Xact Kapitalforvaltning AB Buys New Holdings in Plexus (NASDAQ:PLXS)

Xact Kapitalforvaltning AB acquired a new stake in Plexus (NASDAQ:PLXS) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,537 shares of the technology company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Legal & General Group Plc lifted its holdings in Plexus by 3.9% in the third quarter. Legal & General Group Plc now owns 83,876 shares of the technology company’s stock valued at $4,705,000 after buying an additional 3,140 shares during the period. Wells Fargo & Company MN increased its stake in Plexus by 56.9% in the third quarter. Wells Fargo & Company MN now owns 54,479 shares of the technology company’s stock valued at $3,054,000 after purchasing an additional 19,746 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Plexus by 7.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 273,817 shares of the technology company’s stock valued at $15,356,000 after purchasing an additional 18,891 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Plexus by 45.7% in the third quarter. Allianz Asset Management GmbH now owns 63,817 shares of the technology company’s stock valued at $3,579,000 after purchasing an additional 20,010 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Plexus in the third quarter valued at $514,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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NASDAQ:PLXS opened at $61.88 on Wednesday. The stock has a market cap of $2,099.52, a price-to-earnings ratio of 19.66 and a beta of 0.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.90 and a quick ratio of 1.08. Plexus has a fifty-two week low of $49.06 and a fifty-two week high of $66.78.



Plexus declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 20th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In related news, VP Ronnie Darroch sold 1,679 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $60.35, for a total transaction of $101,327.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd P. Kelsey sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $60.90, for a total transaction of $395,850.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,554 shares of company stock valued at $1,726,564. 3.70% of the stock is owned by company insiders.

A number of research analysts have weighed in on PLXS shares. ValuEngine upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Longbow Research upgraded shares of Plexus from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. TheStreet cut shares of Plexus from an “a-” rating to a “c+” rating in a research note on Wednesday, January 17th. BidaskClub raised shares of Plexus from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. Finally, JPMorgan Chase set a $70.00 price target on shares of Plexus and gave the stock a “hold” rating in a report on Friday, March 16th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $63.00.

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Plexus Company 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 product conceptualization solutions; and product design and value-engineering solutions, including program management, feasibility studies, specification development for product features and functionality, circuit design, field programmable gate array design, printed circuit board layout, embedded software design, mechanical design, test specifications development and product verification testing, and automated production solutions and complex automation design.

Institutional Ownership by Quarter for Plexus (NASDAQ:PLXS)

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