Moran Wealth Management LLC Sells 15,830 Shares of Flex Ltd. $FLEX

Key Points

• Moran Wealth Management LLC decreased its holdings in Flex Ltd. by 7.8%, selling 15,830 shares during the second quarter, bringing its total to 186,056 shares valued at approximately $9.29 million.
• Flex Ltd. reported a Q2 EPS of $0.72, exceeding analysts' expectations of $0.63, with a revenue of $6.58 billion, an increase of 4.1% year-over-year.
• Multiple institutional investors have recently increased their stakes in Flex, with Pinnacle Bancorp Inc. boosting its ownership by 39.4%, indicating strong institutional confidence in the company.

Moran Wealth Management LLC decreased its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 7.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 186,056 shares of the technology company's stock after selling 15,830 shares during the period. Moran Wealth Management LLC's holdings in Flex were worth $9,288,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Concord Wealth Partners purchased a new stake in shares of Flex in the 2nd quarter valued at $28,000. Rise Advisors LLC purchased a new stake in shares of Flex in the 1st quarter valued at $25,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Flex in the 1st quarter valued at $26,000. Olde Wealth Management LLC purchased a new stake in shares of Flex in the 1st quarter valued at $26,000. Finally, Pinnacle Bancorp Inc. boosted its stake in shares of Flex by 39.4% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 864 shares of the technology company's stock valued at $43,000 after purchasing an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Flex Stock Performance

Shares of FLEX stock opened at $58.83 on Tuesday. The stock has a fifty day moving average of $54.83 and a 200 day moving average of $46.53. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $60.05. The firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 1.84 and a beta of 1.15. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.59.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.09. Flex had a return on equity of 20.25% and a net margin of 3.42%.The company had revenue of $6.58 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same quarter last year, the firm posted $0.51 earnings per share. The firm's revenue was up 4.1% on a year-over-year basis. 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 expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FLEX. JPMorgan Chase & Co. increased 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. The Goldman Sachs Group set a $66.00 price objective on Flex in a research note on Monday, September 29th. Barclays increased 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. KGI Securities lowered Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Flex in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $59.71.

Insider Buying and Selling

In related news, COO Kwang Hooi Tan sold 12,500 shares of the firm's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $50.25, for a total value of $628,125.00. Following the completion of the sale, the chief operating officer owned 263,636 shares of the company's stock, valued at $13,247,709. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Erin Mcsweeney sold 10,000 shares of the firm'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 completion of the sale, the director directly owned 17,012 shares of the company's stock, valued at $875,607.64. The trade was a 37.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,020 shares of company stock valued at $4,923,667 over the last three months. Insiders own 0.57% of the company's stock.

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.

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