KLP Kapitalforvaltning AS Makes New Investment in Plexus Corp. (NASDAQ:PLXS)

KLP Kapitalforvaltning AS acquired a new position in shares of Plexus Corp. (NASDAQ:PLXS) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,700 shares of the technology company’s stock, valued at approximately $1,518,000.

Several other institutional investors have also recently made changes to their positions in PLXS. Advisors Asset Management Inc. grew its position in Plexus by 85.0% during the third quarter. Advisors Asset Management Inc. now owns 664 shares of the technology company’s stock valued at $91,000 after buying an additional 305 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Plexus during the 3rd quarter valued at about $755,000. Charles Schwab Investment Management Inc. increased its stake in shares of Plexus by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 421,903 shares of the technology company’s stock valued at $57,678,000 after purchasing an additional 2,886 shares in the last quarter. Citigroup Inc. raised its holdings in Plexus by 65.9% in the 3rd quarter. Citigroup Inc. now owns 35,569 shares of the technology company’s stock worth $4,863,000 after purchasing an additional 14,129 shares during the period. Finally, Cerity Partners LLC boosted its position in Plexus by 41.2% during the third quarter. Cerity Partners LLC now owns 8,602 shares of the technology company’s stock worth $1,176,000 after purchasing an additional 2,511 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Plexus Stock Performance

PLXS opened at $127.76 on Friday. Plexus Corp. has a twelve month low of $92.72 and a twelve month high of $172.89. The firm has a market capitalization of $3.45 billion, a PE ratio of 29.64 and a beta of 0.90. 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 firm’s 50-day moving average price is $136.60 and its 200 day moving average price is $145.71.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.10). Plexus had a net margin of 3.03% and a return on equity of 10.36%. As a group, sell-side analysts expect that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Plexus

In related news, insider Michael J. Running sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $138.62, for a total value of $173,275.00. Following the transaction, the insider now directly owns 1,276 shares in the company, valued at approximately $176,879.12. This represents a 49.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd P. Kelsey sold 1,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $156.39, for a total value of $234,585.00. Following the sale, the chief executive officer now directly owns 74,271 shares of the company’s stock, valued at approximately $11,615,241.69. This trade represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,458 shares of company stock worth $2,786,515 in the last quarter. 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.