Smart Money Maintains Confidence In Plexus Corp. (PLXS)

Judging by the fact that Plexus Corp. (NASDAQ:PLXS) has witnessed level interest from the entirety of the hedge funds we track, it’s safe to say that there exists a select few hedgies who were dropping their entire stakes heading into Q4. At the top of the heap, Neil Chriss’ Hutchin Hill Capital dumped the largest position of all the hedgies watched by Insider Monkey, valued at close to $1.3 million in stock. Mike Vranos’ fund, Ellington, also sold off its stock, about $0.7 million worth. These moves are interesting, as total hedge fund interest stayed the same (this is a bearish signal in our experience).

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Plexus Corp. (NASDAQ:PLXS) but similarly valued. We will take a look at Super Micro Computer, Inc. (NASDAQ:SMCI), Franklin Electric Co. (NASDAQ:FELE), TransAlta Corporation (USA) (NYSE:TAC), and Companhia Siderurgica Nacional (ADR) (NYSE:SID). This group of stocks’ market valuations are closest to Plexus Corp.’s market valuation.

As you can see these stocks had an average of 8.5 hedge funds with bullish positions and the average amount invested in these stocks was $60 million. That figure was $108 million in Plexus Corp.’s case. Super Micro Computer, Inc. (NASDAQ:SMCI) is the most popular stock in this table. On the other hand Companhia Siderurgica Nacional (ADR) (NYSE:SID) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Plexus Corp. (NASDAQ:PLXS) is more popular among hedge funds and has more money invested in it than any of the other stocks. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.