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

Cibc World Markets Corp bought a new position in Plexus Corp. (NASDAQ:PLXS) in the 4th quarter, according to its most recent Form 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 and hedge funds also recently added to or reduced their stakes in PLXS. Natixis Advisors LLC increased its stake in shares of Plexus by 13.4% in the third 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 in the last quarter. Advisors Asset Management Inc. increased its stake in Plexus by 85.0% in 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 bought a new stake in Plexus during the third quarter valued at about $755,000. Charles Schwab Investment Management Inc. lifted its position 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. grew its position in shares of Plexus by 65.9% during the third quarter. Citigroup Inc. now owns 35,569 shares of the technology company’s stock worth $4,863,000 after purchasing an additional 14,129 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Activity

In related news, CEO Todd P. Kelsey sold 4,337 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $142.23, for a total value of $616,851.51. Following the completion of the sale, the chief executive officer now directly owns 80,595 shares in the company, valued at $11,463,026.85. This trade represents a 5.11 % 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, 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 transaction, the chief accounting officer now owns 29,501 shares in the company, valued at $4,281,775.14. This trade represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,458 shares of company stock valued at $2,786,515 in the last ninety days. Insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of research analyst reports. Needham & Company LLC boosted their price target on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Benchmark restated a “buy” rating and set a $165.00 target price on shares of Plexus in a research report on Wednesday, January 22nd. Finally, Stifel Nicolaus started coverage on shares of Plexus in a research note on Tuesday, February 4th. They set a “hold” rating and a $152.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $163.00.

Plexus Stock Performance

NASDAQ:PLXS opened at $128.21 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 29.75 and a beta of 0.90. Plexus Corp. has a 1 year low of $90.87 and a 1 year high of $172.89. The stock’s 50 day simple moving average is $140.08 and its two-hundred day simple moving average is $145.71.

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

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.