a 50-day moving average of $270.14 and a two-hundred day moving average of $242.61. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 35.68 and a beta of 0.90.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.32 EPS for the quarter, topping analysts' consensus estimates of $2.13 by $0.19. Plexus had a return on equity of 12.46% and a net margin of 4.03%.The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The firm's revenue for the quarter was up 28.2% on a year-over-year basis. Plexus has set its Q4 2026 guidance at 2.470-2.630 EPS. As a group, equities research analysts anticipate that Plexus Corp. will post 7.11 EPS for the current year.

Plexus 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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