Alliancebernstein L.P. Has $331.85 Million Stock Position in Flex Ltd. $FLEX

Key Points

• Alliancebernstein L.P. reduced its stake in Flex Ltd. by 9.9%, selling 1,105,383 shares, and now owns approximately 2.62% of the company, valued at $331.85 million.
• Insider trading activity includes David Scott Offer selling 9,759 shares and Erin Mcsweeney selling 10,000 shares, representing significant decreases of 13.74% and 37.02% in their positions, respectively.
• Flex Ltd. reported $0.72 earnings per share for the last quarter, exceeding analysts’ expectations and showing a 4.1% increase in quarterly revenue compared to the previous year.

Alliancebernstein L.P. cut its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,031,780 shares of the technology company's stock after selling 1,105,383 shares during the period. Alliancebernstein L.P. owned approximately 2.62% of Flex worth $331,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC grew its holdings in Flex by 50.5% in the first quarter. AQR Capital Management LLC now owns 500,170 shares of the technology company's stock valued at $16,191,000 after purchasing an additional 167,735 shares during the last quarter. Alight Capital Management LP raised its position in Flex by 40.0% during the first quarter. Alight Capital Management LP now owns 140,000 shares of the technology company's stock worth $4,631,000 after acquiring an additional 40,000 shares during the last quarter. Amundi lifted its holdings in shares of Flex by 8.1% in the first quarter. Amundi now owns 643,315 shares of the technology company's stock valued at $21,281,000 after purchasing an additional 48,322 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Flex by 73.6% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,777,753 shares of the technology company's stock worth $91,888,000 after purchasing an additional 1,177,970 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec raised its position in shares of Flex by 0.9% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 49,785 shares of the technology company's stock worth $1,647,000 after purchasing an additional 467 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Insider Transactions at Flex

In other Flex news, EVP David Scott Offer sold 9,759 shares of Flex stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $43.25, for a total transaction of $422,076.75. Following the transaction, the executive vice president directly owned 61,242 shares in the company, valued at approximately $2,648,716.50. The trade was a 13.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William D. Watkins sold 10,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was 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 of the company's stock, valued at approximately $5,767,075.45. This represents a 8.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 279,827 shares of company stock worth $12,550,282. 0.57% of the stock is currently owned by insiders.

Flex Price Performance

Shares of FLEX traded up $0.18 during trading hours on Monday, hitting $55.84. 3,030,857 shares of the company were exchanged, compared to its average volume of 4,068,841. The firm has a fifty day simple moving average of $51.54 and a 200-day simple moving average of $42.58. The company has a market capitalization of $20.96 billion, a PE ratio of 24.49, a PEG ratio of 1.89 and a beta of 1.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.36 and a quick ratio of 0.83. Flex Ltd. has a one year low of $25.11 and a one year high of $56.85.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.09. Flex had a return on equity of 20.25% and a net margin of 3.42%.The business had revenue of $6.58 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same quarter last year, the company posted $0.51 EPS. Flex's revenue for the quarter was up 4.1% on a year-over-year basis. 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 predict that Flex Ltd. will post 2.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on FLEX. JPMorgan Chase & Co. raised their price target on Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. KeyCorp upped their price target on Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Stifel Nicolaus upped their target price on shares of Flex from $45.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Barclays lifted their price objective on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Flex in a research note on Friday, July 11th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Flex currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.71.

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.