Polar Asset Management Partners Inc. Invests $8.15 Million in Plexus Corp. $PLXS

Polar Asset Management Partners Inc. purchased a new stake in shares of Plexus Corp. (NASDAQ:PLXS) during the first quarter, Holdings Channel.com reports. The institutional investor purchased 40,264 shares of the technology company’s stock, valued at approximately $8,155,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PLXS. Hodges Capital Management Inc. increased its stake in Plexus by 47.7% during the 4th quarter. Hodges Capital Management Inc. now owns 17,950 shares of the technology company’s stock valued at $2,639,000 after buying an additional 5,795 shares during the period. Louisiana State Employees Retirement System bought a new stake in shares of Plexus during the 1st quarter worth about $2,410,000. Jefferies Financial Group Inc. acquired a new stake in shares of Plexus in the 4th quarter worth approximately $2,182,000. GSA Capital Partners LLP lifted its stake in shares of Plexus by 159.6% in the 4th quarter. GSA Capital Partners LLP now owns 14,638 shares of the technology company’s stock worth $2,152,000 after acquiring an additional 8,999 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Plexus by 66.4% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 11,832 shares of the technology company’s stock valued at $1,743,000 after acquiring an additional 4,720 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Plexus Price Performance

PLXS stock opened at $254.45 on Monday. Plexus Corp. has a 12 month low of $121.06 and a 12 month high of $307.06. The firm has a market cap of $6.81 billion, a PE ratio of 37.20 and a beta of 0.88. The firm has a 50 day simple moving average of $274.40 and a 200 day simple moving average of $231.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.54 and a quick ratio of 0.74.

Plexus (NASDAQ:PLXS) last issued its earnings results on Wednesday, April 29th. The technology company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.18. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Plexus had a net margin of 4.35% and a return on equity of 12.84%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period last year, the firm posted $1.66 earnings per share. Plexus has set its Q3 2026 guidance at 2.020-2.180 EPS. Equities research analysts forecast that Plexus Corp. will post 5.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on PLXS. Weiss Ratings upgraded shares of Plexus from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, July 6th. Wall Street Zen upgraded Plexus from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Stifel Nicolaus increased their price target on Plexus from $280.00 to $330.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Zacks Research upgraded Plexus from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $275.00 price objective on shares of Plexus in a research note on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $246.67.

Insider Buying and Selling

In other news, EVP Angelo Michael Ninivaggi, Jr. sold 3,270 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $264.75, for a total transaction of $865,732.50. Following the completion of the sale, the executive vice president directly owned 16,266 shares of the company’s stock, valued at $4,306,423.50. This trade represents a 16.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Todd P. Kelsey sold 1,500 shares of Plexus stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $294.98, for a total value of $442,470.00. Following the completion of the transaction, the chief executive officer owned 68,888 shares in the company, valued at $20,320,582.24. The trade was a 2.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 20,481 shares of company stock worth $5,519,183 over the last quarter. 1.78% of the stock is currently owned by insiders.

Plexus 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.