Mirae Asset Global Investments Co. Ltd. Raises Position in Flex Ltd. $FLEX

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its shares in Flex Ltd. by 13.5%, bringing its total holdings to 78,340 shares valued at approximately $3.91 million.
• Multiple hedge funds have also increased their stakes in Flex, with Wellington Management Group and Invesco lifting their holdings by 4.8% and 55.0%, respectively.
• Analysts have generally rated Flex stock positively, with eight analysts giving it a Buy rating and the consensus price target set at $57.29.

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 13.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,340 shares of the technology company's stock after buying an additional 9,324 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Flex were worth $3,911,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position 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 acquiring an additional 996,276 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Flex by 55.0% during the first quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock valued at $276,652,000 after purchasing an additional 2,968,285 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of 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 during the last quarter. Earnest Partners LLC increased its holdings in Flex by 3.2% in the 1st quarter. Earnest Partners LLC now owns 4,121,113 shares of the technology company's stock worth $136,326,000 after buying an additional 128,464 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Flex by 16.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company's stock worth $103,714,000 after buying an additional 453,455 shares during the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Flex

In other Flex news, CAO Daniel Wendler sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $56.66, for a total transaction of $566,600.00. Following the sale, the chief accounting officer owned 37,619 shares in the company, valued at approximately $2,131,492.54. This trade represents a 21.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Watkins sold 10,000 shares of Flex stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $51.79, for a total transaction of $517,900.00. Following the transaction, the director directly owned 111,355 shares in the company, valued at $5,767,075.45. This represents a 8.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 90,020 shares of company stock worth $4,923,667 in the last quarter. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FLEX has been the subject of a number of research analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Flex in a research note on Saturday, September 27th. Bank of America lifted their target price on shares of Flex from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Stifel Nicolaus increased their price target on Flex from $45.00 to $52.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wall Street Zen raised Flex from a "buy" rating to a "strong-buy" rating in a report on Friday, September 26th. Finally, JPMorgan Chase & Co. increased their target price on Flex from $44.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $57.29.

Flex Trading Up 2.0%

NASDAQ:FLEX opened at $57.28 on Tuesday. Flex Ltd. has a one year low of $25.11 and a one year high of $59.76. The business has a fifty day moving average price of $54.05 and a 200-day moving average price of $45.73. The firm has a market capitalization of $21.50 billion, a price-to-earnings ratio of 25.12, a price-to-earnings-growth ratio of 1.91 and a beta of 1.15. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.36 and a quick ratio of 0.83.

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 business 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 revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous 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. Sell-side analysts forecast 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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