Flex Ltd. $FLEX Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital cut its stake in Flex by 34.2% in Q3, selling 409,280 shares and retaining 788,334 shares (~0.21% ownership) valued at about $45.7 million, while institutional ownership remains high at 94.3%.
• Flex beat quarterly estimates with EPS of $0.87 versus $0.79 and revenue of $7.06 billion versus $6.84 billion, and issued FY2026 guidance of 3.210–3.270 EPS (Q4 guidance 0.830–0.890).
• Analyst sentiment is a "Moderate Buy" (eight Buys, three Holds) with an average price target of $66.78; Goldman Sachs and Raymond James recently raised targets to $74 and $80, respectively.

Victory Capital Management Inc. reduced its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 34.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 788,334 shares of the technology company's stock after selling 409,280 shares during the quarter. Victory Capital Management Inc. owned approximately 0.21% of Flex worth $45,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. MTM Investment Management LLC acquired a new position in shares of Flex during the 2nd quarter valued at about $26,000. CENTRAL TRUST Co boosted its position in shares of Flex by 238.3% in the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company's stock worth $29,000 after acquiring an additional 355 shares during the last quarter. Rexford Capital Inc. purchased a new stake in Flex in the second quarter valued at approximately $57,000. Root Financial Partners LLC acquired a new position in Flex during the third quarter worth approximately $57,000. Finally, CI Investments Inc. increased its position in Flex by 60.4% during the third quarter. CI Investments Inc. now owns 1,022 shares of the technology company's stock worth $59,000 after purchasing an additional 385 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Flex from $67.00 to $74.00 and gave the company a "buy" rating in a report on Tuesday, December 9th. Raymond James Financial set a $80.00 target price on Flex and gave the stock an "outperform" rating in a research report on Wednesday, February 4th. Zacks Research downgraded Flex from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 29th. Jefferies Financial Group restated a "hold" rating and set a $23.00 price target on shares of Flex in a research note on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Flex in a research note on Monday, December 29th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $66.78.

Flex Stock Performance

Shares of FLEX stock opened at $59.91 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. The company has a market cap of $22.03 billion, a PE ratio of 26.87, a P/E/G ratio of 1.46 and a beta of 1.24. The company's fifty day simple moving average is $63.65 and its 200-day simple moving average is $61.14. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $72.22.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.08. Flex had a net margin of 3.17% and a return on equity of 20.99%. The firm had revenue of $7.06 billion during the quarter, compared to analysts' expectations of $6.84 billion. During the same period in the prior year, the company earned $0.77 EPS. The firm's revenue was up 7.7% on a year-over-year basis. Flex has set its FY 2026 guidance at 3.210-3.270 EPS and its Q4 2026 guidance at 0.830-0.890 EPS. As a group, equities research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Insider Activity

In other news, CFO Kevin Krumm sold 21,406 shares of the company's stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total value of $1,310,689.38. Following the completion of the sale, the chief financial officer owned 143,803 shares of the company's stock, valued at $8,805,057.69. This represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Daniel Wendler sold 10,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $71.97, for a total value of $719,700.00. Following the completion of the sale, the chief accounting officer owned 27,619 shares of the company's stock, valued at approximately $1,987,739.43. This trade represents a 26.58% decrease in their position. The SEC filing for this sale provides additional information. 0.57% of the stock is owned by corporate insiders.

About Flex

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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