Plexus Corp. (NASDAQ:PLXS) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its stake in Plexus Corp. (NASDAQ:PLXS) by 19.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,497 shares of the technology company’s stock after selling 356 shares during the quarter. CIBC Asset Management Inc’s holdings in Plexus were worth $234,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP lifted 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 valued at $31,000 after buying an additional 195 shares during the period. R Squared Ltd purchased a new position in Plexus in the fourth quarter valued at $45,000. USA Financial Formulas purchased a new position in Plexus in the fourth quarter valued at $56,000. Point72 DIFC Ltd purchased a new position in Plexus in the third quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Plexus in the third quarter valued at $55,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Plexus Stock Performance

NASDAQ PLXS opened at $134.31 on Wednesday. The company has a market cap of $3.63 billion, a PE ratio of 31.16 and a beta of 0.89. The stock’s 50 day simple moving average is $151.94 and its 200-day simple moving average is $145.48. Plexus Corp. has a 1-year low of $90.18 and a 1-year high of $172.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70.

Plexus (NASDAQ:PLXS) last released its earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share 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 research analysts anticipate that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Insider Buying and Selling at Plexus

In other Plexus news, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $145.14, for a total value of $496,814.22. Following the completion of the sale, the chief accounting officer now owns 29,501 shares in the company, valued at approximately $4,281,775.14. This represents a 10.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd P. Kelsey sold 4,337 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $142.23, for a total transaction of $616,851.51. Following the completion of the sale, the chief executive officer now owns 80,595 shares of the company’s stock, valued at approximately $11,463,026.85. The trade was a 5.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,458 shares of company stock worth $2,786,515. Insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

PLXS has been the subject of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of Plexus in a report on Tuesday, February 4th. They issued a “hold” rating and a $152.00 price objective for the company. Benchmark reissued a “buy” rating and issued a $165.00 price target on shares of Plexus in a research note on Wednesday, January 22nd. Needham & Company LLC lifted their price target on shares of Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, StockNews.com raised shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $163.00.

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.