Algert Global LLC Acquires 31,680 Shares of Flex Ltd. $FLEX

Key Points

• Algert Global LLC increased its stake in Flex Ltd. by 167.6%, acquiring an additional 31,680 shares and bringing its total holdings to 50,585 shares worth approximately $1.67 million.
• Institutional ownership of Flex is significant, with 94.30% of the stock held by institutional investors, highlighted by major stake increases from firms like Invesco Ltd. and Pacer Advisors Inc.
• Flex Ltd. reported better-than-expected quarterly earnings, with an EPS of $0.72, surpassing estimates, and generating revenue of $6.58 billion, indicating a 4.1% revenue increase year-over-year.

Algert Global LLC raised its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 167.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,585 shares of the technology company's stock after acquiring an additional 31,680 shares during the quarter. Algert Global LLC's holdings in Flex were worth $1,673,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new position in shares of Flex in the first quarter worth about $26,000. Olde Wealth Management LLC bought a new position in shares of Flex in the first quarter worth about $26,000. CX Institutional bought a new position in shares of Flex in the first quarter worth about $29,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Flex in the fourth quarter worth about $35,000. Finally, CWM LLC raised its stake in Flex by 73.3% during the 1st quarter. CWM LLC now owns 1,281 shares of the technology company's stock valued at $42,000 after purchasing an additional 542 shares during the period. Institutional investors own 94.30% of the company's stock.

Insider Buying and Selling

In other news, insider Michael P. Hartung sold 35,393 shares of Flex stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $42.87, for a total value of $1,517,297.91. Following the completion of the transaction, the insider owned 293,195 shares in the company, valued at approximately $12,569,269.65. The trade was a 10.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kwang Hooi Tan sold 37,533 shares of Flex stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $42.87, for a total value of $1,609,039.71. Following the completion of the transaction, the chief operating officer owned 269,151 shares of the company's stock, valued at approximately $11,538,503.37. This trade represents a 12.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 681,706 shares of company stock worth $29,778,944 in the last 90 days. Company insiders own 0.57% of the company's stock.

Flex Price Performance

NASDAQ:FLEX traded up $0.72 during trading hours on Tuesday, reaching $53.70. The stock had a trading volume of 1,753,497 shares, compared to its average volume of 4,085,779. 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 Ltd. has a 52 week low of $25.11 and a 52 week high of $54.14. The company has a 50 day moving average price of $50.33 and a two-hundred day moving average price of $41.85. The stock has a market capitalization of $20.16 billion, a PE ratio of 23.51, a PEG ratio of 1.77 and a beta of 1.05.

Flex (NASDAQ:FLEX - Get Free Report) last announced its earnings results on Thursday, July 24th. The technology company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.09. The firm had revenue of $6.58 billion during 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%.The company's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. 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, sell-side analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

FLEX has been the topic of several recent analyst reports. KGI Securities downgraded Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. The Goldman Sachs Group reissued a "buy" rating on shares of Flex in a research note on Friday, July 11th. Wall Street Zen raised Flex from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Stifel Nicolaus lifted their target price on Flex from $45.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Bank of America lifted their target price on Flex from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.