Allianz Asset Management GmbH Sells 447,156 Shares of Flex Ltd. $FLEX

Key Points

• Allianz Asset Management cut its Flex stake by 18.7% in the fourth quarter, selling 447,156 shares and leaving it with 1,946,307 shares valued at about $117.6 million.
• Flex is drawing heavy institutional interest overall, with 94.3% of shares held by hedge funds and other institutional investors; Vanguard and several other firms also significantly increased or initiated positions.
• Analysts remain upbeat on FLEX, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus; recent headlines also highlighted Flex’s planned S&P 500 inclusion and its growing role in AI infrastructure.

Allianz Asset Management GmbH lessened its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 18.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,946,307 shares of the technology company's stock after selling 447,156 shares during the quarter. Allianz Asset Management GmbH owned 0.53% of Flex worth $117,596,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FLEX. Vanguard Group Inc. boosted its position in shares of Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company's stock valued at $2,341,053,000 after buying an additional 25,662,586 shares during the last quarter. Norges Bank purchased a new stake in shares of Flex during the fourth quarter valued at $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Flex during the fourth quarter valued at $2,497,000. Sequoia Financial Advisors LLC boosted its position in shares of Flex by 12.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company's stock valued at $10,469,000 after buying an additional 19,270 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Flex by 62.3% during the fourth quarter. Teacher Retirement System of Texas now owns 340,389 shares of the technology company's stock valued at $20,566,000 after buying an additional 130,641 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FLEX. Stifel Nicolaus boosted 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. The Goldman Sachs Group lifted their price objective on Flex from $84.00 to $177.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. KeyCorp lifted their price objective on Flex from $75.00 to $180.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday, April 16th. Finally, Robert W. Baird set a $165.00 price target on Flex in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $115.70.

Key Headlines Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex announced it will join the S&P 500, a milestone that validates the company’s transformation and could bring incremental index-fund buying. Flex to Join S&P 500 Index
• Positive Sentiment: Barclays lifted its price target on Flex to $203 from $174, citing strength in AI-related and other business segments, which reinforces a bullish fundamental view. Barclays Lifts PT on Flex Ltd. (FLEX), Cites AI and Business Segments
• Neutral Sentiment: Market commentary continues to frame FLEX as an emerging AI infrastructure play, which may support a higher valuation over time but does not immediately change near-term fundamentals. Flex To Enter S&P 500 Positioned As A Major AI Infrastructure Player
• Negative Sentiment: The stock is also seeing some profit-taking after a strong run, and investors appear cautious about Flex’s new $1.45 billion term-loan financing and near-term leverage/capex needs. Flex slides 5.3% as investors digest fresh debt financing and take profits after a strong run

Insider Activity

In related news, insider Michael P. Hartung sold 22,216 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $142.38, for a total transaction of $3,163,114.08. Following the sale, the insider directly owned 232,706 shares of the company's stock, valued at $33,132,680.28. This trade represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Erin Mcsweeney sold 2,000 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $132.51, for a total value of $265,020.00. Following the sale, the director directly owned 9,512 shares in the company, valued at approximately $1,260,435.12. This trade represents a 17.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 345,012 shares of company stock valued at $48,508,103 over the last 90 days. Company insiders own 0.57% of the company's stock.

Flex Price Performance

Shares of FLEX stock opened at $139.49 on Thursday. Flex Ltd. has a twelve month low of $42.83 and a twelve month high of $166.86. The stock has a market capitalization of $51.11 billion, a price-to-earnings ratio of 59.87, a P/E/G ratio of 0.77 and a beta of 1.64. The stock has a fifty day simple moving average of $112.51 and a two-hundred day simple moving average of $80.75. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The firm had revenue of $7.48 billion during the quarter. On average, analysts predict that Flex Ltd. will post 4.15 EPS for the current fiscal year.

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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