Mitsubishi UFJ Asset Management Co. Ltd. Grows Stake in Flex Ltd. $FLEX

Key Points

• Mitsubishi UFJ Asset Management dramatically increased its stake in Flex during the fourth quarter, boosting holdings by 39,300.8% to 378,248 shares valued at about $24.1 million.
• Flex reported better-than-expected quarterly results, with EPS of $0.93 versus $0.87 expected and revenue of $7.48 billion, up 17.2% year over year.
• Several analysts turned more bullish on the stock, with major firms raising price targets; the consensus rating is now Moderate Buy with an average target price of $112.80.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 39,300.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 378,248 shares of the technology company's stock after purchasing an additional 377,288 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.10% of Flex worth $24,087,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. USA Financial Formulas purchased a new stake in shares of Flex in the fourth quarter worth about $28,000. CENTRAL TRUST Co lifted its position in shares of Flex by 238.3% in the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company's stock worth $29,000 after buying an additional 355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Flex in the third quarter worth about $52,000. Root Financial Partners LLC purchased a new stake in shares of Flex in the third quarter worth about $57,000. Finally, CI Investments Inc. lifted its position in shares of Flex by 60.4% in the third quarter. CI Investments Inc. now owns 1,022 shares of the technology company's stock worth $59,000 after buying an additional 385 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Charles K. Stevens III sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the completion of the sale, the director directly owned 45,426 shares of the company's stock, valued at approximately $6,275,147.64. This trade represents a 24.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kwang Hooi Tan sold 17,500 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $58.87, for a total value of $1,030,225.00. Following the sale, the chief operating officer directly owned 233,636 shares of the company's stock, valued at $13,754,151.32. This represents a 6.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.57% of the company's stock.

Flex Trading Up 6.9%

Shares of NASDAQ FLEX opened at $142.17 on Friday. The business's 50 day moving average is $74.45 and its two-hundred day moving average is $67.03. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.88. Flex Ltd. has a 1-year low of $38.30 and a 1-year high of $142.59. The stock has a market capitalization of $52.27 billion, a P/E ratio of 61.02, a PEG ratio of 3.06 and a beta of 1.46.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.06. Flex had a return on equity of 22.12% and a net margin of 3.15%.The company had revenue of $7.48 billion for the quarter, compared to analysts' expectations of $6.96 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm's revenue for the quarter was up 17.2% on a year-over-year basis. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. As a group, research analysts expect that Flex Ltd. will post 3.31 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on FLEX. JPMorgan Chase & Co. boosted their target price on Flex from $75.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. Stifel Nicolaus boosted their target price on Flex from $75.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Robert W. Baird set a $165.00 target price on Flex in a research report on Thursday. The Goldman Sachs Group boosted their target price on Flex from $84.00 to $177.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Barclays boosted their target price on Flex from $72.00 to $174.00 and gave the stock an "overweight" rating in a research report on Thursday. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Flex presently has a consensus rating of "Moderate Buy" and an average target price of $112.80.

Flex Profile

Flex NASDAQ: FLEX, formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.

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