Y Intercept Hong Kong Ltd Sells 11,018 Shares of Plexus Corp. $PLXS

Y Intercept Hong Kong Ltd lessened its position in shares of Plexus Corp. (NASDAQ:PLXS) by 40.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 16,397 shares of the technology company’s stock after selling 11,018 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Plexus were worth $2,372,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PLXS. Salomon & Ludwin LLC purchased a new stake in Plexus in the third quarter valued at approximately $30,000. Huntington National Bank increased its stake in shares of Plexus by 41.5% in the second quarter. Huntington National Bank now owns 324 shares of the technology company’s stock worth $44,000 after acquiring an additional 95 shares during the period. CWM LLC boosted its holdings in Plexus by 65.7% in the second quarter. CWM LLC now owns 537 shares of the technology company’s stock valued at $73,000 after purchasing an additional 213 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Plexus by 583.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 574 shares of the technology company’s stock valued at $78,000 after buying an additional 490 shares during the period. Finally, TD Private Client Wealth LLC grew its stake in shares of Plexus by 31.5% during the 2nd quarter. TD Private Client Wealth LLC now owns 676 shares of the technology company’s stock worth $91,000 after purchasing an additional 162 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on PLXS. Weiss Ratings reiterated a “hold (c+)” rating on shares of Plexus in a report on Thursday, January 22nd. Wall Street Zen lowered Plexus from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Stifel Nicolaus set a $150.00 target price on Plexus in a report on Friday, October 24th. Sidoti lowered Plexus from a “buy” rating to a “neutral” rating and set a $150.00 price target on the stock. in a report on Friday, October 24th. Finally, Needham & Company LLC upped their price objective on shares of Plexus from $158.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $165.00.

Plexus Stock Up 1.4%

Plexus stock traded up $2.38 during trading on Wednesday, reaching $175.89. The stock had a trading volume of 31,289 shares, compared to its average volume of 258,732. The company has a quick ratio of 0.77, a current ratio of 1.58 and a debt-to-equity ratio of 0.06. Plexus Corp. has a 52-week low of $103.43 and a 52-week high of $186.47. The business has a 50 day moving average price of $156.61 and a 200 day moving average price of $144.79. The stock has a market cap of $4.71 billion, a PE ratio of 28.19 and a beta of 0.81.

Insider Buying and Selling

In related news, CEO Todd P. Kelsey sold 2,000 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $143.50, for a total value of $287,000.00. Following the completion of the transaction, the chief executive officer owned 60,714 shares of the company’s stock, valued at approximately $8,712,459. This represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Angelo Michael Ninivaggi, Jr. sold 1,347 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $144.93, for a total transaction of $195,220.71. Following the sale, the chief accounting officer directly owned 21,544 shares of the company’s stock, valued at $3,122,371.92. The trade was a 5.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,674 shares of company stock worth $1,382,876 over the last ninety days. Insiders own 1.78% of the company’s stock.

Plexus Company Profile

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.