Cibc World Markets Corp Makes New Investment in Plexus Corp. (NASDAQ:PLXS)

Cibc World Markets Corp bought a new position in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,508 shares of the technology company's stock, valued at approximately $392,000.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP grew its holdings in shares of Plexus by 573.5% in the 3rd quarter. Quarry LP now owns 229 shares of the technology company's stock worth $31,000 after acquiring an additional 195 shares during the period. R Squared Ltd acquired a new stake in Plexus in the fourth quarter valued at $45,000. Point72 DIFC Ltd acquired a new stake in Plexus in the third quarter valued at $51,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Plexus during the 3rd quarter valued at about $55,000. Finally, USA Financial Formulas purchased a new position in shares of Plexus during the 4th quarter worth approximately $56,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PLXS shares. Benchmark reaffirmed a "buy" rating and set a $165.00 price objective on shares of Plexus in a research note on Wednesday, January 22nd. Needham & Company LLC raised their price target on shares of Plexus from $162.00 to $172.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Finally, Stifel Nicolaus began coverage on shares of Plexus in a research report on Tuesday, February 4th. They issued a "hold" rating and a $152.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Plexus presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.00.

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Plexus Trading Down 0.2 %

Shares of NASDAQ PLXS traded down $0.25 during trading on Thursday, hitting $129.99. 137,563 shares of the company traded hands, compared to its average volume of 152,209. The firm has a market capitalization of $3.51 billion, a P/E ratio of 30.16 and a beta of 0.90. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $138.09 and a 200-day moving average price of $145.76. Plexus Corp. has a 1 year low of $91.62 and a 1 year high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing the consensus estimate 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 predict that Plexus Corp. will post 5.9 EPS for the current year.

Insider Buying and Selling at Plexus

In other news, insider Michael J. Running sold 1,250 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $138.62, for a total transaction of $173,275.00. Following the completion of the transaction, the insider now directly owns 1,276 shares in the company, valued at approximately $176,879.12. This represents a 49.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Frank Zycinski sold 1,200 shares of Plexus stock in a transaction on Monday, February 10th. The stock was sold at an average price of $140.84, for a total transaction of $169,008.00. Following the completion of the sale, the insider now owns 723 shares of the company's stock, valued at approximately $101,827.32. This trade represents a 62.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 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.

Plexus 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.