Flex Ltd. $FLEX Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC reduced its stake in Flex Ltd. by 10.1%, holding 59,665 shares worth approximately $1.97 million after selling 6,707 shares in the first quarter.
• Multiple hedge funds, including Invesco Ltd. and Pacer Advisors Inc., significantly increased their positions in Flex, with Invesco boosting its holdings by 55.0% and Pacer by 3,794.6%.
• Equities analysts have raised their price targets for Flex, with several firms setting targets between $52.00 and $60.00 and maintaining a consensus rating of "Moderate Buy."

NewEdge Advisors LLC trimmed its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,665 shares of the technology company's stock after selling 6,707 shares during the period. NewEdge Advisors LLC's holdings in Flex were worth $1,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in FLEX. Invesco Ltd. increased its position in shares of Flex by 55.0% in the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock valued at $276,652,000 after acquiring an additional 2,968,285 shares during the period. Pacer Advisors Inc. boosted its holdings in Flex by 3,794.6% in the first quarter. Pacer Advisors Inc. now owns 2,900,133 shares of the technology company's stock valued at $95,936,000 after purchasing an additional 2,825,667 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in Flex by 73.6% in the first quarter. Alyeska Investment Group L.P. now owns 2,777,753 shares of the technology company's stock valued at $91,888,000 after purchasing an additional 1,177,970 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Flex by 4.8% in the first quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company's stock valued at $719,232,000 after purchasing an additional 996,276 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in Flex in the fourth quarter valued at $35,121,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stifel Nicolaus upped their price target on shares of Flex from $45.00 to $52.00 and gave the company a "buy" rating in a report on Friday, July 25th. KeyCorp upped their price target on shares of Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Wall Street Zen raised shares of Flex from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. increased their target price on shares of Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, Barclays increased their target price on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $53.71.

Flex Trading Down 0.6%

Shares of Flex stock opened at $57.73 on Friday. The firm has a market capitalization of $21.67 billion, a PE ratio of 25.32, a P/E/G ratio of 1.98 and a beta of 1.13. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $58.60. The firm's 50-day moving average price is $52.08 and its 200 day moving average price is $43.02. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.09. The firm had revenue of $6.58 billion for the quarter, compared to analyst estimates of $6.27 billion. Flex had a net margin of 3.42% and a return on equity of 20.25%. Flex's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.51 EPS. Flex has set its FY 2026 guidance at 2.860-3.060 EPS. Q2 2026 guidance at 0.700-0.780 EPS. On average, sell-side analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Transactions at Flex

In other Flex news, CEO Revathi Advaithi sold 37,465 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total value of $1,686,299.65. Following the completion of the sale, the chief executive officer owned 1,363,312 shares in the company, valued at approximately $61,362,673.12. This represents a 2.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael P. Hartung sold 6,887 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total transaction of $309,983.87. Following the completion of the sale, the insider owned 303,718 shares of the company's stock, valued at approximately $13,670,347.18. The trade was a 2.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,013 shares of company stock worth $4,531,062 in the last three months. 0.57% of the stock is owned by corporate insiders.

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.

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