Connor Clark & Lunn Investment Management Ltd. Makes New $1.38 Million Investment in Plexus Corp. (NASDAQ:PLXS)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Plexus Corp. (NASDAQ:PLXS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,821 shares of the technology company’s stock, valued at approximately $1,380,000.

Other hedge funds have also recently modified their holdings of the company. Quarry LP boosted its position in Plexus by 573.5% in the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock worth $31,000 after purchasing an additional 195 shares in the last quarter. R Squared Ltd purchased a new stake in Plexus during the fourth quarter worth $45,000. USA Financial Formulas acquired a new stake in Plexus during 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. acquired a new position in shares of Plexus in the third quarter worth about $55,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Transactions at Plexus

In other news, CEO Todd P. Kelsey sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total transaction of $234,585.00. Following the transaction, the chief executive officer now directly owns 74,271 shares in the company, valued at $11,615,241.69. The trade was a 1.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael J. Running sold 1,250 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $138.62, for a total value of $173,275.00. Following the completion of the sale, the insider now directly owns 1,276 shares of the company’s stock, valued at approximately $176,879.12. This represents a 49.49 % 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 over the last 90 days. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PLXS. Benchmark restated a “buy” rating and set a $165.00 target price on shares of Plexus in a research report on Wednesday, January 22nd. Stifel Nicolaus initiated coverage on Plexus in a report on Tuesday, February 4th. They issued 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 research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have given 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 target price of $163.00.

Plexus Trading Up 2.8 %

Shares of Plexus stock opened at $127.26 on Thursday. Plexus Corp. has a twelve month low of $90.24 and a twelve month high of $172.89. The firm’s 50-day moving average price is $141.43 and its 200 day moving average price is $145.50. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.44 billion, a PE ratio of 29.53 and a beta of 0.90.

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, sell-side analysts predict that Plexus Corp. will post 5.9 EPS for the current fiscal year.

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.