AQR Capital Management LLC Acquires 167,735 Shares of Flex Ltd. $FLEX

Key Points

• AQR Capital Management LLC has increased its holdings in Flex Ltd. by 50.5%, owning 500,170 shares valued at approximately $16.2 million after acquiring an additional 167,735 shares in the first quarter.
• Several hedge funds have also raised their positions in Flex, with Pacer Advisors Inc. increasing its stake by 3,794.6% during the same period.
• Analysts have set a consensus rating of "Moderate Buy" for Flex with an average price target of $53.71, reflecting optimism about the company's growth.

AQR Capital Management LLC grew its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 50.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 500,170 shares of the technology company's stock after purchasing an additional 167,735 shares during the period. AQR Capital Management LLC owned about 0.13% of Flex worth $16,191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Olde Wealth Management LLC bought a new stake in Flex during the first quarter valued at about $26,000. Cullen Frost Bankers Inc. bought a new stake in Flex during the first quarter valued at about $26,000. CX Institutional bought a new stake in Flex during the first quarter valued at about $29,000. CWM LLC grew its holdings in Flex by 73.3% during the first 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. Finally, SBI Securities Co. Ltd. grew its holdings in Flex by 30.8% during the first quarter. SBI Securities Co. Ltd. now owns 1,299 shares of the technology company's stock valued at $43,000 after purchasing an additional 306 shares during the period. Institutional investors own 94.30% of the company's stock.

Insider Buying and Selling

In other Flex news, insider Michael P. Hartung sold 2,520 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $49.62, for a total transaction of $125,042.40. Following the sale, the insider directly owned 301,198 shares in the company, valued at $14,945,444.76. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Erin Mcsweeney sold 10,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were 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 in the company, valued at approximately $875,607.64. This trade represents a 37.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,013 shares of company stock valued at $5,097,662 in the last ninety days. Company insiders own 0.57% of the company's stock.

Flex Price Performance

Shares of NASDAQ:FLEX traded down $0.44 during mid-day trading on Friday, reaching $57.29. The stock had a trading volume of 2,258,175 shares, compared to its average volume of 3,468,910. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The company has a market cap of $21.50 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 1.96 and a beta of 1.13. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $58.60. The business's 50 day moving average price is $52.19 and its 200 day moving average price is $43.14.

Flex (NASDAQ:FLEX - Get Free Report) last posted 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 company had revenue of $6.58 billion for 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%.The firm's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $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. Research analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FLEX. Stifel Nicolaus boosted their price target on Flex from $45.00 to $52.00 and gave the company a "buy" rating in a report on Friday, July 25th. JPMorgan Chase & Co. boosted their price objective on Flex from $44.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Barclays boosted their price objective on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. KGI Securities downgraded Flex from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Finally, KeyCorp boosted their price objective on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock 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.