Hsbc Holdings PLC decreased its holdings in shares of Plexus Corp. (NASDAQ:PLXS – Free Report) by 71.6% during the first quarter, HoldingsChannel reports. The fund owned 4,491 shares of the technology company’s stock after selling 11,319 shares during the quarter. Hsbc Holdings PLC’s holdings in Plexus were worth $905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of PLXS. Covestor Ltd lifted its position in shares of Plexus by 207.7% during the fourth quarter. Covestor Ltd now owns 240 shares of the technology company’s stock worth $35,000 after acquiring an additional 162 shares in the last quarter. Allworth Financial LP grew its position in shares of Plexus by 70.1% in the third quarter. Allworth Financial LP now owns 250 shares of the technology company’s stock valued at $36,000 after purchasing an additional 103 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Plexus in the third quarter valued at $72,000. Farther Finance Advisors LLC raised its stake in shares of Plexus by 114.7% during the 4th quarter. Farther Finance Advisors LLC now owns 511 shares of the technology company’s stock valued at $75,000 after purchasing an additional 273 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Plexus by 583.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 574 shares of the technology company’s stock valued at $78,000 after purchasing an additional 490 shares during the period. Institutional investors own 94.45% of the company’s stock.
Plexus Trading Down 3.8%
Shares of PLXS stock opened at $240.49 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.54. Plexus Corp. has a 52-week low of $124.49 and a 52-week high of $307.06. The company has a market capitalization of $6.43 billion, a PE ratio of 35.16 and a beta of 0.88. The business’s fifty day moving average is $273.93 and its 200 day moving average is $233.09.
Insiders Place Their Bets
In other news, CEO Todd P. Kelsey sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $294.98, for a total transaction of $442,470.00. Following the completion of the transaction, the chief executive officer owned 68,888 shares of the company’s stock, valued at approximately $20,320,582.24. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Victor (Pang Hau) Tan sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $271.23, for a total transaction of $813,690.00. Following the completion of the transaction, the insider owned 10,457 shares in the company, valued at approximately $2,836,252.11. This trade represents a 22.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 20,481 shares of company stock worth $5,519,183. 1.78% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several brokerages have commented on PLXS. Stifel Nicolaus raised their target price on Plexus from $280.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Needham & Company LLC upped their price target on Plexus from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Raymond James Financial reissued an “outperform” rating and issued a $275.00 price target on shares of Plexus in a report on Thursday, April 30th. Wall Street Zen upgraded shares of Plexus from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings raised shares of Plexus from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $246.67.
View Our Latest Report on PLXS
Plexus News Roundup
Here are the key news stories impacting Plexus this week:
- Positive Sentiment: Adjusted Q3 results beat expectations: Plexus reported non-GAAP earnings of $2.32 per share, above the $2.10 consensus estimate and up from $1.90 a year earlier. Revenue of approximately $1.31 billion exceeded expectations by about $80 million. Plexus Surpasses Q3 Earnings and Revenue Estimates
- Positive Sentiment: Strong growth and optimistic outlook: Revenue increased roughly 28% year over year, while management issued fiscal fourth-quarter adjusted EPS guidance of $2.47-$2.63, well above the $2.09 analyst estimate. Revenue guidance of $1.3-$1.4 billion was at or above expectations. Plexus Announces Fiscal Third Quarter Financial Results
- Positive Sentiment: Gross profit rose 27.2% to $131.4 million, operating profit increased 14.3% to $61.3 million, and cash and equivalents climbed 32.2% year over year to $314.1 million. Plexus Q3 2026 Earnings
- Neutral Sentiment: The earnings coverage contains differing figures because some reports emphasize non-GAAP results while others cite GAAP results. Investors are likely focusing on the quality of earnings and the gap between adjusted and reported profitability. Key Metrics for Plexus Q3 Earnings
- Negative Sentiment: GAAP earnings missed: Reported EPS was $1.58 versus the $2.13 consensus estimate, while net income attributable to common shareholders fell 4.7% year over year to $43.0 million. This likely offset the adjusted EPS beat. Plexus Quarterly Earnings Results
- Negative Sentiment: QuiverQuant reported no insider purchases and 43 insider sales during the past six months, including substantial selling by executives. While these transactions may reflect routine diversification, they could weigh on sentiment. Plexus Insider Trading Activity
About Plexus
Plexus Corp. (NASDAQ: PLXS) is a global provider of electronics manufacturing services (EMS) and precision engineered electronics solutions. Headquartered in Neenah, Wisconsin, the company partners with original equipment manufacturers across industries such as medical, industrial, aerospace and defense, computing, and communications. Plexus offers a full suite of services that span new product introduction, product lifecycle management, supply chain management, printed circuit board assembly, system integration, and aftermarket support.
Founded in 1979, Plexus has grown from a regional electronics assembler into a multinational organization with manufacturing and engineering centers across North America, Europe, and Asia.
Read More
- Five stocks we like better than Plexus
- Why SK hynix Could Be the Best AI Chip Stock to Buy Now
- Seagate Technology Stock Surges as Earnings Beat Silences AI Doubters
- Alphabet Is Down 18% From Its High After a Stellar Quarter—Overdone, or More Downside Ahead?
- Why Bloom Energy May Be the Most Important AI Infrastructure Stock
Want to see what other hedge funds are holding PLXS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plexus Corp. (NASDAQ:PLXS – Free Report).
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.
