Kennondale Capital Management LLC Sells 4,405 Shares of Plexus Corp. (NASDAQ:PLXS)

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

Several other institutional investors and hedge funds have also recently bought and sold shares of PLXS. TD Private Client Wealth LLC acquired a new position in Plexus in the fourth quarter worth approximately $28,000. Aquatic Capital Management LLC raised its stake in shares of Plexus by 134.0% in the fourth quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock valued at $37,000 after purchasing an additional 134 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Plexus by 45.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock worth $50,000 after acquiring an additional 100 shares in the last quarter. Versant Capital Management Inc raised its stake in Plexus by 1,000.0% during the first quarter. Versant Capital Management Inc now owns 473 shares of the technology company's stock worth $61,000 after acquiring an additional 430 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Plexus by 49.2% during the first quarter. Blue Trust Inc. now owns 846 shares of the technology company's stock worth $108,000 after acquiring an additional 279 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

PLXS has been the subject of a number of research reports. Sidoti upgraded Plexus from a "neutral" rating to a "buy" rating and raised their target price for the company from $135.00 to $150.00 in a research note on Friday. Wall Street Zen upgraded Plexus from a "buy" rating to a "strong-buy" rating in a report on Monday, June 30th. Stifel Nicolaus set a $145.00 price objective on Plexus in a report on Thursday, April 24th. Benchmark reiterated a "buy" rating and set a $160.00 price objective on shares of Plexus in a report on Wednesday, June 4th. Finally, Needham & Company LLC dropped their target price on Plexus from $162.00 to $158.00 and set a "buy" rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Plexus presently has an average rating of "Moderate Buy" and an average target price of $153.25.

Insider Buying and Selling

In related news, CAO Angelo Michael Ninivaggi, Jr. sold 2,058 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 owned 26,133 shares of the company's stock, valued at $3,455,305.26. This trade represents a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Patrick John Jermain sold 4,328 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $132.29, for a total value of $572,551.12. Following the completion of the sale, the chief financial officer directly owned 25,637 shares of the company's stock, valued at $3,391,518.73. This trade represents a 14.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,032 shares of company stock valued at $1,582,222. Corporate insiders own 1.76% of the company's stock.

Plexus Price Performance

Shares of NASDAQ:PLXS traded up $5.32 during trading on Friday, reaching $123.61. 175,346 shares of the company traded hands, compared to its average volume of 179,679. The company's 50 day moving average is $133.46 and its two-hundred day moving average is $134.03. The firm has a market capitalization of $3.35 billion, a PE ratio of 21.15 and a beta of 0.80. 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 52 week low of $103.43 and a 52 week high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.19. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Plexus had a return on equity of 12.53% and a net margin of 4.04%. Plexus's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.45 EPS. As a group, sell-side analysts predict that Plexus Corp. will post 5.9 earnings per share for the current year.

Plexus 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.