Raymond James Financial Inc. Takes Position in Plexus Corp. (NASDAQ:PLXS)

Raymond James Financial Inc. acquired a new stake in Plexus Corp. (NASDAQ:PLXS) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 101,561 shares of the technology company’s stock, valued at approximately $15,892,000.

Several other institutional investors have also modified their holdings of the stock. Quarry LP boosted its holdings in Plexus by 573.5% during the 3rd quarter. Quarry LP now owns 229 shares of the technology company’s stock valued at $31,000 after acquiring an additional 195 shares during the period. R Squared Ltd purchased a new position in Plexus during the 4th quarter valued at $45,000. USA Financial Formulas purchased a new position in Plexus during the 4th quarter valued at $56,000. Point72 DIFC Ltd purchased a new position in Plexus during the 3rd quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Plexus during the 3rd quarter valued at $55,000. 94.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLXS has been the subject of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $165.00 price objective on shares of Plexus in a report on Wednesday, January 22nd. Needham & Company LLC boosted their price objective on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Stifel Nicolaus initiated coverage on Plexus in a report on Tuesday, February 4th. They set a “hold” rating and a $152.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.00.

Plexus Price Performance

Shares of PLXS stock opened at $123.78 on Wednesday. Plexus Corp. has a twelve month low of $90.24 and a twelve month high of $172.89. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 28.72 and a beta of 0.90. The stock has a fifty day simple moving average of $142.15 and a two-hundred day simple moving average of $145.63. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.07.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, January 22nd. The technology company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.10). Plexus had a return on equity of 10.36% and a net margin of 3.03%. On average, analysts predict that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Todd P. Kelsey sold 1,500 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 74,271 shares of the company’s stock, valued at approximately $11,615,241.69. The trade was a 1.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Randy J. Martinez sold 887 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $140.52, for a total value of $124,641.24. Following the completion of the transaction, the director now directly owns 4,831 shares of the company’s stock, valued at approximately $678,852.12. The trade was a 15.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,458 shares of company stock worth $2,786,515. 1.76% of the stock is currently owned by company insiders.

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.