Clear Harbor Asset Management LLC Has $43.03 Million Stake in Flex Ltd. $FLEX

Key Points

• Clear Harbor Asset Management LLC has reduced its stake in Flex Ltd. by 0.6%, now holding 861,984 shares, which represents 3.2% of its portfolio.
• Multiple institutional investors, including Avanza Fonder AB and UMB Bank n.a., have increased their stakes in Flex during the second quarter, while 94.30% of the stock is owned by such investors.
• Analysts have generally positive outlooks for Flex, with a consensus target price of $53.71 and ratings ranging from "buy" to "overweight" from several major financial institutions.

Clear Harbor Asset Management LLC cut its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 861,984 shares of the technology company's stock after selling 5,313 shares during the quarter. Flex makes up about 3.2% of Clear Harbor Asset Management LLC's portfolio, making the stock its 3rd largest position. Clear Harbor Asset Management LLC owned approximately 0.23% of Flex worth $43,030,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. 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 valued at $43,000 after acquiring an additional 244 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Flex by 1.8% during the second quarter. Farther Finance Advisors LLC now owns 15,206 shares of the technology company's stock worth $759,000 after acquiring an additional 266 shares in the last quarter. Dynasty Wealth Management LLC increased its stake 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. WealthTrust Axiom LLC increased its stake in shares of Flex by 1.8% in the first quarter. WealthTrust Axiom LLC now owns 17,120 shares of the technology company's stock worth $566,000 after buying an additional 300 shares during the period. Finally, SBI Securities Co. Ltd. increased its position in Flex by 30.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,299 shares of the technology company's stock valued at $43,000 after purchasing an additional 306 shares during the period. Hedge funds and other institutional investors own 94.30% of the company's stock.

Insider Buying and Selling

In related news, Director William D. Watkins sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $51.79, for a total transaction of $517,900.00. Following the completion of the sale, the director directly owned 111,355 shares in the company, valued at approximately $5,767,075.45. This trade represents a 8.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Erin Mcsweeney sold 10,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $51.47, for a total value of $514,700.00. Following the completion of the sale, the director directly owned 17,012 shares in the company, valued at approximately $875,607.64. This represents a 37.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,020 shares of company stock valued at $4,923,667. 0.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FLEX. Stifel Nicolaus upped their price target on shares of Flex from $45.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. 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 report on Thursday, July 17th. Barclays upped 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. Bank of America lifted their target price on Flex from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Finally, KGI Securities lowered Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Flex has a consensus rating of "Moderate Buy" and a consensus price target of $53.71.

Flex Stock Performance

Shares of FLEX stock traded up $0.36 during midday trading on Monday, hitting $59.01. The company had a trading volume of 3,140,616 shares, compared to its average volume of 3,463,484. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.36 and a quick ratio of 0.83. The company's 50 day simple moving average is $52.93 and its 200 day simple moving average is $44.14. The stock has a market cap of $22.15 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 2.00 and a beta of 1.12. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $59.20.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $6.27 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The business's revenue for the quarter 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. Research analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

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.