Raymond James Financial Inc. Buys New Shares in Plexus Corp. (NASDAQ:PLXS)

Raymond James Financial Inc. purchased a new position in Plexus Corp. (NASDAQ:PLXS) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 101,561 shares of the technology company’s stock, valued at approximately $15,892,000.

Several other institutional investors also recently modified their holdings of the stock. TD Private Client Wealth LLC acquired a new stake in shares of Plexus during the fourth quarter worth $28,000. R Squared Ltd purchased a new stake in Plexus during the fourth quarter valued at about $45,000. Nomura Asset Management Co. Ltd. increased its position in shares of Plexus by 45.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company’s stock worth $50,000 after acquiring an additional 100 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Plexus during the fourth quarter valued at approximately $56,000. Finally, Blue Trust Inc. lifted its position in shares of Plexus by 12.1% in the 4th quarter. Blue Trust Inc. now owns 776 shares of the technology company’s stock valued at $121,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Stifel Nicolaus assumed coverage on Plexus in a research report on Tuesday, February 4th. They issued a “hold” rating and a $152.00 target price for the company. Needham & Company LLC lifted their price target on Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Benchmark restated a “buy” rating and issued a $165.00 price objective on shares of Plexus in a 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.00.

Insider Transactions at Plexus

In other Plexus news, insider Michael J. Running sold 1,250 shares of the firm’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 completion of the sale, the insider now owns 1,276 shares in the company, valued at approximately $176,879.12. This trade represents a 49.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frank Zycinski sold 1,200 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $140.84, for a total value of $169,008.00. Following the completion of the transaction, the insider now owns 723 shares of the company’s stock, valued at $101,827.32. The trade was a 62.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,958 shares of company stock worth $2,551,930. Company insiders own 1.76% of the company’s stock.

Plexus Stock Performance

Shares of NASDAQ PLXS opened at $121.02 on Tuesday. The business’s 50-day simple moving average is $126.81 and its 200-day simple moving average is $144.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. Plexus Corp. has a 52 week low of $93.58 and a 52 week high of $172.89. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 28.08 and a beta of 0.83.

Plexus (NASDAQ:PLXS) last issued its quarterly earnings data on Wednesday, January 22nd. The technology company reported $1.49 earnings per share 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%. As a group, equities research analysts expect that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

About Plexus

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.