Invst LLC Makes New $615,000 Investment in Flex Ltd. $FLEX

Key Points

• Invst LLC acquired a new stake in Flex Ltd. during the first quarter, purchasing 18,599 shares valued at approximately $615,000.
• Insider activity included the sale of 10,000 shares by Director Erin McSweeney, which represented a 37.02% decrease in their ownership.
• Flex's recent earnings report showed a profit of $0.72 per share, surpassing analysts' expectations, with revenues reaching $6.58 billion for the quarter.

Invst LLC acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,599 shares of the technology company's stock, valued at approximately $615,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLEX. Invesco Ltd. grew its stake in Flex by 55.0% in the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock worth $276,652,000 after acquiring an additional 2,968,285 shares during the period. Pacer Advisors Inc. lifted its position in Flex by 3,794.6% during the first quarter. Pacer Advisors Inc. now owns 2,900,133 shares of the technology company's stock worth $95,936,000 after buying an additional 2,825,667 shares during the period. Alyeska Investment Group L.P. boosted its stake in Flex by 73.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,777,753 shares of the technology company's stock worth $91,888,000 after buying an additional 1,177,970 shares during the last quarter. Wellington Management Group LLP grew its holdings in Flex by 4.8% in the 1st quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company's stock valued at $719,232,000 after buying an additional 996,276 shares during the period. Finally, Woodline Partners LP acquired a new position in shares of Flex during the 4th quarter valued at about $35,121,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FLEX shares. KeyCorp raised their target price on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Barclays boosted their price objective on shares of Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Flex in a research report on Friday, July 11th. JPMorgan Chase & Co. boosted their price target on Flex from $44.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, KGI Securities downgraded Flex from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Flex presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.71.

Insider Buying and Selling at Flex

In related news, Director William D. Watkins sold 10,000 shares of Flex stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kwang Hooi Tan sold 12,500 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $50.25, for a total value of $628,125.00. Following the sale, the chief operating officer owned 263,636 shares in the company, valued at $13,247,709. The trade was a 4.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,020 shares of company stock valued at $4,923,667. Corporate insiders own 0.57% of the company's stock.

Flex Stock Up 2.2%

NASDAQ:FLEX traded up $1.22 on Thursday, reaching $57.68. The stock had a trading volume of 1,754,190 shares, compared to its average volume of 4,022,352. 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 Ltd. has a 12-month low of $25.11 and a 12-month high of $58.60. The company has a 50-day moving average of $52.53 and a 200 day moving average of $43.53. The stock has a market cap of $21.65 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 1.95 and a beta of 1.13.

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