CIBC Asset Management Inc Invests $253,000 in Plexus Corp. (NASDAQ:PLXS)

CIBC Asset Management Inc purchased a new position in Plexus Corp. (NASDAQ:PLXS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,853 shares of the technology company’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Quest Partners LLC raised its stake in shares of Plexus by 36,700.0% during the second quarter. Quest Partners LLC now owns 368 shares of the technology company’s stock worth $38,000 after acquiring an additional 367 shares in the last quarter. Innealta Capital LLC bought a new position in Plexus during the 2nd quarter valued at approximately $51,000. Farther Finance Advisors LLC lifted its holdings in Plexus by 89.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 464 shares of the technology company’s stock worth $63,000 after buying an additional 219 shares during the period. EntryPoint Capital LLC grew its position in shares of Plexus by 56.2% in the 1st quarter. EntryPoint Capital LLC now owns 976 shares of the technology company’s stock worth $93,000 after buying an additional 351 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Plexus by 190.1% during the third quarter. GAMMA Investing LLC now owns 760 shares of the technology company’s stock valued at $104,000 after buying an additional 498 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Plexus Trading Up 1.5 %

Plexus stock opened at $162.01 on Friday. The stock has a market cap of $4.39 billion, a P/E ratio of 40.14 and a beta of 0.87. The firm’s 50 day moving average price is $142.29 and its 200-day moving average price is $123.67. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.51 and a quick ratio of 0.71. Plexus Corp. has a 1 year low of $90.18 and a 1 year high of $169.41.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.30. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Plexus had a net margin of 2.82% and a return on equity of 9.51%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the company posted $1.44 EPS. On average, equities analysts predict that Plexus Corp. will post 6.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on PLXS. Needham & Company LLC boosted their target price on shares of Plexus from $144.00 to $162.00 and gave the company a “buy” rating in a report on Friday, October 25th. Benchmark lifted their price objective on Plexus from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, October 28th. StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, KeyCorp started coverage on shares of Plexus in a research report on Tuesday, October 22nd. They set a “sector weight” rating for the company. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.50.

Insider Activity at Plexus

In other news, insider Victor (Pang Hau) Tan sold 1,000 shares of Plexus stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $127.50, for a total transaction of $127,500.00. Following the completion of the sale, the insider now directly owns 8,605 shares in the company, valued at approximately $1,097,137.50. This trade represents a 10.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,113 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $144.19, for a total transaction of $448,863.47. Following the completion of the transaction, the chief accounting officer now owns 35,323 shares in the company, valued at $5,093,223.37. This represents a 8.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,091 shares of company stock worth $5,334,885. Company insiders own 2.39% 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.