Cibc World Markets Corp Acquires New Position in Plexus Corp. (NASDAQ:PLXS)

Cibc World Markets Corp bought a new position in Plexus Corp. (NASDAQ:PLXS) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,508 shares of the technology company’s stock, valued at approximately $392,000.

A number of other institutional investors have also modified their holdings of PLXS. Natixis Advisors LLC increased its holdings in Plexus by 13.4% during the 3rd quarter. Natixis Advisors LLC now owns 18,923 shares of the technology company’s stock worth $2,587,000 after purchasing an additional 2,235 shares during the period. Advisors Asset Management Inc. grew its position in shares of Plexus by 85.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 664 shares of the technology company’s stock worth $91,000 after buying an additional 305 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Plexus during the third quarter valued at $755,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Plexus by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 421,903 shares of the technology company’s stock valued at $57,678,000 after acquiring an additional 2,886 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in Plexus by 65.9% in the third quarter. Citigroup Inc. now owns 35,569 shares of the technology company’s stock worth $4,863,000 after acquiring an additional 14,129 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $145.14, for a total transaction of $496,814.22. Following the sale, the chief accounting officer now directly owns 29,501 shares of the company’s stock, valued at $4,281,775.14. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total value of $234,585.00. Following the completion of the transaction, the chief executive officer now owns 74,271 shares of the company’s stock, valued at $11,615,241.69. This trade represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,458 shares of company stock valued at $2,786,515. 1.76% of the stock is currently owned by corporate insiders.

Plexus Stock Down 0.7 %

NASDAQ:PLXS opened at $128.21 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. The stock has a market capitalization of $3.47 billion, a P/E ratio of 29.75 and a beta of 0.90. The company’s 50-day simple moving average is $140.08 and its 200-day simple moving average is $145.71. Plexus Corp. has a fifty-two week low of $90.87 and a fifty-two week high of $172.89.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. On average, equities analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Benchmark reissued a “buy” rating and set a $165.00 target price on shares of Plexus in a research report on Wednesday, January 22nd. Stifel Nicolaus started coverage on shares of Plexus in a report on Tuesday, February 4th. They set a “hold” rating and a $152.00 price objective on the stock. Finally, Needham & Company LLC upped their target price on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Plexus currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.00.

About Plexus

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.