Flex Ltd. $FLEX Stake Raised by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Flex Ltd. by 5.7% during the 2nd quarter, owning 339,270 shares valued at approximately $16.9 million.
• A number of analysts have raised their price targets for Flex, with Barclays setting a new target of $60, and KeyCorp increasing theirs to $70.
• Flex reported a net margin of 3.42% and $6.58 billion in revenue for the last quarter, surpassing analysts' expectations.

Aberdeen Group plc boosted its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 339,270 shares of the technology company's stock after acquiring an additional 18,382 shares during the quarter. Aberdeen Group plc owned about 0.09% of Flex worth $16,936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in Flex in the first quarter worth about $25,000. Cullen Frost Bankers Inc. bought a new stake in Flex in the first quarter worth about $26,000. Olde Wealth Management LLC bought a new stake in Flex in the first quarter worth about $26,000. Pinnacle Bancorp Inc. increased its stake in Flex by 39.4% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 864 shares of the technology company's stock worth $43,000 after purchasing an additional 244 shares in the last quarter. Finally, CX Institutional purchased a new position in Flex in the 1st quarter worth about $29,000. 94.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Barclays lifted their price target on Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. KGI Securities cut Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. The Goldman Sachs Group set a $66.00 price target on Flex in a research note on Monday, September 29th. KeyCorp lifted their price target on Flex from $60.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Flex in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $59.71.

Flex Trading Up 1.3%

NASDAQ:FLEX opened at $59.60 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.36 and a quick ratio of 0.83. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $60.49. The stock's 50-day moving average is $55.01 and its two-hundred day moving average is $46.62. The stock has a market cap of $22.37 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.91 and a beta of 1.15.

Flex (NASDAQ:FLEX - Get Free Report) last released 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 analysts' expectations of $6.27 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The business's revenue for the quarter 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, equities research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Flex

In other news, COO Kwang Hooi Tan sold 12,500 shares of Flex stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $50.25, for a total transaction of $628,125.00. Following the completion of the sale, the chief operating officer directly owned 263,636 shares in the company, valued at $13,247,709. The trade was a 4.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $56.66, for a total value of $566,600.00. Following the sale, the chief accounting officer owned 37,619 shares of the company's stock, valued at approximately $2,131,492.54. This represents a 21.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,020 shares of company stock worth $4,923,667 over the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.