97,200 Shares in Flex Ltd. $FLEX Purchased by State of Michigan Retirement System

Key Points

• State of Michigan Retirement System initiated a new position in Flex Ltd. during the first quarter, buying 97,200 shares worth about $6.36 million.
• Flex continues to draw heavy institutional interest, with major holders like Vanguard, Norges Bank, State Street, and UBS AM expanding stakes; institutional investors now own 94.3% of the company.
• The stock was down 5.9% to $121.12, even as analyst sentiment remained generally positive with a Moderate Buy consensus and a target price of $115.70. However, insiders have sold shares recently, including the COO and CAO, amid tax-withholding-related transactions.

State of Michigan Retirement System purchased a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 97,200 shares of the technology company's stock, valued at approximately $6,363,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company's stock worth $2,341,053,000 after buying an additional 25,662,586 shares during the last quarter. Norges Bank acquired a new position in shares of Flex in the fourth quarter valued at about $319,756,000. State Street Corp increased its position in Flex by 38.0% during the second quarter. State Street Corp now owns 12,259,554 shares of the technology company's stock worth $611,997,000 after acquiring an additional 3,377,669 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Flex by 694,916.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company's stock worth $159,573,000 after acquiring an additional 2,640,682 shares during the period. Finally, Polar Capital Holdings Plc raised its stake in Flex by 141.8% in the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company's stock worth $223,140,000 after purchasing an additional 2,165,780 shares in the last quarter. Institutional investors own 94.30% of the company's stock.

Insider Activity

In other Flex news, CAO Daniel Wendler sold 1,311 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.20, for a total value of $190,357.20. Following the completion of the transaction, the chief accounting officer directly owned 37,932 shares in the company, valued at approximately $5,507,726.40. This represents a 3.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 8,981 shares of Flex stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $145.19, for a total transaction of $1,303,951.39. Following the transaction, the chief operating officer owned 248,546 shares in the company, valued at approximately $36,086,393.74. This trade represents a 3.49% 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. Over the last ninety days, insiders sold 769,195 shares of company stock worth $110,116,823. Company insiders own 0.62% of the company's stock.

Flex Trading Down 5.9%

NASDAQ FLEX opened at $121.12 on Friday. The company has a market cap of $44.38 billion, a price-to-earnings ratio of 51.98, a price-to-earnings-growth ratio of 0.68 and a beta of 1.64. Flex Ltd. has a twelve month low of $47.83 and a twelve month high of $166.86. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The business's fifty day moving average is $143.62 and its 200 day moving average is $95.62.

Flex (NASDAQ:FLEX - Get Free Report) last posted its earnings results on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The firm had revenue of $7.48 billion during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. As a group, sell-side analysts expect that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Analyst Ratings Changes

FLEX has been the topic of a number of recent analyst reports. Zacks Research cut shares of Flex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. raised their target price on Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Stifel Nicolaus lifted their price target on Flex from $75.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Barclays upped their price objective on Flex from $174.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, June 4th. Finally, The Goldman Sachs Group raised their price objective on Flex from $84.00 to $177.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Flex presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.70.

Trending Headlines about Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Recent analyst commentary appears to have been constructive, with one note framing the pullback as a valuation reset rather than a fundamental problem, which could help limit downside once selling pressure eases.
• Neutral Sentiment: Flex has set its first-quarter fiscal 2027 earnings release for July 29, and investors often reduce exposure ahead of an earnings date when a stock has already had a strong run.
• Neutral Sentiment: Some investor attention is also focused on Flex’s planned spin-off of its Cloud and Power Infrastructure segment and a related delayed-draw term loan tied to a pending acquisition, but these look more like execution/watchlist items than immediate catalysts.
• Negative Sentiment: Market participants appear to be de-risking after the stock’s recent rally, and broader weakness in AI hardware-related names may be adding to the selling pressure. Article Title

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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