Flex Ltd. $FLEX is Lyrical Asset Management LP's 2nd Largest Position

Key Points

• Lyrical Asset Management cut its Flex stake by 7.5% in the fourth quarter, but FLEX remains its second-largest holding. The fund still owned 7.54 million shares valued at about $455.4 million, representing roughly 2.05% of the company.
• Flex reported Q1 earnings of $0.93 per share on revenue of $7.48 billion, with analysts expecting full-year EPS of 4.15. The stock has also attracted significant institutional ownership, with hedge funds and other investors holding 94.3% of shares.
• Recent insider activity has been a mixed signal: CEO Revathi Advaithi and COO Kwang Hooi Tan both sold shares in May, and insiders have sold 345,012 shares over the last 90 days. Meanwhile, analysts remain mostly constructive, with several firms raising targets and the consensus rating sitting at Moderate Buy.

Lyrical Asset Management LP lessened its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,537,378 shares of the technology company's stock after selling 613,110 shares during the quarter. Flex accounts for about 6.3% of Lyrical Asset Management LP's holdings, making the stock its 2nd biggest holding. Lyrical Asset Management LP owned approximately 2.05% of Flex worth $455,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of FLEX. Brighton Jones LLC purchased a new position in Flex during the fourth quarter worth about $260,000. Goldman Sachs Group Inc. boosted its stake in Flex by 19.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company's stock worth $42,314,000 after buying an additional 211,046 shares during the period. Empowered Funds LLC purchased a new position in Flex during the first quarter worth about $397,000. EverSource Wealth Advisors LLC boosted its stake in Flex by 63.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company's stock worth $132,000 after buying an additional 1,031 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Flex by 92.4% during the second quarter. First Trust Advisors LP now owns 62,078 shares of the technology company's stock worth $3,099,000 after purchasing an additional 29,821 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Flex Price Performance

Shares of Flex stock opened at $151.92 on Monday. Flex Ltd. has a 52-week low of $42.60 and a 52-week high of $166.86. The company has a 50 day moving average of $107.57 and a 200 day moving average of $78.87. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $55.66 billion, a P/E ratio of 65.20, a P/E/G ratio of 0.80 and a beta of 1.63.

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

Insider Buying and Selling

In related news, CEO Revathi Advaithi sold 114,090 shares of Flex stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $142.37, for a total value of $16,242,993.30. Following the completion of the transaction, the chief executive officer owned 689,022 shares in the company, valued at $98,096,062.14. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 26,175 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $142.37, for a total transaction of $3,726,534.75. Following the sale, the chief operating officer directly owned 256,043 shares in the company, valued at approximately $36,452,841.91. The trade was a 9.27% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 345,012 shares of company stock valued at $48,508,103 over the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Trending Headlines about 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

Analyst Ratings Changes

Several brokerages have recently issued reports on FLEX. Barclays increased their price target on shares of Flex from $174.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday. Zacks Research upgraded shares of Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. KeyCorp increased their target price on shares of Flex from $75.00 to $180.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Robert W. Baird set a $165.00 target price on shares of Flex in a report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Flex from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $115.70.

Flex Company 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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