35,270 Shares in Flex Ltd. $FLEX Purchased by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd opened a new position in Flex during the fourth quarter, buying 35,270 shares valued at about $2.13 million.
• Institutional ownership of Flex remains very high, with hedge funds and other large investors holding 94.30% of the company. Several major firms, including Vanguard, Norges Bank, and State Street, also increased or initiated positions.
• Flex has seen notable insider selling recently: CEO Revathi Advaithi and insider Michael P. Hartung both sold shares in May, and insiders sold 345,012 shares worth $48.5 million over the last 90 days.

WINTON GROUP Ltd acquired a new position in Flex Ltd. (NASDAQ:FLEX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 35,270 shares of the technology company's stock, valued at approximately $2,131,000.

A number of other large investors have also modified their holdings of FLEX. Vanguard Group Inc. increased its holdings in shares of Flex by 196.1% in the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company's stock worth $2,341,053,000 after acquiring an additional 25,662,586 shares during the period. Norges Bank acquired a new stake in shares of Flex in the 4th quarter worth about $319,756,000. State Street Corp increased its stake in Flex by 38.0% during the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company's stock valued at $611,997,000 after buying an additional 3,377,669 shares during the period. Qube Research & Technologies Ltd increased its stake in Flex by 118.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company's stock valued at $162,968,000 after buying an additional 1,522,308 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Flex by 80.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,645,745 shares of the technology company's stock valued at $153,374,000 after buying an additional 1,183,464 shares during the period. Institutional investors and hedge funds own 94.30% of the company's stock.

Insider Activity at Flex

In other news, insider Michael P. Hartung sold 22,216 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $142.38, for a total transaction of $3,163,114.08. Following the completion of the transaction, the insider owned 232,706 shares in the company, valued at approximately $33,132,680.28. This trade represents a 8.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 114,090 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $142.37, for a total transaction of $16,242,993.30. Following the transaction, the chief executive officer owned 689,022 shares of the company's stock, valued at approximately $98,096,062.14. This trade represents a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 345,012 shares of company stock worth $48,508,103. Company insiders own 0.57% of the company's stock.

Trending Headlines about Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex is highlighted as a potential winner in a strengthening electronics sector, with analysts pointing to infrastructure investment and capacity expansion as tailwinds for the business. Article Title
• Positive Sentiment: Investors are reacting to Flex’s growth strategy, including the planned separation of its Power and Cloud portfolio and an acquisition in electrical power, which could expand its exposure to AI data centers, grid modernization, and electrification. Article Title
• Neutral Sentiment: A Zacks follow-up notes that FLEX has risen since its last earnings report, but questions remain about whether the momentum can continue, making this more of a status update than a clear catalyst. Article Title
• Negative Sentiment: EVP David Scott Offer sold 33,000 shares in a pre-arranged 10b5-1 transaction, trimming his stake by about 31%; while routine, insider selling can still weigh on sentiment. Article Title

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays raised their target price on shares of Flex from $174.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday. The Goldman Sachs Group raised their target price on shares of Flex from $84.00 to $177.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Zacks Research raised shares of Flex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. Wall Street Zen cut shares of Flex from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 8th. Finally, KeyCorp raised their target price on shares of Flex from $75.00 to $180.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $115.70.

Flex Stock Performance

NASDAQ:FLEX opened at $151.92 on Monday. Flex Ltd. has a twelve month low of $42.60 and a twelve month high of $166.86. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average of $107.57 and a 200-day moving average of $78.87. The firm has a market cap of $55.66 billion, a price-to-earnings ratio of 65.20, a price-to-earnings-growth ratio of 0.80 and a beta of 1.63.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The company had revenue of $7.48 billion during the quarter. Analysts forecast that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Flex Company Profile

Flex NASDAQ: FLEX, formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.

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