Hsbc Holdings PLC raised its holdings in Plexus Corp. (NASDAQ:PLXS) by 15.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,369 shares of the technology company’s stock after purchasing an additional 995 shares during the period. Hsbc Holdings PLC’s holdings in Plexus were worth $376,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of PLXS. Federated Investors Inc. PA acquired a new position in Plexus during the third quarter worth approximately $92,000. NumerixS Investment Technologies Inc acquired a new position in Plexus during the fourth quarter worth approximately $161,000. Jefferies Group LLC acquired a new position in Plexus during the third quarter worth approximately $216,000. Ontario Teachers Pension Plan Board purchased a new stake in Plexus during the fourth quarter worth approximately $281,000. Finally, Paloma Partners Management Co grew its stake in Plexus by 127.1% during the third quarter. Paloma Partners Management Co now owns 10,304 shares of the technology company’s stock worth $603,000 after buying an additional 5,767 shares during the period. 96.45% of the stock is owned by institutional investors and hedge funds.
Shares of PLXS stock traded down $4.86 on Friday, hitting $61.05. The stock had a trading volume of 377,433 shares, compared to its average volume of 158,387. The company has a market capitalization of $1.89 billion, a PE ratio of 18.90 and a beta of 0.77. The company has a current ratio of 1.83, a quick ratio of 0.94 and a debt-to-equity ratio of 0.21. Plexus Corp. has a 52-week low of $47.63 and a 52-week high of $66.98.
In other Plexus news, VP Ronnie Darroch sold 3,454 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $56.44, for a total transaction of $194,943.76. Following the sale, the vice president now directly owns 8,489 shares of the company’s stock, valued at $479,119.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Dean A. Foate sold 60,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $63.00, for a total transaction of $3,780,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 78,454 shares of company stock worth $4,875,094 over the last quarter. 3.90% of the stock is currently owned by insiders.
PLXS has been the subject of several research reports. BidaskClub downgraded shares of Plexus from a “buy” rating to a “hold” rating in a research note on Wednesday, March 27th. Zacks Investment Research upgraded shares of Plexus from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Sidoti initiated coverage on shares of Plexus in a research note on Wednesday, March 20th. They set a “buy” rating and a $78.00 price objective for the company. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $69.33.
COPYRIGHT VIOLATION WARNING: “Plexus Corp. (NASDAQ:PLXS) Shares Bought by Hsbc Holdings PLC” was first posted by Baseball Daily News and is owned by of Baseball Daily News. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://www.baseballdailydigest.com/news/2019/04/21/hsbc-holdings-plc-boosts-stake-in-plexus-corp-plxs.html.
Plexus Corp., together with its subsidiaries, provides electronic manufacturing services in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers design and development, supply chain, new product introduction, and manufacturing solutions, as well as aftermarket services. The company provides its solutions to companies in the healthcare and life sciences, industrial and commercial, communications, and aerospace and defense sectors.
Featured Story: Is the Dow Jones Industrial Average (DJIA) still relevant?
Receive News & Ratings for Plexus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plexus and related companies with MarketBeat.com's FREE daily email newsletter.