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) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 8,821 shares of the technology company’s stock, valued at approximately $1,380,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. purchased a new stake in Plexus in the fourth quarter worth about $107,489,000. Raymond James Financial Inc. purchased a new stake in shares of Plexus in the 4th quarter worth approximately $15,892,000. Disciplined Growth Investors Inc. MN lifted its position in shares of Plexus by 2.8% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock worth $296,457,000 after purchasing an additional 59,465 shares during the period. Algert Global LLC boosted its stake in shares of Plexus by 1,546.5% during the third quarter. Algert Global LLC now owns 45,790 shares of the technology company’s stock valued at $6,260,000 after purchasing an additional 43,009 shares in the last quarter. Finally, Barclays PLC raised its stake in Plexus by 139.4% in the third quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock worth $6,669,000 after buying an additional 28,406 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Plexus Stock Up 2.8 %

Shares of PLXS stock opened at $127.26 on Thursday. The stock’s fifty day moving average price is $141.43 and its 200 day moving average price is $145.50. 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 Corp. has a 1-year low of $90.24 and a 1-year high of $172.89. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 29.53 and a beta of 0.90.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data 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%. On average, research analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Todd P. Kelsey sold 1,500 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total value of $234,585.00. Following the transaction, the chief executive officer now directly owns 74,271 shares of the company’s stock, valued at approximately $11,615,241.69. This represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Running sold 1,250 shares of Plexus stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $138.62, for a total value of $173,275.00. Following the sale, the insider now directly owns 1,276 shares of the company’s stock, valued at $176,879.12. This trade represents a 49.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,458 shares of company stock valued at $2,786,515. Insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PLXS shares. Stifel Nicolaus initiated coverage on Plexus in a research report on Tuesday, February 4th. They set a “hold” rating and a $152.00 target price on the stock. Benchmark reiterated a “buy” rating and issued a $165.00 target price on shares of Plexus in a report on Wednesday, January 22nd. Finally, Needham & Company LLC increased their price target on shares of Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

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.