Alight Capital Management LP Buys 40,000 Shares of Flex Ltd. $FLEX

Key Points

• Alight Capital Management LP increased its position in shares of Flex Ltd. by 40.0%, now owning 140,000 shares, making it the 15th largest position in its portfolio.
• Several large institutional investors, including Invesco Ltd. and Alyeska Investment Group L.P., have significantly increased their holdings in Flex during the 1st quarter, signaling strong institutional interest in the stock.
• Flex reported earnings per share of $0.72 for the most recent quarter, surpassing analysts' expectations and revealing a year-over-year revenue increase of 4.1%.

Alight Capital Management LP increased its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 40.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 140,000 shares of the technology company's stock after purchasing an additional 40,000 shares during the quarter. Flex makes up 2.1% of Alight Capital Management LP's investment portfolio, making the stock its 15th biggest holding. Alight Capital Management LP's holdings in Flex were worth $4,631,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC bought a new position in shares of Flex during the 4th quarter valued at approximately $260,000. The Manufacturers Life Insurance Company raised its holdings in Flex by 889.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 244,142 shares of the technology company's stock worth $9,375,000 after buying an additional 219,473 shares during the last quarter. Lido Advisors LLC bought a new stake in shares of Flex in the fourth quarter worth approximately $277,000. Schonfeld Strategic Advisors LLC boosted its position in shares of Flex by 168.9% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 39,860 shares of the technology company's stock worth $1,530,000 after purchasing an additional 25,035 shares during the period. Finally, AXA S.A. boosted its position in shares of Flex by 98.4% during the fourth quarter. AXA S.A. now owns 43,469 shares of the technology company's stock worth $1,669,000 after acquiring an additional 21,561 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Stock Performance

FLEX stock traded down $0.06 during trading on Monday, reaching $55.60. 1,122,392 shares of the company's stock were exchanged, compared to its average volume of 4,057,340. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.59. The firm has a market cap of $20.87 billion, a PE ratio of 24.40, a P/E/G ratio of 1.89 and a beta of 1.12. The company's fifty day moving average price is $51.54 and its 200-day moving average price is $42.58. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $56.85.

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, beating the consensus estimate of $0.63 by $0.09. The business had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $6.27 billion. Flex had a return on equity of 20.25% and a net margin of 3.42%.Flex's revenue was up 4.1% compared to the same quarter last year. During the same period in the prior 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. On average, research analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Activity at Flex

In related news, COO Kwang Hooi Tan sold 12,500 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $50.25, for a total value of $628,125.00. Following the sale, the chief operating officer owned 263,636 shares of the company's stock, valued at $13,247,709. The trade was a 4.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Watkins sold 10,000 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $51.79, for a total value of $517,900.00. Following the completion of the sale, the director directly owned 111,355 shares in the company, valued at approximately $5,767,075.45. This represents a 8.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,827 shares of company stock worth $12,550,282 in the last three months. Company insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FLEX shares. Bank of America raised their price target on shares of Flex from $50.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Barclays boosted their price target on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. KeyCorp upped their target price on shares of Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. upped their target price on shares of Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen raised Flex from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Flex presently has a consensus rating of "Moderate Buy" and an average target price of $53.71.

About Flex

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.