Erin Mcsweeney Sells 10,000 Shares of Flex (NASDAQ:FLEX) Stock

Key Points

• Erin Mcsweeney, a director at Flex Ltd., sold 10,000 shares of stock at an average price of $51.47, resulting in a 37.02% decrease in her ownership of the company.
• Flex reported earnings of $0.72 per share for the last quarter, exceeding analyst expectations, with a revenue of $6.58 billion, marking a 4.1% year-over-year increase.
• Institutional investors hold a significant 94.30% of Flex’s stock, with notable purchases from Norges Bank and State Street Corp, reflecting strong institutional interest in the company.

Flex Ltd. (NASDAQ:FLEX - Get Free Report) Director Erin Mcsweeney sold 10,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $51.47, for a total value of $514,700.00. Following the completion of the sale, the director directly owned 17,012 shares in the company, valued at approximately $875,607.64. This represents a 37.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Flex Stock Performance

Shares of FLEX traded up $1.06 during trading hours on Monday, reaching $52.98. 3,969,868 shares of the company traded hands, compared to its average volume of 3,767,083. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $53.97. The stock has a market cap of $19.88 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The stock's fifty day moving average is $50.33 and its 200 day moving average is $41.85. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.36.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The technology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.09. The business had revenue of $6.58 billion for the quarter, compared to analysts' expectations of $6.27 billion. Flex had a return on equity of 20.25% and a net margin of 3.42%.Flex's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 earnings per share. Flex has set its FY 2026 guidance at 2.860-3.060 EPS. Q2 2026 guidance at 0.700-0.780 EPS. Equities research analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Flex in the 2nd quarter valued at $291,362,000. State Street Corp boosted its holdings in Flex by 38.0% in the second quarter. State Street Corp now owns 12,259,554 shares of the technology company's stock valued at $611,997,000 after acquiring an additional 3,377,669 shares during the last quarter. Invesco Ltd. increased its position in Flex by 55.0% in the first quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock worth $276,652,000 after purchasing an additional 2,968,285 shares during the period. Pacer Advisors Inc. raised its holdings in Flex by 3,794.6% during the 1st quarter. Pacer Advisors Inc. now owns 2,900,133 shares of the technology company's stock worth $95,936,000 after purchasing an additional 2,825,667 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Flex by 52.1% in the 2nd quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company's stock valued at $358,500,000 after purchasing an additional 2,459,511 shares during the last quarter. Institutional investors own 94.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Flex from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Stifel Nicolaus increased their target price on Flex from $45.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Bank of America boosted their price target on Flex from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. The Goldman Sachs Group reiterated a "buy" rating on shares of Flex in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Flex from $44.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $53.71.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.

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