Moran Wealth Management LLC Decreases Stake in Plexus Corp. (NASDAQ:PLXS)

Moran Wealth Management LLC decreased its stake in shares of Plexus Corp. (NASDAQ:PLXS) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,353 shares of the technology company’s stock after selling 1,059 shares during the period. Moran Wealth Management LLC owned about 0.19% of Plexus worth $8,036,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PLXS. Disciplined Growth Investors Inc. MN lifted its holdings in Plexus by 2.8% in the third quarter. Disciplined Growth Investors Inc. MN now owns 2,168,512 shares of the technology company’s stock worth $296,457,000 after acquiring an additional 59,465 shares during the last quarter. Pacer Advisors Inc. bought a new position in Plexus in the fourth quarter worth about $107,489,000. Geode Capital Management LLC lifted its holdings in Plexus by 0.8% in the third quarter. Geode Capital Management LLC now owns 653,759 shares of the technology company’s stock worth $89,392,000 after acquiring an additional 4,926 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Plexus by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 421,903 shares of the technology company’s stock worth $57,678,000 after acquiring an additional 2,886 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Plexus by 3.9% in the third quarter. Victory Capital Management Inc. now owns 200,186 shares of the technology company’s stock worth $27,367,000 after acquiring an additional 7,483 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PLXS. Stifel Nicolaus began coverage on shares of Plexus in a research note on Tuesday, February 4th. They issued a “hold” rating and a $152.00 price target on the stock. StockNews.com upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Needham & Company LLC raised their price target on shares of Plexus from $162.00 to $172.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Benchmark restated a “buy” rating and issued a $165.00 price target on shares of Plexus in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Plexus has an average rating of “Moderate Buy” and an average target price of $163.00.

Insider Activity at Plexus

In other Plexus news, insider Frank Zycinski sold 1,200 shares of Plexus stock in a transaction that occurred 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 transaction, the insider now owns 723 shares in the company, valued at approximately $101,827.32. The trade was a 62.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the insider now directly owns 1,276 shares in the company, valued at $176,879.12. This represents a 49.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,458 shares of company stock worth $2,786,515 over the last quarter. 1.76% of the stock is currently owned by company insiders.

Plexus Price Performance

NASDAQ PLXS opened at $121.09 on Tuesday. Plexus Corp. has a 12 month low of $90.18 and a 12 month high of $172.89. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.53 and a quick ratio of 0.70. The firm has a market capitalization of $3.27 billion, a PE ratio of 28.10 and a beta of 0.90. The company’s 50 day simple moving average is $146.94 and its 200 day simple moving average is $145.83.

Plexus (NASDAQ:PLXS) last posted its quarterly earnings data on Wednesday, January 22nd. The technology company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates 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 research analysts forecast that Plexus Corp. will post 5.9 EPS for the current fiscal year.

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.