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

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

A number of other hedge funds have also recently made changes to their positions in PLXS. TD Private Client Wealth LLC purchased a new position in Plexus during the fourth quarter valued at $28,000. R Squared Ltd bought a new stake in Plexus during the 4th quarter valued at about $45,000. Nomura Asset Management Co. Ltd. increased its stake in Plexus by 45.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 320 shares of the technology company's stock valued at $50,000 after purchasing an additional 100 shares in the last quarter. USA Financial Formulas purchased a new position in Plexus in the fourth quarter worth about $56,000. Finally, Blue Trust Inc. grew its holdings in shares of Plexus by 12.1% during the fourth quarter. Blue Trust Inc. now owns 776 shares of the technology company's stock valued at $121,000 after buying an additional 84 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Plexus Stock Performance

Shares of Plexus stock traded up $1.28 on Friday, hitting $126.63. 81,903 shares of the company's stock were exchanged, compared to its average volume of 166,505. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.70 and a current ratio of 1.53. The stock has a market capitalization of $3.42 billion, a PE ratio of 29.38 and a beta of 0.83. Plexus Corp. has a 1 year low of $94.94 and a 1 year high of $172.89. The company has a 50-day simple moving average of $125.98 and a 200-day simple moving average of $144.19.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its quarterly 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 net margin of 3.03% and a return on equity of 10.36%. As a group, equities analysts anticipate that Plexus Corp. will post 5.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Stifel Nicolaus set a $145.00 target price on Plexus in a report on Thursday. Needham & Company LLC restated a "buy" rating and issued a $162.00 target price (down previously from $172.00) on shares of Plexus in a report on Friday. Finally, Benchmark decreased their target price on shares of Plexus from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday. Two investment 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, Plexus currently has an average rating of "Moderate Buy" and an average price target of $155.67.

Insider Activity at Plexus

In related news, CEO Todd P. Kelsey sold 4,337 shares of the firm's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $142.23, for a total transaction of $616,851.51. Following the completion of the transaction, the chief executive officer now directly owns 80,595 shares of the company's stock, valued at approximately $11,463,026.85. This trade represents a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 3,423 shares of the business's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $145.14, for a total transaction of $496,814.22. Following the completion of the sale, the chief accounting officer now owns 29,501 shares in the company, valued at approximately $4,281,775.14. The trade was a 10.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,958 shares of company stock worth $2,551,930. 1.76% of the stock is owned by corporate insiders.

Plexus 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.