HighTower Advisors LLC Cuts Stock Position in Flex Ltd. $FLEX

Key Points

• HighTower Advisors LLC reduced its stake in Flex Ltd. by 7.4%, holding 138,408 shares valued at $4.58 million after selling 11,054 shares in Q1.
• Flex Ltd. recently announced earnings of $0.72 EPS, exceeding estimates of $0.63, and revenues of $6.58 billion for the same quarter, which is a 4.1% increase year-over-year.
• CEO Revathi Advaithi sold 181,028 shares at an average price of $42.91, resulting in a 11.01% decrease of their stake in the company.

HighTower Advisors LLC reduced its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 7.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 138,408 shares of the technology company's stock after selling 11,054 shares during the quarter. HighTower Advisors LLC's holdings in Flex were worth $4,579,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FLEX. Brighton Jones LLC purchased a new stake in shares of Flex during the fourth quarter valued at approximately $260,000. Rockefeller Capital Management L.P. grew its holdings in Flex by 2.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company's stock valued at $488,000 after purchasing an additional 266 shares during the period. Mariner LLC grew its holdings in Flex by 2.7% during the fourth quarter. Mariner LLC now owns 57,243 shares of the technology company's stock valued at $2,198,000 after purchasing an additional 1,497 shares during the period. Guggenheim Capital LLC grew its position in shares of Flex by 14.3% in the fourth quarter. Guggenheim Capital LLC now owns 10,824 shares of the technology company's stock valued at $416,000 after purchasing an additional 1,356 shares in the last quarter. Finally, GeoWealth Management LLC grew its position in shares of Flex by 798.2% in the fourth quarter. GeoWealth Management LLC now owns 6,377 shares of the technology company's stock valued at $245,000 after purchasing an additional 5,667 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Flex

In other Flex news, EVP David Scott Offer sold 35,394 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 140,013 shares in the company, valued at approximately $6,002,357.31. This represents a 20.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Revathi Advaithi sold 181,028 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $42.91, for a total value of $7,767,911.48. Following the transaction, the chief executive officer owned 1,463,695 shares in the company, valued at $62,807,152.45. This trade represents a 11.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 681,706 shares of company stock worth $29,778,944 over the last quarter. Insiders own 0.57% of the company's stock.

Flex Trading Up 0.9%

Shares of NASDAQ FLEX traded up $0.50 during midday trading on Tuesday, reaching $53.48. The company had a trading volume of 4,163,675 shares, compared to its average volume of 3,803,664. Flex Ltd. has a one year low of $25.11 and a one year high of $54.14. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.59. The firm's fifty day moving average price is $50.50 and its 200-day moving average price is $41.93. The stock has a market cap of $20.07 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.80 and a beta of 1.05.

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 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 analyst estimates of $6.27 billion. During the same quarter in the previous year, the company posted $0.51 EPS. Flex'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. On average, equities research analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on FLEX. Stifel Nicolaus boosted their target price on Flex from $45.00 to $52.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Wall Street Zen raised Flex from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Bank of America lifted their price target on Flex from $50.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. lifted their price target on Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. 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 issued a Hold rating to the stock. Based on data from MarketBeat, Flex currently has an average rating of "Moderate Buy" and a consensus target price of $53.71.

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.