Kennondale Capital Management LLC Lowers Holdings in Plexus Corp. (NASDAQ:PLXS)

Kennondale Capital Management LLC trimmed its position in Plexus Corp. (NASDAQ:PLXS - Free Report) by 50.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,404 shares of the technology company's stock after selling 4,405 shares during the period. Kennondale Capital Management LLC's holdings in Plexus were worth $564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLXS. American Century Companies Inc. grew its holdings in shares of Plexus by 72.2% during the 4th quarter. American Century Companies Inc. now owns 544,017 shares of the technology company's stock worth $85,128,000 after purchasing an additional 228,027 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Plexus by 19,069.1% during the first quarter. GAMMA Investing LLC now owns 170,797 shares of the technology company's stock worth $21,884,000 after buying an additional 169,906 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in Plexus in the fourth quarter valued at approximately $24,747,000. JPMorgan Chase & Co. raised its stake in Plexus by 146.9% in the fourth quarter. JPMorgan Chase & Co. now owns 258,824 shares of the technology company's stock valued at $40,501,000 after buying an additional 154,003 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Plexus by 1,875.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 137,466 shares of the technology company's stock worth $21,511,000 after purchasing an additional 130,506 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Plexus Price Performance

PLXS stock traded down $1.42 during trading on Tuesday, reaching $134.14. The company's stock had a trading volume of 15,600 shares, compared to its average volume of 171,195. The company has a market capitalization of $3.63 billion, a P/E ratio of 26.03 and a beta of 0.80. The company's fifty day moving average is $133.63 and its 200-day moving average is $134.47. The company has a quick ratio of 0.71, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 1 year low of $103.43 and a 1 year high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.54 by $0.12. The business had revenue of $980.17 million during the quarter, compared to the consensus estimate of $980.07 million. Plexus had a net margin of 3.60% and a return on equity of 11.17%. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 earnings per share. On average, research analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus set a $145.00 price target on Plexus in a research report on Thursday, April 24th. Wall Street Zen raised Plexus from a "buy" rating to a "strong-buy" rating in a research report on Monday, June 30th. Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of Plexus in a research note on Wednesday, June 4th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $162.00 price target (down from $172.00) on shares of Plexus in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $155.67.

Insider Transactions at Plexus

In other Plexus news, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $131.68, for a total transaction of $263,360.00. Following the sale, the chief executive officer directly owned 76,714 shares in the company, valued at $10,101,699.52. This represents a 2.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 2,058 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $132.22, for a total transaction of $272,108.76. Following the completion of the sale, the chief accounting officer directly owned 26,133 shares in the company, valued at approximately $3,455,305.26. This represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,032 shares of company stock worth $1,582,222. 1.76% of the stock is owned by company insiders.

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.

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