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

Raymond James Financial Inc. acquired a new stake in Plexus Corp. (NASDAQ:PLXS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 101,561 shares of the technology company's stock, valued at approximately $15,892,000. Raymond James Financial Inc. owned approximately 0.38% of Plexus at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new stake in shares of Plexus during the fourth quarter worth $107,489,000. Stifel Financial Corp purchased a new stake in shares of Plexus during the third quarter worth about $332,000. Barclays PLC increased its position in shares of Plexus by 139.4% during the third quarter. Barclays PLC now owns 48,786 shares of the technology company's stock worth $6,669,000 after acquiring an additional 28,406 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Plexus during the third quarter worth about $683,000. Finally, FMR LLC grew its stake in Plexus by 614.2% in the third quarter. FMR LLC now owns 13,941 shares of the technology company's stock worth $1,906,000 after purchasing an additional 11,989 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PLXS. Needham & Company LLC lifted their target price on Plexus from $162.00 to $172.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Benchmark reissued a "buy" rating and set a $165.00 target price on shares of Plexus in a report on Wednesday, January 22nd. Finally, Stifel Nicolaus began coverage on shares of Plexus in a research note on Tuesday, February 4th. They set a "hold" rating and a $152.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Plexus currently has a consensus rating of "Moderate Buy" and a consensus price target of $163.00.

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Plexus Stock Down 0.7 %

Shares of Plexus stock traded down $0.88 on Friday, hitting $128.21. 743,463 shares of the company traded hands, compared to its average volume of 151,233. The company has a 50-day moving average price of $140.08 and a 200 day moving average price of $145.39. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. Plexus Corp. has a 12-month low of $90.87 and a 12-month high of $172.89. The company has a market cap of $3.47 billion, a PE ratio of 29.75 and a beta of 0.90.

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

Insider Buying and Selling

In related news, insider Michael J. Running sold 1,250 shares of the company's stock in a transaction on Friday, February 21st. The shares were 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 directly owns 1,276 shares in the company, valued at approximately $176,879.12. This represents a 49.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Randy J. Martinez sold 887 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 4,831 shares of the company's stock, valued at $678,852.12. This represents a 15.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,458 shares of company stock worth $2,786,515. Corporate insiders own 1.76% of the company's stock.

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.