Hsbc Holdings PLC Decreases Stock Position in Flex Ltd. $FLEX

Key Points

• HSBC Holdings PLC cut its Flex Ltd. stake by 40.4% in the fourth quarter, selling 36,015 shares and leaving it with 53,121 shares worth about $3.23 million.
• Several other institutional investors moved into or added to Flex, and overall 94.3% of the stock is owned by institutions and hedge funds, highlighting strong professional ownership.
• Analysts remain constructive on Flex, with recent price-target hikes from firms like JPMorgan, Barclays, and KeyCorp; the stock currently carries a Moderate Buy consensus and an average target price of $115.70.

Hsbc Holdings PLC trimmed its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 40.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 53,121 shares of the technology company's stock after selling 36,015 shares during the quarter. Hsbc Holdings PLC's holdings in Flex were worth $3,234,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in shares of Flex during the fourth quarter worth $260,000. Goldman Sachs Group Inc. lifted its stake in shares of Flex by 19.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company's stock worth $42,314,000 after buying an additional 211,046 shares in the last quarter. Empowered Funds LLC acquired a new position in Flex during the first quarter worth about $397,000. EverSource Wealth Advisors LLC grew its stake in Flex by 63.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company's stock valued at $132,000 after acquiring an additional 1,031 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Flex by 92.4% in the 2nd quarter. First Trust Advisors LP now owns 62,078 shares of the technology company's stock valued at $3,099,000 after acquiring an additional 29,821 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FLEX shares. JPMorgan Chase & Co. upped their price target on Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday, April 16th. Barclays lifted their price objective on Flex from $174.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, June 4th. Wall Street Zen lowered Flex from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 8th. KeyCorp upped their target price on Flex from $75.00 to $180.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Finally, Robert W. Baird set a $165.00 price target on Flex in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $115.70.

Insider Transactions at Flex

In other news, EVP David Scott Offer sold 33,000 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the completion of the transaction, the executive vice president directly owned 73,471 shares in the company, valued at $11,307,921.61. This trade represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kwang Hooi Tan sold 26,657 shares of Flex stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total value of $3,851,403.36. Following the completion of the sale, the chief operating officer directly owned 257,527 shares of the company's stock, valued at $37,207,500.96. The trade was a 9.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 769,195 shares of company stock valued at $110,116,823 over the last three months. 0.62% of the stock is currently owned by company insiders.

Flex Price Performance

Shares of FLEX opened at $146.70 on Monday. Flex Ltd. has a 1-year low of $47.83 and a 1-year high of $166.86. The stock has a market cap of $53.75 billion, a PE ratio of 62.96, a P/E/G ratio of 0.77 and a beta of 1.63. The firm has a 50-day simple moving average of $131.19 and a two-hundred day simple moving average of $88.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The firm had revenue of $7.48 billion for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. As a group, analysts forecast that Flex Ltd. will post 4.15 EPS for the current year.

Flex News Roundup

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex CEO Revathi Advaithi said the planned spin-off of the cloud and power infrastructure segment could create “tremendous shareholder value,” which may support long-term upside if the separation unlocks a higher valuation for each business. Spin-off creates opportunity for ‘TREMENDOUS shareholder value': Flex CEO
• Positive Sentiment: JetCool, a Flex company, launched a turnkey liquid-cooled server solution for enterprise AI customers, reinforcing Flex’s exposure to AI infrastructure demand and its cooling technology business. JetCool Launches Turnkey Liquid-Cooled Server Solution to Accelerate Enterprise AI Adoption
• Neutral Sentiment: Several articles highlighted Flex alongside broader technology and electronics manufacturing peers, but these were mostly comparison pieces rather than new company-specific developments. FLEX vs. PLXS: Which Electronics Manufacturing Stock is the Better Buy? Are Computer and Technology Stocks Lagging Flex (FLEX) This Year?
• Neutral Sentiment: Other mentions, including a Morningstar quote page, a local transit “Flex On Demand” story, and an Amazon Prime Day article listing FLEX power tools, do not appear to have a material direct impact on Flex Ltd.’s operating results or stock valuation. Flex Ltd FLEX
• Negative Sentiment: Short-interest data showed no meaningful borrowable shares and no clear signal, but the market may still be sensitive to valuation concerns after a strong run, especially with Flex trading at a high multiple relative to earnings.

Flex Profile

Flex NASDAQ: FLEX, formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.

Want to see what other hedge funds are holding FLEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flex Ltd. (NASDAQ:FLEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.