Ashton Thomas Private Wealth LLC Grows Holdings in Flex Ltd. $FLEX

Key Points

• Ashton Thomas Private Wealth LLC increased its holdings in Flex Ltd. by 23.8%, acquiring an additional 9,307 shares, bringing its total to 48,338 shares valued at approximately $1,599,000.
• Flex reported $0.72 EPS for its recent quarter, exceeding estimates of $0.63, with revenues reaching $6.58 billion, compared to expectations of $6.27 billion.
• Multiple institutions, including Invesco Ltd. and Alyeska Investment Group, notably increased their positions in Flex, with institutional investors now owning 94.30% of the company’s stock.

Ashton Thomas Private Wealth LLC raised its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 23.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,338 shares of the technology company's stock after purchasing an additional 9,307 shares during the period. Ashton Thomas Private Wealth LLC's holdings in Flex were worth $1,599,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FLEX. Jump Financial LLC purchased a new position in shares of Flex in the first quarter worth about $2,882,000. Sowell Financial Services LLC acquired a new stake in shares of Flex during the first quarter valued at about $246,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Flex by 7,157.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,016 shares of the technology company's stock valued at $2,290,000 after acquiring an additional 68,065 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Flex by 7.6% during the first quarter. Sequoia Financial Advisors LLC now owns 107,713 shares of the technology company's stock valued at $3,563,000 after acquiring an additional 7,637 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in shares of Flex by 20.9% in the first quarter. DAVENPORT & Co LLC now owns 6,930 shares of the technology company's stock valued at $229,000 after purchasing an additional 1,200 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $44.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Bank of America boosted their price target on shares of Flex from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Stifel Nicolaus boosted their price objective on shares of Flex from $45.00 to $52.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. The Goldman Sachs Group restated a "buy" rating on shares of Flex in a research report on Friday, July 11th. Finally, KeyCorp boosted their price objective on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $53.71.

Flex Stock Performance

FLEX traded up $0.78 during trading on Monday, hitting $58.07. The stock had a trading volume of 532,502 shares, compared to its average volume of 4,034,716. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.36. The firm has a market capitalization of $21.80 billion, a P/E ratio of 25.46, a PEG ratio of 1.95 and a beta of 1.12. The company's 50-day moving average price is $52.19 and its 200 day moving average price is $43.21. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $58.60.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The technology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.09. Flex had a net margin of 3.42% and a return on equity of 20.25%. The company had revenue of $6.58 billion for the quarter, compared to analysts' expectations of $6.27 billion. During the same period in the previous year, the company posted $0.51 EPS. Flex'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. On average, equities research analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling at Flex

In related news, Director Erin Mcsweeney sold 10,000 shares of the stock in a transaction dated 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 directly owned 17,012 shares of the company's stock, valued at approximately $875,607.64. This represents a 37.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Kwang Hooi Tan sold 12,500 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $50.25, for a total transaction of $628,125.00. Following the completion of the sale, the chief operating officer directly owned 263,636 shares in the company, valued at approximately $13,247,709. The trade was a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,013 shares of company stock worth $5,097,662. Company insiders own 0.57% of the company's stock.

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.