Raymond James Financial Inc. Lowers Stock Position in Plexus Corp. $PLXS

Raymond James Financial Inc. lessened its stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) by 48.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,612 shares of the technology company's stock after selling 48,949 shares during the period. Raymond James Financial Inc. owned approximately 0.19% of Plexus worth $6,741,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Plexus by 49.6% in the first quarter. GAMMA Investing LLC now owns 1,333 shares of the technology company's stock worth $171,000 after acquiring an additional 442 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Plexus in the first quarter worth $917,000. Ritholtz Wealth Management acquired a new stake in shares of Plexus in the first quarter worth $285,000. Deutsche Bank AG increased its stake in shares of Plexus by 22.8% in the first quarter. Deutsche Bank AG now owns 47,997 shares of the technology company's stock worth $6,150,000 after acquiring an additional 8,921 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Plexus in the first quarter worth $121,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Plexus Price Performance

NASDAQ:PLXS traded up $1.20 during trading hours on Friday, reaching $138.97. 118,368 shares of the company were exchanged, compared to its average volume of 120,914. The stock's 50-day moving average is $133.31 and its 200-day moving average is $129.93. The firm has a market cap of $3.75 billion, a PE ratio of 23.67 and a beta of 0.82. The company has a current ratio of 1.58, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. Plexus Corp. has a twelve month low of $103.43 and a twelve month high of $172.89.

Plexus (NASDAQ:PLXS - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The technology company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.19. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. Plexus had a net margin of 4.04% and a return on equity of 12.33%. The company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.45 earnings per share. Plexus has set its Q4 2025 guidance at 1.820-1.970 EPS. On average, sell-side analysts anticipate that Plexus Corp. will post 5.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PLXS. Stifel Nicolaus set a $140.00 price objective on shares of Plexus in a research note on Thursday, July 24th. Benchmark reissued a "buy" rating and set a $160.00 price target on shares of Plexus in a report on Wednesday, June 4th. Sidoti raised shares of Plexus from a "neutral" rating to a "buy" rating and increased their price target for the stock from $135.00 to $150.00 in a report on Friday, July 25th. Needham & Company LLC lowered their price target on shares of Plexus from $162.00 to $158.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Finally, Wall Street Zen downgraded shares of Plexus from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Plexus has a consensus rating of "Moderate Buy" and an average price target of $152.00.

Insider Activity

In related news, CEO Todd P. Kelsey sold 1,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $134.54, for a total transaction of $201,810.00. Following the completion of the sale, the chief executive officer directly owned 70,714 shares in the company, valued at approximately $9,513,861.56. This trade represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Patrick John Jermain sold 2,500 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $137.71, for a total transaction of $344,275.00. Following the sale, the chief financial officer owned 20,959 shares of the company's stock, valued at approximately $2,886,263.89. The trade was a 10.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,356 shares of company stock valued at $1,926,890 in the last quarter. Insiders own 1.76% of the company's stock.

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.