Flex Ltd. $FLEX Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Flex Ltd. by 3.6% in Q1, owning now around 0.11% of the company valued at approximately $13.9 million.
• Several hedge funds have recently increased or initiated positions in Flex Ltd., with institutional investors holding about 94.3% of the company's stock.
• Flex Ltd. reported a quarterly EPS of $0.72, surpassing estimates of $0.63, and its revenue for the quarter was $6.58 billion, exceeding expectations of $6.27 billion.

Corebridge Financial Inc. reduced its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 420,574 shares of the technology company's stock after selling 15,517 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Flex worth $13,913,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of FLEX. Olde Wealth Management LLC purchased a new stake in Flex during the 1st quarter worth approximately $26,000. Cullen Frost Bankers Inc. purchased a new stake in Flex during the 1st quarter worth approximately $26,000. CX Institutional purchased a new stake in Flex during the 1st quarter worth approximately $29,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Flex during the 4th quarter worth approximately $35,000. Finally, CWM LLC increased its holdings in Flex by 73.3% during the 1st quarter. CWM LLC now owns 1,281 shares of the technology company's stock worth $42,000 after purchasing an additional 542 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. The Goldman Sachs Group restated a "buy" rating on shares of Flex in a report on Friday, July 11th. KGI Securities downgraded Flex from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Barclays boosted their price target on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Stifel Nicolaus boosted their price target on Flex from $45.00 to $52.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, KeyCorp boosted their price target on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $53.71.

Flex Stock Performance

Shares of NASDAQ FLEX traded down $1.14 during trading on Monday, reaching $53.62. The stock had a trading volume of 3,153,735 shares, compared to its average volume of 3,555,296. Flex Ltd. has a one year low of $25.11 and a one year high of $54.83. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.36. The stock has a market cap of $20.12 billion, a PE ratio of 23.52, a P/E/G ratio of 1.82 and a beta of 1.12. The firm's 50 day moving average price is $50.97 and its two-hundred day moving average price is $42.16.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The technology company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.09. The firm had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $6.27 billion. Flex had a return on equity of 20.25% and a net margin of 3.42%.The firm's revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $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, research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP David Scott Offer sold 35,394 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $42.87, for a total transaction of $1,517,340.78. Following the completion of the transaction, the executive vice president directly owned 140,013 shares in the company, valued at $6,002,357.31. This represents a 20.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Kwang Hooi Tan sold 37,533 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $42.87, for a total value of $1,609,039.71. Following the transaction, the chief operating officer owned 269,151 shares of the company's stock, valued at approximately $11,538,503.37. The trade was a 12.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 669,206 shares of company stock valued at $29,253,069 in the last 90 days. Corporate insiders own 0.57% of the company's stock.

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.