XTX Topco Ltd Invests $1.09 Million in Plexus Corp. (NASDAQ:PLXS)

Key Points

• XTX Topco Ltd has acquired 8,526 shares of Plexus Corp. valued at approximately $1,092,000, as disclosed in their 13F filing with the SEC.
• Plexus Corp.'s stock opened at $125.16 and has a market capitalization of $3.39 billion, with a 52-week range between $103.43 and $172.89.
• A number of analysts have updated their ratings for Plexus, with Sidoti upgrading the stock from "neutral" to "buy" and raising the target price from $135.00 to $150.00.

XTX Topco Ltd acquired a new position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,526 shares of the technology company's stock, valued at approximately $1,092,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC raised its stake in Plexus by 134.0% in the fourth 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 in the last quarter. Versant Capital Management Inc grew its holdings in shares of Plexus by 1,000.0% during the first quarter. Versant Capital Management Inc now owns 473 shares of the technology company's stock worth $61,000 after purchasing an additional 430 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in shares of 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 purchasing an additional 334 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in Plexus in the first quarter valued at approximately $87,000. Finally, Blue Trust Inc. lifted its stake in Plexus by 49.2% in the first quarter. Blue Trust Inc. now owns 846 shares of the technology company's stock valued at $108,000 after buying an additional 279 shares during the period. 94.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Stifel Nicolaus set a $140.00 price objective on Plexus in a research note on Thursday, July 24th. Needham & Company LLC dropped their price target on Plexus from $162.00 to $158.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Sidoti upgraded Plexus from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $135.00 to $150.00 in a research note on Friday, July 25th. Benchmark reissued a "buy" rating and set a $160.00 price target on shares of Plexus in a report on Wednesday, June 4th. Finally, Wall Street Zen upgraded Plexus from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 30th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.00.

Plexus Stock Up 0.7%

PLXS stock traded up $0.91 during trading hours on Tuesday, hitting $130.53. The company's stock had a trading volume of 211,911 shares, compared to its average volume of 229,137. 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 stock has a 50 day moving average price of $132.77 and a two-hundred day moving average price of $131.78. The company has a market capitalization of $3.52 billion, a PE ratio of 22.24 and a beta of 0.80. Plexus Corp. has a 12 month low of $103.43 and a 12 month high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $1.90 earnings per share for the quarter, topping 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 business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the company earned $1.45 earnings per share. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts expect that Plexus Corp. will post 5.9 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Patrick John Jermain sold 4,328 shares of Plexus stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $132.29, for a total transaction of $572,551.12. Following the sale, the chief financial officer directly owned 25,637 shares in the company, valued at $3,391,518.73. The trade was a 14.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 2,000 shares of Plexus stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $131.68, for a total value of $263,360.00. Following the transaction, the chief executive officer directly owned 76,714 shares of the company's stock, valued at $10,101,699.52. The trade was a 2.54% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,032 shares of company stock worth $1,582,222 over the last quarter. Corporate insiders own 1.76% of the company's stock.

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.