Flex Ltd. $FLEX Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Flex Ltd. by 10.4% during Q2, selling 235,729 shares, and now owns approximately 0.54% of the company, valued at $101.48 million.
• Flex Ltd. reported $0.72 earnings per share for Q2, exceeding the consensus estimate of $0.63, with revenues of $6.58 billion, significantly above analyst expectations.
• The company has a current market cap of $23.77 billion and is receiving positive attention from analysts, with multiple price target increases and a consensus rating of "Moderate Buy."

Allianz Asset Management GmbH cut its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,032,910 shares of the technology company's stock after selling 235,729 shares during the quarter. Allianz Asset Management GmbH owned 0.54% of Flex worth $101,483,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. BayBridge Capital Group LLC grew its holdings in shares of Flex by 2.1% in the 2nd quarter. BayBridge Capital Group LLC now owns 11,400 shares of the technology company's stock worth $569,000 after acquiring an additional 235 shares during the last quarter. Pinnacle Bancorp Inc. boosted its position in shares of Flex by 39.4% in the second quarter. Pinnacle Bancorp Inc. now owns 864 shares of the technology company's stock worth $43,000 after buying an additional 244 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Flex by 1.8% in the second quarter. Farther Finance Advisors LLC now owns 15,206 shares of the technology company's stock worth $759,000 after buying an additional 266 shares during the period. Uncommon Cents Investing LLC boosted its position in shares of Flex by 4.1% in the second quarter. Uncommon Cents Investing LLC now owns 6,850 shares of the technology company's stock worth $342,000 after buying an additional 270 shares during the period. Finally, Dynasty Wealth Management LLC boosted its position in shares of Flex by 0.7% in the first quarter. Dynasty Wealth Management LLC now owns 37,233 shares of the technology company's stock worth $1,232,000 after buying an additional 276 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Price Performance

FLEX opened at $63.34 on Friday. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $64.29. The stock has a fifty day moving average price of $55.55 and a 200 day moving average price of $46.95. 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 stock has a market cap of $23.77 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 2.07 and a beta of 1.15.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on FLEX shares. The Goldman Sachs Group set a $66.00 target price on Flex in a research report on Monday, September 29th. JPMorgan Chase & Co. raised their target price on Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. KeyCorp raised their target price on Flex from $60.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, October 10th. Bank of America lifted their price objective on Flex from $58.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Finally, Barclays lifted 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. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.71.

Insider Activity at Flex

In other Flex news, CAO Daniel Wendler sold 10,000 shares of the firm's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $56.66, for a total transaction of $566,600.00. Following the transaction, the chief accounting officer directly owned 37,619 shares in the company, valued at $2,131,492.54. This trade represents a 21.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Hartung sold 45,000 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $57.14, for a total value of $2,571,300.00. Following the transaction, the insider owned 256,198 shares in the company, valued at approximately $14,639,153.72. This trade represents a 14.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,020 shares of company stock valued at $4,923,667. Insiders own 0.57% of the company's stock.

Flex 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.

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