Hsbc Holdings PLC Raises Stake in Plexus Corp. (NASDAQ:PLXS)

Hsbc Holdings PLC grew its stake in Plexus Corp. (NASDAQ:PLXS - Free Report) by 214.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,296 shares of the technology company's stock after buying an additional 11,113 shares during the period. Hsbc Holdings PLC owned 0.06% of Plexus worth $2,549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Barclays PLC boosted its position in Plexus by 139.4% during the third quarter. Barclays PLC now owns 48,786 shares of the technology company's stock valued at $6,669,000 after acquiring an additional 28,406 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Plexus by 102.7% during the 3rd quarter. Tidal Investments LLC now owns 5,723 shares of the technology company's stock valued at $782,000 after purchasing an additional 2,899 shares in the last quarter. GAMMA Investing LLC grew its stake in Plexus by 17.2% during the fourth quarter. GAMMA Investing LLC now owns 891 shares of the technology company's stock worth $139,000 after purchasing an additional 131 shares during the period. Diversified Trust Co increased its holdings in Plexus by 8.3% in the fourth quarter. Diversified Trust Co now owns 3,789 shares of the technology company's stock worth $593,000 after purchasing an additional 289 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Plexus by 17.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,779 shares of the technology company's stock valued at $278,000 after buying an additional 261 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PLXS has been the subject of several research analyst reports. Stifel Nicolaus set a $145.00 price objective on shares of Plexus in a research note on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and set a $162.00 price objective (down previously from $172.00) on shares of Plexus in a report on Friday, April 25th. Finally, Benchmark reduced their target price on Plexus from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $155.67.

Insider Buying and Selling

In related news, CEO Todd P. Kelsey sold 4,337 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $142.23, for a total transaction of $616,851.51. Following the transaction, the chief executive officer now directly owns 80,595 shares in the company, valued at approximately $11,463,026.85. The trade was a 5.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frank Zycinski sold 1,200 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $140.84, for a total transaction of $169,008.00. Following the completion of the sale, the insider now owns 723 shares of the company's stock, valued at approximately $101,827.32. This trade represents a 62.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,674 shares of company stock worth $1,363,776. 1.76% of the stock is owned by corporate insiders.

Plexus Stock Down 0.4 %

PLXS traded down $0.54 during trading on Tuesday, hitting $125.10. 16,036 shares of the company's stock were exchanged, compared to its average volume of 165,796. Plexus Corp. has a fifty-two week low of $100.96 and a fifty-two week high of $172.89. The stock has a market cap of $3.38 billion, a P/E ratio of 29.08 and a beta of 0.80. The business's 50 day moving average is $124.31 and its two-hundred day moving average is $143.75. 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 (NASDAQ:PLXS - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.12. The business had revenue of $980.17 million during the quarter, compared to the consensus estimate of $980.07 million. Plexus had a return on equity of 10.36% and a net margin of 3.03%. The company's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. As a group, equities analysts expect that Plexus Corp. will post 5.9 earnings per share 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.