Flex Ltd. $FLEX Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A reduced its position in Flex Ltd. by 10.5% during the first quarter, now holding 42,034 shares valued at approximately $1.39 million.
• Flex reported a quarterly earnings of $0.72 EPS, exceeding analysts' estimates of $0.63, with revenue of $6.58 billion, up 4.1% from the previous year.
• Institutional investors own approximately 94.30% of Flex's stock, indicating strong market confidence in the company.

Credit Agricole S A trimmed its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,034 shares of the technology company's stock after selling 4,952 shares during the period. Credit Agricole S A's holdings in Flex were worth $1,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Olde Wealth Management LLC acquired a new stake in Flex during the 1st quarter worth about $26,000. Cullen Frost Bankers Inc. purchased a new position in Flex in the 1st quarter valued at about $26,000. CX Institutional acquired a new stake in shares of Flex during the 1st quarter worth approximately $29,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Flex during the 4th quarter worth approximately $35,000. Finally, CWM LLC increased its holdings in shares of Flex by 73.3% during the 1st quarter. CWM LLC now owns 1,281 shares of the technology company's stock worth $42,000 after buying an additional 542 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLEX has been the subject of a number of recent analyst reports. Bank of America raised 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. KGI Securities cut shares of Flex from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. KeyCorp lifted 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. Finally, Stifel Nicolaus lifted 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. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $53.71.

Insider Activity

In related news, CAO Daniel Wendler sold 1,245 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total transaction of $56,037.45. Following the sale, the chief accounting officer owned 47,619 shares of the company's stock, valued at approximately $2,143,331.19. The trade was a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William D. Watkins sold 10,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $51.79, for a total transaction of $517,900.00. Following the sale, 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. Insiders have sold 681,706 shares of company stock valued at $29,778,944 in the last quarter. Insiders own 0.57% of the company's stock.

Flex Stock Performance

FLEX traded down $1.56 on Friday, reaching $53.20. The company had a trading volume of 1,657,726 shares, compared to its average volume of 4,080,079. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $54.83. The stock has a market capitalization of $19.97 billion, a PE ratio of 23.32, a P/E/G ratio of 1.83 and a beta of 1.05. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $50.82 and a 200-day moving average price of $42.09.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The technology company reported $0.72 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $6.27 billion. During the same period in the previous year, the business posted $0.51 earnings per share. Flex's quarterly revenue was up 4.1% on a year-over-year basis. 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, research analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

About Flex

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.