5,035 Shares in Flex Ltd. $FLEX Bought by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC has acquired 5,035 shares of Flex Ltd. for approximately $251,000, reflecting an interest from institutional investors in the technology company.
• Directors William D. Watkins and Erin Mcsweeney both sold 10,000 shares of Flex stock, indicating a decrease in their personal holdings, with Watkins' transaction totaling $517,900 and McSweeney's at $514,700.
• Flex Ltd. recently reported earnings that exceeded expectations, with a net revenue of $6.58 billion for the quarter, marking a 4.1% increase compared to the previous year.

Concurrent Investment Advisors LLC bought a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,035 shares of the technology company's stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of Flex by 4.8% in the 1st quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company's stock worth $719,232,000 after acquiring an additional 996,276 shares during the last quarter. Invesco Ltd. boosted its holdings in Flex by 55.0% in the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock valued at $276,652,000 after purchasing an additional 2,968,285 shares during the period. Voya Investment Management LLC boosted its holdings in Flex by 16.7% in the 1st quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company's stock valued at $159,243,000 after purchasing an additional 690,611 shares during the period. Earnest Partners LLC boosted its holdings in Flex by 3.2% in the 1st quarter. Earnest Partners LLC now owns 4,121,113 shares of the technology company's stock valued at $136,326,000 after purchasing an additional 128,464 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Flex by 16.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company's stock valued at $103,714,000 after buying an additional 453,455 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Insider Buying and Selling

In other news, Director William D. Watkins sold 10,000 shares of Flex stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $51.79, for a total transaction of $517,900.00. Following the completion of the transaction, the director directly owned 111,355 shares of the company's stock, valued at $5,767,075.45. The trade was a 8.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erin Mcsweeney sold 10,000 shares of Flex stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $51.47, for a total transaction of $514,700.00. Following the transaction, the director directly owned 17,012 shares of the company's stock, valued at approximately $875,607.64. This trade represents a 37.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,020 shares of company stock worth $4,923,667 over the last ninety days. Company insiders own 0.57% of the company's stock.

Flex Trading Up 1.0%

Shares of FLEX opened at $62.75 on Tuesday. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $64.29. The company has a market cap of $23.55 billion, a P/E ratio of 27.52, a P/E/G ratio of 2.02 and a beta of 1.15. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The company's fifty day simple moving average is $56.04 and its 200-day simple moving average is $47.62.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.63 by $0.09. Flex had a net margin of 3.42% and a return on equity of 20.25%. The company had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter last year, the firm posted $0.51 EPS. The firm's revenue was up 4.1% compared to the same quarter last year. Flex has set its FY 2026 guidance at 2.860-3.060 EPS. Q2 2026 guidance at 0.700-0.780 EPS. As a group, analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on FLEX. Barclays lifted their target price on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. KeyCorp lifted their target price on shares of Flex from $60.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Flex in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Flex from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 11th. Finally, Bank of America lifted their target price on shares of Flex from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Flex presently has an average rating of "Moderate Buy" and a consensus target price of $59.71.

Flex 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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