MetLife Investment Management LLC Sells 5,936 Shares of Flex Ltd. $FLEX

Key Points

• MetLife Investment Management LLC has reduced its stake in Flex Ltd. by 2.8%, selling 5,936 shares, and now owns approximately 0.05% of the company, valued around $6.81 million.
• Insider trading activity has seen significant sales, with David Scott Offer and Michael P. Hartung each selling over 35,000 shares, reflecting a drop in their ownership stakes.
• Flex Ltd. reported earnings of $0.72 per share for its latest quarter, surpassing estimates, with an increase in revenue to $6.58 billion, up 4.1% year-over-year.

MetLife Investment Management LLC lowered its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 205,850 shares of the technology company's stock after selling 5,936 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of Flex worth $6,810,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Dynasty Wealth Management LLC boosted its holdings in Flex by 0.7% in the 1st quarter. Dynasty Wealth Management LLC now owns 37,233 shares of the technology company's stock valued at $1,232,000 after purchasing an additional 276 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of Flex by 30.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,299 shares of the technology company's stock worth $43,000 after acquiring an additional 306 shares during the period. Stephens Inc. AR lifted its holdings in shares of Flex by 2.7% during the 1st quarter. Stephens Inc. AR now owns 12,634 shares of the technology company's stock worth $418,000 after acquiring an additional 332 shares during the period. Resonant Capital Advisors LLC lifted its holdings in shares of Flex by 4.8% during the 1st quarter. Resonant Capital Advisors LLC now owns 8,622 shares of the technology company's stock worth $285,000 after acquiring an additional 396 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in shares of Flex by 1.8% during the 1st quarter. Park Avenue Securities LLC now owns 24,916 shares of the technology company's stock worth $824,000 after acquiring an additional 432 shares during the period. Institutional investors own 94.30% of the company's stock.

Insider Buying and Selling at Flex

In other news, EVP David Scott Offer sold 35,394 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $42.87, for a total transaction of $1,517,340.78. Following the completion of the transaction, the executive vice president owned 140,013 shares of the company's stock, valued at approximately $6,002,357.31. This trade represents a 20.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael P. Hartung sold 35,393 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $42.87, for a total transaction of $1,517,297.91. Following the transaction, the insider directly owned 293,195 shares of the company's stock, valued at $12,569,269.65. The trade was a 10.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 681,706 shares of company stock worth $29,778,944 over the last ninety days. Insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

FLEX has been the subject of a number of recent analyst reports. KeyCorp upped their price target on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Barclays upped their price target on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Bank of America upped their price target on shares of Flex from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. upped their price target on shares of Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, KGI Securities downgraded shares of Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Flex currently has an average rating of "Moderate Buy" and a consensus target price of $53.71.

Flex Price Performance

FLEX stock opened at $53.73 on Thursday. The company has a fifty day moving average price of $50.65 and a 200-day moving average price of $42.01. The company has a market capitalization of $20.17 billion, a P/E ratio of 23.57, a PEG ratio of 1.82 and a beta of 1.05. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $54.18. 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 released 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. The firm had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $6.27 billion. Flex had a net margin of 3.42% and a return on equity of 20.25%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $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, equities analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Flex Company 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.

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