Mirova Has $2.79 Million Stock Position in Flex Ltd. $FLEX

Key Points

• Mirova reduced its stake in Flex Ltd. by 7.7% in Q1, now holding 84,460 shares worth approximately $2.79 million.
• Strong analyst sentiment with multiple price target increases, including JPMorgan raising its target from $44.00 to $60.00, indicating favorable market expectations for Flex.
• Flex reported $0.72 earnings per share for the last quarter, surpassing analysts' expectations and showing a revenue increase of 4.1% year-over-year.

Mirova lessened its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 7.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 84,460 shares of the technology company's stock after selling 7,000 shares during the period. Mirova's holdings in Flex were worth $2,794,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of Flex during the fourth quarter worth $260,000. Guggenheim Capital LLC grew its stake in Flex by 14.3% in the fourth quarter. Guggenheim Capital LLC now owns 10,824 shares of the technology company's stock worth $416,000 after purchasing an additional 1,356 shares during the period. MML Investors Services LLC raised its stake in Flex by 11.8% during the fourth quarter. MML Investors Services LLC now owns 64,163 shares of the technology company's stock valued at $2,463,000 after buying an additional 6,773 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Flex by 4.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 177,589 shares of the technology company's stock worth $6,819,000 after acquiring an additional 7,957 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in Flex during the 4th quarter valued at $206,000. Institutional investors and hedge funds own 94.30% of the company's stock.

Insider Buying and Selling at Flex

In other Flex news, insider Michael P. Hartung sold 2,520 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $49.62, for a total value of $125,042.40. Following the completion of the sale, the insider directly owned 301,198 shares of the company's stock, valued at approximately $14,945,444.76. This 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 this hyperlink. Also, Director Erin Mcsweeney sold 10,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $51.47, for a total value of $514,700.00. Following the sale, the director directly owned 17,012 shares in the company, valued at $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. Over the last quarter, insiders sold 681,706 shares of company stock valued at $29,778,944. 0.57% of the stock is currently owned by insiders.

Flex Stock Performance

Shares of NASDAQ:FLEX traded down $1.25 during midday trading on Friday, hitting $53.51. The stock had a trading volume of 1,250,726 shares, compared to its average volume of 4,078,549. The company has a market capitalization of $20.08 billion, a PE ratio of 23.47, a P/E/G ratio of 1.83 and a beta of 1.05. The stock has a 50 day moving average price of $50.82 and a two-hundred day moving average price of $42.09. 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.

Flex (NASDAQ:FLEX - Get Free Report) last released its earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.09. The firm had revenue of $6.58 billion for the quarter, compared to the consensus estimate of $6.27 billion. Flex had a return on equity of 20.25% and a net margin of 3.42%.The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business 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, equities analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. KGI Securities lowered shares of Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Barclays lifted their price target on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. upped their price objective on shares of Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. KeyCorp boosted their price target on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Flex in a research note on Friday, July 11th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.71.

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.