Kingdon Capital Management L.L.C. Has $8.93 Million Holdings in Flex Ltd. $FLEX

Key Points

• Kingdon Capital Management L.L.C. increased its holdings in Flex Ltd. by 22.7%, purchasing an additional 50,000 shares, bringing its total to 270,000 shares valued at approximately $8.93 million.
• Institutional investors now own 94.30% of Flex, with notable increases from Invesco Ltd. (up 55.0%) and Pacer Advisors Inc. (up 3,794.6%).
• Wall Street analysts have raised their price targets for Flex, with Barclays, JPMorgan, and Bank of America updating their target prices to between $58.00 and $60.00, reflecting a strong "buy" sentiment.

Kingdon Capital Management L.L.C. grew its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 22.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,000 shares of the technology company's stock after acquiring an additional 50,000 shares during the quarter. Flex makes up approximately 0.9% of Kingdon Capital Management L.L.C.'s holdings, making the stock its 28th largest position. Kingdon Capital Management L.L.C. owned 0.07% of Flex worth $8,932,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vident Advisory LLC boosted its position in Flex by 205.5% during the 1st quarter. Vident Advisory LLC now owns 19,674 shares of the technology company's stock valued at $651,000 after purchasing an additional 13,235 shares during the period. Shannon River Fund Management LLC boosted its position in Flex by 0.4% during the 1st quarter. Shannon River Fund Management LLC now owns 1,013,582 shares of the technology company's stock valued at $33,529,000 after purchasing an additional 4,526 shares during the period. State of Wyoming boosted its position in Flex by 10.3% during the 1st quarter. State of Wyoming now owns 30,081 shares of the technology company's stock valued at $995,000 after purchasing an additional 2,797 shares during the period. Brant Point Investment Management LLC boosted its position in Flex by 1.6% during the 1st quarter. Brant Point Investment Management LLC now owns 223,000 shares of the technology company's stock valued at $7,377,000 after purchasing an additional 3,500 shares during the period. Finally, Earnest Partners LLC boosted its position in Flex by 3.2% during the 1st quarter. Earnest Partners LLC now owns 4,121,113 shares of the technology company's stock valued at $136,326,000 after purchasing an additional 128,464 shares during the period. Institutional investors and hedge funds own 94.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Flex from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. KeyCorp increased their price target on Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group reissued a "buy" rating on shares of Flex in a research note on Friday, July 11th. JPMorgan Chase & Co. increased 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, Stifel Nicolaus increased their price target on Flex from $45.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $53.71.

Insider Buying and Selling

In other Flex news, insider Michael P. Hartung sold 2,520 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $49.62, for a total value of $125,042.40. Following the completion of the sale, the insider owned 301,198 shares in the company, valued at approximately $14,945,444.76. This trade represents a 0.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Scott Offer sold 6,887 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total value of $309,983.87. Following the completion of the sale, the executive vice president owned 148,643 shares of the company's stock, valued at $6,690,421.43. This represents a 4.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 460,855 shares of company stock worth $20,318,193. 0.57% of the stock is currently owned by corporate insiders.

Flex Stock Up 0.1%

FLEX stock traded up $0.03 during mid-day trading on Wednesday, hitting $53.68. The stock had a trading volume of 3,550,763 shares, compared to its average volume of 4,081,542. 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 1-year low of $25.11 and a 1-year high of $54.83. The company has a fifty day moving average of $51.23 and a 200 day moving average of $42.32. The stock has a market capitalization of $20.15 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.82 and a beta of 1.13.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The technology company reported $0.72 EPS 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 business had revenue of $6.58 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. The firm'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 analysts expect that Flex Ltd. will post 2.33 EPS 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.