Lingohr Asset Management GmbH Sells 157,091 Shares of Flex Ltd. $FLEX

Key Points

• Lingohr Asset Management GmbH significantly reduced its holdings in Flex Ltd. by 92.1%, selling 157,091 shares and retaining only 13,454 shares valued at approximately $672,000.
• CEO Revathi Advaithi sold 37,465 shares for about $1.69 million, representing a 2.67% decrease in her ownership, while insiders sold a total of 106,013 shares worth over $5 million in the last 90 days.
• Flex Ltd. reported earnings of $0.72 per share, exceeding estimates, with revenues of $6.58 billion for the quarter, marking a 4.1% year-over-year increase.

Lingohr Asset Management GmbH lessened its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 92.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,454 shares of the technology company's stock after selling 157,091 shares during the quarter. Lingohr Asset Management GmbH's holdings in Flex were worth $672,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLEX. Parallel Advisors LLC raised its holdings in shares of Flex by 198.1% during the 2nd quarter. Parallel Advisors LLC now owns 3,407 shares of the technology company's stock valued at $170,000 after purchasing an additional 2,264 shares in the last quarter. Voya Investment Management LLC raised its holdings in Flex by 16.7% during the first quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company's stock valued at $159,243,000 after buying an additional 690,611 shares in the last quarter. Invst LLC bought a new position in Flex during the first quarter valued at about $615,000. Advisors Capital Management LLC raised its holdings in Flex by 8.4% during the first quarter. Advisors Capital Management LLC now owns 7,610 shares of the technology company's stock valued at $252,000 after buying an additional 589 shares in the last quarter. Finally, Flaharty Asset Management LLC bought a new position in Flex during the first quarter valued at about $66,000. Institutional investors own 94.30% of the company's stock.

Analyst Ratings Changes

FLEX has been the topic of a number of recent analyst reports. Bank of America raised their price objective on Flex from $50.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. KGI Securities lowered shares of Flex from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. The Goldman Sachs Group reiterated a "buy" rating on shares of Flex in a report on Friday, July 11th. Barclays lifted their target price on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $53.71.

Insider Transactions at Flex

In other Flex news, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $56.66, for a total value of $566,600.00. Following the completion of the transaction, the chief accounting officer owned 37,619 shares in the company, valued at approximately $2,131,492.54. The trade was a 21.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Erin Mcsweeney sold 10,000 shares of Flex stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $51.47, for a total value of $514,700.00. Following the completion of the transaction, the director owned 17,012 shares of the company's stock, valued at approximately $875,607.64. The trade was a 37.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,020 shares of company stock worth $4,923,667. 0.57% of the stock is owned by company insiders.

Flex Price Performance

Shares of NASDAQ FLEX traded down $0.08 during midday trading on Friday, reaching $58.06. 1,043,071 shares of the company traded hands, compared to its average volume of 4,013,724. The firm has a market cap of $21.79 billion, a PE ratio of 25.47, a PEG ratio of 1.92 and a beta of 1.13. The stock's 50-day simple moving average is $52.66 and its 200-day simple moving average is $43.68. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $58.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.36.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period last year, the firm posted $0.51 EPS. The firm's quarterly revenue 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. As a group, equities analysts anticipate that Flex Ltd. will post 2.33 earnings per share 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.