486,543 Shares in Plexus Corp. (PLXS) Acquired by Norges Bank

Share on StockTwits

Norges Bank bought a new position in shares of Plexus Corp. (NASDAQ:PLXS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 486,543 shares of the technology company’s stock, valued at approximately $24,853,000.

A number of other hedge funds also recently made changes to their positions in PLXS. D. E. Shaw & Co. Inc. boosted its stake in Plexus by 162.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 122,103 shares of the technology company’s stock worth $6,237,000 after buying an additional 75,508 shares during the period. Thrivent Financial for Lutherans boosted its stake in Plexus by 11.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 617,365 shares of the technology company’s stock worth $31,535,000 after buying an additional 64,098 shares during the period. Intrinsic Edge Capital Management LLC boosted its stake in Plexus by 49.9% during the fourth quarter. Intrinsic Edge Capital Management LLC now owns 173,202 shares of the technology company’s stock worth $8,847,000 after buying an additional 57,675 shares during the period. Vanguard Group Inc boosted its stake in Plexus by 1.0% during the third quarter. Vanguard Group Inc now owns 3,366,412 shares of the technology company’s stock worth $196,968,000 after buying an additional 32,225 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Plexus by 1.0% during the third quarter. Vanguard Group Inc. now owns 3,366,412 shares of the technology company’s stock worth $196,968,000 after buying an additional 32,225 shares during the period. 96.45% of the stock is owned by institutional investors.

Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Plexus from a “buy” rating to a “hold” rating in a research note on Monday, January 21st. BidaskClub lowered shares of Plexus from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Finally, Sidoti initiated coverage on shares of Plexus in a research note on Wednesday, March 20th. They issued a “buy” rating and a $78.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Plexus presently has an average rating of “Buy” and an average target price of $69.33.

In other news, VP Ronnie Darroch sold 3,454 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $56.44, for a total value of $194,943.76. Following the completion of the transaction, the vice president now owns 8,489 shares of the company’s stock, valued at $479,119.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen P. Cortinovis sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of $54.03, for a total transaction of $270,150.00. Following the completion of the transaction, the director now directly owns 32,128 shares of the company’s stock, valued at approximately $1,735,875.84. The disclosure for this sale can be found here. In the last three months, insiders sold 78,454 shares of company stock valued at $4,875,094. Insiders own 3.90% of the company’s stock.

NASDAQ PLXS opened at $61.05 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.21. Plexus Corp. has a one year low of $47.63 and a one year high of $66.98. The company has a market capitalization of $2.01 billion, a PE ratio of 18.90 and a beta of 0.77.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, April 17th. The technology company reported $0.79 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.05). Plexus had a net margin of 4.52% and a return on equity of 12.44%. The business had revenue of $789.10 million during the quarter, compared to analysts’ expectations of $779.03 million. During the same period in the previous year, the business posted $0.74 EPS. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that Plexus Corp. will post 3.71 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This article was first posted by Zolmax and is the property of of Zolmax. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://zolmax.com/investing/486543-shares-in-plexus-corp-plxs-acquired-by-norges-bank/3052086.html.

Plexus Profile

Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.

Recommended Story: What are municipal bonds?

Want to see what other hedge funds are holding PLXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plexus Corp. (NASDAQ:PLXS).

Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

Receive News & Ratings for Plexus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plexus and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Meta Financial Group Inc.  Director Sells $132,016.56 in Stock
Meta Financial Group Inc. Director Sells $132,016.56 in Stock
Spark Investment Management LLC Buys Shares of 40,300 OncoCyte Corp
Spark Investment Management LLC Buys Shares of 40,300 OncoCyte Corp
Endologix, Inc.  Shares Sold by Spark Investment Management LLC
Endologix, Inc. Shares Sold by Spark Investment Management LLC
LendingClub Corp  Receives Average Rating of “Hold” from Analysts
LendingClub Corp Receives Average Rating of “Hold” from Analysts
Big Lots  Raised to Buy at Zacks Investment Research
Big Lots Raised to Buy at Zacks Investment Research
Buckingham Research Lowers Hormel Foods  Price Target to $35.00
Buckingham Research Lowers Hormel Foods Price Target to $35.00


 
© 2006-2019 Zolmax.