BNP Paribas Financial Markets Buys 232,876 Shares of Flex Ltd. $FLEX

Key Points

• BNP Paribas Financial Markets increased its Flex stake by 249.3% in the fourth quarter, buying 232,876 additional shares and bringing its total holdings to 326,293 shares valued at about $19.7 million.
• Flex has seen broad institutional interest, with 94.3% of shares owned by institutions and Vanguard also making a large addition to its position during the quarter.
• Analysts remain constructive on Flex after strong recent results and growth initiatives, with multiple firms raising price targets and the stock carrying a consensus Moderate Buy rating.

BNP Paribas Financial Markets increased its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 249.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 326,293 shares of the technology company's stock after purchasing an additional 232,876 shares during the period. BNP Paribas Financial Markets owned approximately 0.09% of Flex worth $19,715,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Flex by 196.1% in the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company's stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares during the last quarter. Norges Bank purchased a new position in shares of Flex in the 4th quarter valued at $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Flex in the 4th quarter valued at $2,497,000. Sequoia Financial Advisors LLC raised its stake in shares of Flex by 12.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company's stock valued at $10,469,000 after acquiring an additional 19,270 shares during the period. Finally, Nordea Investment Management AB purchased a new position in shares of Flex in the 4th quarter valued at $2,056,000. 94.30% of the stock is currently owned by institutional investors.

Flex Price Performance

Shares of FLEX stock opened at $151.92 on Friday. The firm has a market cap of $55.66 billion, a P/E ratio of 65.20, a P/E/G ratio of 0.84 and a beta of 1.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. Flex Ltd. has a 1-year low of $42.60 and a 1-year high of $166.86. The firm has a fifty day moving average of $107.57 and a two-hundred day moving average of $78.73.

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

Insider Buying and Selling at Flex

In related news, insider Michael P. Hartung sold 22,216 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $142.38, for a total transaction of $3,163,114.08. Following the completion of the sale, the insider owned 232,706 shares of the company's stock, valued at $33,132,680.28. This represents a 8.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 17,500 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $135.93, for a total transaction of $2,378,775.00. Following the sale, the chief operating officer directly owned 238,543 shares of the company's stock, valued at approximately $32,425,149.99. This represents a 6.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 362,512 shares of company stock worth $49,538,328. 0.57% of the stock is owned by company insiders.

Key Headlines Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex is highlighted as a potential winner in a strengthening electronics sector, with analysts pointing to infrastructure investment and capacity expansion as tailwinds for the business. Article Title
• Positive Sentiment: Investors are reacting to Flex’s growth strategy, including the planned separation of its Power and Cloud portfolio and an acquisition in electrical power, which could expand its exposure to AI data centers, grid modernization, and electrification. Article Title
• Neutral Sentiment: A Zacks follow-up notes that FLEX has risen since its last earnings report, but questions remain about whether the momentum can continue, making this more of a status update than a clear catalyst. Article Title
• Negative Sentiment: EVP David Scott Offer sold 33,000 shares in a pre-arranged 10b5-1 transaction, trimming his stake by about 31%; while routine, insider selling can still weigh on sentiment. Article Title

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Flex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. raised their target price on shares of Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Barclays lifted their price target on shares of Flex from $174.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday. Robert W. Baird set a $165.00 price target on shares of Flex in a research note on Thursday, May 7th. Finally, Stifel Nicolaus lifted their price target on shares of Flex from $75.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.70.

Flex 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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