Alyeska Investment Group L.P. Buys 1,177,970 Shares of Flex Ltd. $FLEX

Key Points

• Alyeska Investment Group L.P. increased its holdings in Flex Ltd. by 73.6%, now owning approximately 2,777,753 shares valued at nearly $91.89 million as of their latest SEC filing.
• Several large investors, including Wellington Management Group and Invesco Ltd., have also raised their stakes in Flex, indicating strong institutional interest with approximately 94.30% of the company's stock owned by institutions and hedge funds.
• Flex's recent quarterly earnings report showed earnings per share of $0.72, surpassing analyst expectations, with a revenue increase of 4.1% year-over-year, indicating positive financial growth.

Alyeska Investment Group L.P. grew its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 73.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,777,753 shares of the technology company's stock after buying an additional 1,177,970 shares during the period. Alyeska Investment Group L.P. owned 0.73% of Flex worth $91,888,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in shares of Flex by 4.8% during the 1st quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company's stock valued at $719,232,000 after buying an additional 996,276 shares in the last quarter. Invesco Ltd. lifted its position in shares of Flex by 55.0% during the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock valued at $276,652,000 after buying an additional 2,968,285 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Flex by 3.2% during the 1st quarter. Earnest Partners LLC now owns 4,121,113 shares of the technology company's stock valued at $136,326,000 after buying an additional 128,464 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Flex by 3,794.6% during the 1st quarter. Pacer Advisors Inc. now owns 2,900,133 shares of the technology company's stock valued at $95,936,000 after buying an additional 2,825,667 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Flex by 22.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,681,792 shares of the technology company's stock valued at $102,954,000 after buying an additional 497,307 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on FLEX. Wall Street Zen raised Flex from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. boosted their price target on Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Bank of America boosted their price target on Flex from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Barclays boosted their price target on Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Finally, Stifel Nicolaus boosted their price target on Flex from $45.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.71.

Flex Price Performance

NASDAQ:FLEX traded up $0.49 during trading hours on Friday, reaching $55.66. The stock had a trading volume of 3,408,809 shares, compared to its average volume of 3,327,737. 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 $56.58. The company has a 50 day moving average price of $51.54 and a two-hundred day moving average price of $42.57. The stock has a market capitalization of $20.89 billion, a PE ratio of 24.41, a PEG ratio of 1.89 and a beta of 1.13.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The technology company reported $0.72 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the company posted $0.51 EPS. The company's revenue was up 4.1% compared to the same quarter last year. 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.

Insiders Place Their Bets

In other Flex news, Director Erin Mcsweeney sold 10,000 shares of Flex stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $51.47, for a total value of $514,700.00. Following the sale, the director owned 17,012 shares of the company's stock, valued at $875,607.64. The trade was a 37.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William D. Watkins sold 10,000 shares of the business's stock in a transaction that occurred 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 transaction, 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. Over the last quarter, insiders have sold 279,827 shares of company stock worth $12,550,282. Insiders own 0.57% of the company's stock.

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.