Kennondale Capital Management LLC Acquires Shares of 8,809 Plexus Corp. (NASDAQ:PLXS)

Kennondale Capital Management LLC acquired a new stake in shares of Plexus Corp. (NASDAQ:PLXS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,809 shares of the technology company’s stock, valued at approximately $1,378,000. Plexus makes up 1.1% of Kennondale Capital Management LLC’s investment portfolio, making the stock its 23rd largest position.

Several other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new position in shares of Plexus during the fourth quarter worth $107,489,000. Victory Capital Management Inc. lifted its stake in shares of Plexus by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company’s stock valued at $27,367,000 after acquiring an additional 7,483 shares during the last quarter. Stifel Financial Corp bought a new position in shares of Plexus in the 3rd quarter valued at $332,000. Barclays PLC lifted its stake in shares of Plexus by 139.4% in the 3rd quarter. Barclays PLC now owns 48,786 shares of the technology company’s stock valued at $6,669,000 after acquiring an additional 28,406 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Plexus in the 3rd quarter valued at $683,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Plexus Stock Up 0.8 %

Shares of NASDAQ:PLXS opened at $125.16 on Tuesday. The firm has a market cap of $3.38 billion, a P/E ratio of 29.04 and a beta of 0.90. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 12-month low of $90.18 and a 12-month high of $172.89. The business has a fifty day simple moving average of $142.87 and a 200 day simple moving average of $145.66.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share 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%. Analysts predict that Plexus Corp. will post 5.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Benchmark reiterated a “buy” rating and issued a $165.00 price target on shares of Plexus in a research note on Wednesday, January 22nd. Stifel Nicolaus assumed coverage on Plexus in a research note on Tuesday, February 4th. They issued a “hold” rating and a $152.00 price target for the company. StockNews.com upgraded Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Needham & Company LLC raised their target price on Plexus from $162.00 to $172.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Insiders Place Their Bets

In other news, insider Frank Zycinski sold 1,200 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $140.84, for a total value of $169,008.00. Following the completion of the sale, the insider now directly owns 723 shares in the company, valued at $101,827.32. This trade represents a 62.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the firm’s 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 of the company’s stock, valued at approximately $4,281,775.14. This represents a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,458 shares of company stock worth $2,786,515. Company insiders own 1.76% 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.