Gateway Investment Advisers LLC Has $2.33 Million Stock Position in Flex Ltd. $FLEX

Key Points

• Gateway Investment Advisers LLC reduced its holdings in Flex Ltd. by 59.1%, resulting in ownership of 46,751 shares after selling 67,451 shares in the second quarter.
• A wave of institutional investors, including CWM LLC and Rise Advisors LLC, have increased their stakes in Flex Ltd., with 94.30% of the stock now owned by institutional entities.
• Flex's stock received multiple upgrades from analysts, with Barclays raising the target price from $50.00 to $60.00 and maintaining an "overweight" rating based on a positive earnings report that exceeded analysts' expectations.

Gateway Investment Advisers LLC lessened its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 59.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,751 shares of the technology company's stock after selling 67,451 shares during the period. Gateway Investment Advisers LLC's holdings in Flex were worth $2,334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rise Advisors LLC acquired a new stake in shares of Flex in the first quarter worth $25,000. Olde Wealth Management LLC acquired a new stake in shares of Flex during the 1st quarter worth about $26,000. Cullen Frost Bankers Inc. bought a new position in Flex during the 1st quarter worth approximately $26,000. CX Institutional acquired a new stake in shares of Flex in the first quarter valued at approximately $29,000. Finally, CWM LLC increased its holdings in shares of Flex by 73.3% in the first quarter. CWM LLC now owns 1,281 shares of the technology company's stock valued at $42,000 after purchasing an additional 542 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FLEX shares. Bank of America increased their price target on Flex from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. boosted their target price on Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a research 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. KGI Securities downgraded Flex from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Finally, KeyCorp raised 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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $53.71.

Flex Price Performance

NASDAQ FLEX traded up $0.52 on Friday, hitting $58.65. 7,986,894 shares of the company's stock were exchanged, compared to its average volume of 3,226,244. The stock has a market cap of $22.01 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 2.00 and a beta of 1.13. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $58.80. The stock has a 50-day moving average of $52.79 and a 200-day moving average of $43.90. 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 (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.09. Flex had a net margin of 3.42% and a return on equity of 20.25%. The company had revenue of $6.58 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same quarter last year, the business posted $0.51 EPS. Flex's quarterly revenue 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. Analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Activity at Flex

In other news, Director William D. Watkins sold 10,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $51.79, for a total value of $517,900.00. Following the completion of the sale, the director owned 111,355 shares of the company's stock, valued at approximately $5,767,075.45. This represents a 8.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael P. Hartung sold 45,000 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $57.14, for a total transaction of $2,571,300.00. Following the completion of the sale, the insider owned 256,198 shares in the company, valued at $14,639,153.72. The trade was a 14.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,020 shares of company stock worth $4,923,667 in the last three months. 0.57% of the stock is owned by insiders.

Flex Company 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.