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

Kennondale Capital Management LLC purchased a new stake in shares of Plexus Corp. (NASDAQ:PLXS) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 8,809 shares of the technology company’s stock, valued at approximately $1,378,000. Plexus comprises 1.1% of Kennondale Capital Management LLC’s investment portfolio, making the stock its 23rd largest position.

Other hedge funds have also added to or reduced their stakes in the company. Quarry LP boosted its stake in Plexus by 573.5% during the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after purchasing an additional 195 shares during the last quarter. R Squared Ltd acquired a new position in Plexus during the 4th quarter valued at about $45,000. Point72 DIFC Ltd acquired a new position in Plexus during the 3rd quarter valued at about $51,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Plexus during the 3rd quarter worth approximately $55,000. Finally, USA Financial Formulas bought a new position in shares of Plexus during the 4th quarter worth approximately $56,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling

In related news, insider Michael J. Running sold 1,250 shares of Plexus 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 transaction, the insider now directly owns 1,276 shares in the company, valued at approximately $176,879.12. The trade was a 49.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $156.39, for a total transaction of $234,585.00. Following the completion of the transaction, the chief executive officer now owns 74,271 shares of the company’s stock, valued at $11,615,241.69. This represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,458 shares of company stock valued at $2,786,515. 1.76% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Plexus Trading Up 0.8 %

NASDAQ:PLXS opened at $125.16 on Tuesday. 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 stock has a market capitalization of $3.38 billion, a PE ratio of 29.04 and a beta of 0.90. The firm’s 50 day moving average is $142.87 and its 200 day moving average is $145.66. Plexus Corp. has a 12 month low of $90.18 and a 12 month high of $172.89.

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

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.