Moran Wealth Management LLC Has $6.01 Million Stock Position in Plexus Corp. (NASDAQ:PLXS)

Moran Wealth Management LLC trimmed its holdings in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 8.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,896 shares of the technology company's stock after selling 4,457 shares during the period. Moran Wealth Management LLC owned 0.17% of Plexus worth $6,009,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC acquired a new stake in shares of Plexus in the 4th quarter worth about $28,000. Aquatic Capital Management LLC increased its holdings in shares of Plexus by 134.0% in the 4th quarter. Aquatic Capital Management LLC now owns 234 shares of the technology company's stock worth $37,000 after acquiring an additional 134 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of Plexus by 45.5% in the 4th 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 during the period. Versant Capital Management Inc increased its holdings in shares of Plexus by 1,000.0% in the 1st quarter. Versant Capital Management Inc now owns 473 shares of the technology company's stock worth $61,000 after acquiring an additional 430 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Plexus by 49.2% in the 1st quarter. Blue Trust Inc. now owns 846 shares of the technology company's stock worth $108,000 after acquiring an additional 279 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Michael J. Running sold 646 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $130.05, for a total transaction of $84,012.30. Following the completion of the transaction, the insider now owns 630 shares in the company, valued at approximately $81,931.50. This trade represents a 50.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Karen Marie Rapp sold 500 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $130.77, for a total transaction of $65,385.00. Following the transaction, the director now owns 9,365 shares of the company's stock, valued at approximately $1,224,661.05. This trade represents a 5.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,032 shares of company stock worth $1,582,222. Corporate insiders own 1.76% of the company's stock.

Plexus Price Performance

Plexus stock traded down $0.62 during trading hours on Friday, hitting $135.53. 665,180 shares of the company traded hands, compared to its average volume of 169,377. The firm has a market cap of $3.67 billion, a P/E ratio of 26.37 and a beta of 0.81. The company has a quick ratio of 0.71, a current ratio of 1.53 and a debt-to-equity ratio of 0.07. The firm's 50-day simple moving average is $130.25 and its two-hundred day simple moving average is $137.14. Plexus Corp. has a 1-year low of $101.64 and a 1-year high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.54 by $0.12. The firm had revenue of $980.17 million for the quarter, compared to analysts' expectations of $980.07 million. Plexus had a net margin of 3.60% and a return on equity of 11.17%. Plexus's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. As a group, analysts forecast that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLXS has been the topic of a number of analyst reports. Wall Street Zen cut shares of Plexus from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $162.00 price objective (down previously from $172.00) on shares of Plexus in a report on Friday, April 25th. Benchmark reaffirmed a "buy" rating and issued a $160.00 price objective on shares of Plexus in a report on Wednesday, June 4th. Finally, Stifel Nicolaus set a $145.00 target price on shares of Plexus in a research report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Plexus currently has an average rating of "Moderate Buy" and a consensus target price of $155.67.

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.