Polar Asset Management Partners Inc. Acquires New Position in Plexus Corp. $PLXS

Key Points

• Polar Asset Management Partners acquired 40,264 Plexus shares worth approximately $8.2 million, representing about 0.15% of the company. Institutional investors collectively own 94.45% of Plexus.
• Plexus beat quarterly expectations, reporting $2.05 in EPS versus the $1.87 consensus and $1.16 billion in revenue, up 18.7% year over year. The company issued third-quarter fiscal 2026 EPS guidance of $2.02–$2.18.
• Analyst sentiment is favorable, with five Buy ratings and two Holds, producing a “Moderate Buy” consensus. Recent price targets were raised as high as $330, although company insiders sold 20,481 shares worth approximately $5.5 million during the last quarter.

Polar Asset Management Partners Inc. acquired a new stake in shares of Plexus Corp. (NASDAQ:PLXS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 40,264 shares of the technology company's stock, valued at approximately $8,155,000. Polar Asset Management Partners Inc. owned approximately 0.15% of Plexus as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in shares of Plexus by 130.0% in the 4th quarter. Victory Capital Management Inc. now owns 349,057 shares of the technology company's stock worth $51,311,000 after acquiring an additional 197,283 shares in the last quarter. Emerald Advisers LLC acquired a new stake in shares of Plexus during the 1st quarter valued at approximately $33,729,000. MetLife Investment Management LLC raised its position in shares of Plexus by 713.3% during the 4th quarter. MetLife Investment Management LLC now owns 126,971 shares of the technology company's stock valued at $18,665,000 after acquiring an additional 111,360 shares in the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in Plexus during the first quarter worth $20,715,000. Finally, Balyasny Asset Management L.P. bought a new position in Plexus during the third quarter worth $12,509,000. Institutional investors own 94.45% of the company's stock.

Insider Activity

In other Plexus news, insider Victor (Pang Hau) Tan sold 3,000 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $271.23, for a total transaction of $813,690.00. Following the completion of the transaction, the insider directly owned 10,457 shares of the company's stock, valued at $2,836,252.11. The trade was a 22.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd P. Kelsey sold 1,500 shares of the company'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. This trade represents a 2.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 20,481 shares of company stock valued at $5,519,183. 1.78% of the stock is owned by company insiders.

Plexus Price Performance

Shares of NASDAQ PLXS opened at $254.45 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.54 and a quick ratio of 0.74. The firm has a market capitalization of $6.81 billion, a PE ratio of 37.20 and a beta of 0.88. Plexus Corp. has a 1-year low of $121.06 and a 1-year high of $307.06. The business's fifty day moving average price is $274.40 and its two-hundred day moving average price is $231.15.

Plexus (NASDAQ:PLXS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.18. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Plexus had a net margin of 4.35% and a return on equity of 12.84%. The company's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 earnings per share. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. On average, research analysts expect that Plexus Corp. will post 5.98 EPS for the current year.

Analyst Upgrades and Downgrades

PLXS has been the subject of several recent research reports. Stifel Nicolaus boosted their target price on shares of Plexus from $280.00 to $330.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. Raymond James Financial reaffirmed an "outperform" rating and issued a $275.00 price target on shares of Plexus in a report on Thursday, April 30th. Needham & Company LLC increased their price objective on shares of Plexus from $285.00 to $310.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Zacks Research raised shares of Plexus from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Wall Street Zen upgraded Plexus from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. 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, Plexus presently has an average rating of "Moderate Buy" and an average price target of $246.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.