Logan Capital Management Inc. Boosts Stock Position in Flex Ltd. $FLEX

Key Points

• Logan Capital Management Inc. significantly increased its stake in Flex Ltd. by 592.2%, acquiring an additional 396,640 shares, bringing its total to 463,622 shares worth approximately $15.34 million.
• Flex reported earnings of $0.72 per share for the last quarter, exceeding analysts' expectations of $0.63, and noted a 4.1% year-over-year revenue increase.
• Several brokerages have upgraded Flex's stock rating recently, with JPMorgan Chase & Co. raising its target price from $44.00 to $60.00, indicating a strong confidence in the company's performance.

Logan Capital Management Inc. raised its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 592.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 463,622 shares of the technology company's stock after acquiring an additional 396,640 shares during the period. Logan Capital Management Inc. owned approximately 0.12% of Flex worth $15,337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in Flex in the 1st quarter valued at $25,000. Olde Wealth Management LLC bought a new position in shares of Flex in the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. bought a new position in shares of Flex in the 1st quarter valued at $26,000. CX Institutional bought a new position in shares of Flex in the 1st quarter valued at $29,000. Finally, CWM LLC increased its stake in shares of Flex by 73.3% in the 1st quarter. CWM LLC now owns 1,281 shares of the technology company's stock valued at $42,000 after purchasing an additional 542 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Flex

In other Flex news, Director William D. Watkins sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $51.79, for a total transaction of $517,900.00. Following the completion of the transaction, the director directly owned 111,355 shares of the company's stock, valued at approximately $5,767,075.45. This represents a 8.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Erin Mcsweeney sold 10,000 shares of the 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 transaction, the director directly owned 17,012 shares of the company's stock, valued at approximately $875,607.64. This trade represents a 37.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,013 shares of company stock valued at $4,531,062 in the last quarter. Insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FLEX shares. KeyCorp boosted their price objective on Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 2nd. Stifel Nicolaus upped their price target on Flex from $45.00 to $52.00 and gave the company a "buy" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. boosted their price objective on Flex from $44.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Barclays boosted their price objective on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, KGI Securities downgraded 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 given a Hold rating to the company's stock. According to data from MarketBeat.com, Flex currently has an average rating of "Moderate Buy" and an average price target of $53.71.

Flex Stock Performance

Shares of FLEX stock traded down $0.44 during trading on Friday, hitting $57.29. The company's stock had a trading volume of 2,258,175 shares, compared to its average volume of 4,055,228. The company has a market cap of $21.50 billion, a PE ratio of 25.13, a P/E/G ratio of 1.98 and a beta of 1.13. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $52.08 and a 200-day moving average of $43.02. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $58.60.

Flex (NASDAQ:FLEX - Get Free Report) last released its 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. The company had revenue of $6.58 billion during the quarter, compared to analyst estimates of $6.27 billion. Flex had a return on equity of 20.25% and a net margin of 3.42%.Flex's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. 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, research analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Flex 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.