KLP Kapitalforvaltning AS Purchases New Stake in Plexus Corp. (NASDAQ:PLXS)

KLP Kapitalforvaltning AS acquired a new position in Plexus Corp. (NASDAQ:PLXS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,700 shares of the technology company's stock, valued at approximately $1,518,000.

Other hedge funds have also recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN lifted its stake in Plexus by 2.8% during the third quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company's stock worth $296,457,000 after purchasing an additional 59,465 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Plexus during the 4th quarter worth about $107,489,000. Geode Capital Management LLC boosted its holdings in Plexus by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company's stock valued at $89,392,000 after acquiring an additional 4,926 shares during the period. American Century Companies Inc. boosted its holdings in Plexus by 72.2% during the 4th quarter. American Century Companies Inc. now owns 544,017 shares of the technology company's stock valued at $85,128,000 after acquiring an additional 228,027 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 2,886 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Transactions at Plexus

In other Plexus news, Director Randy J. Martinez sold 887 shares of Plexus stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $140.52, for a total transaction of $124,641.24. Following the transaction, the director now owns 4,831 shares of the company's stock, valued at $678,852.12. The trade was a 15.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $156.39, for a total value of $234,585.00. Following the completion of the sale, the chief executive officer now owns 74,271 shares of the company's stock, valued at approximately $11,615,241.69. This represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,458 shares of company stock valued at $2,786,515. Corporate insiders own 1.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLXS. Needham & Company LLC raised their price objective on shares of Plexus from $162.00 to $172.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Stifel Nicolaus assumed coverage on shares of Plexus in a research report on Tuesday, February 4th. They issued a "hold" rating and a $152.00 price target for the company. Finally, Benchmark reaffirmed a "buy" rating and set a $165.00 price objective on shares of Plexus in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $163.00.

Plexus Stock Up 2.1 %

NASDAQ PLXS traded up $2.63 on Wednesday, hitting $130.05. 189,664 shares of the stock were exchanged, compared to its average volume of 158,848. Plexus Corp. has a fifty-two week low of $92.72 and a fifty-two week high of $172.89. The company has a 50-day moving average price of $134.15 and a 200-day moving average price of $145.97. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.52 billion, a PE ratio of 30.17 and a beta of 0.90.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its 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 anticipate that Plexus Corp. will post 5.9 EPS for the current fiscal 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.