M&T Bank Corp Acquires 8,998 Shares of Flex Ltd. $FLEX

Key Points

• M&T Bank Corp increased its stake in Flex by 96.3% in the fourth quarter, buying 8,998 additional shares and bringing its total holdings to 18,345 shares worth about $1.11 million.
• Institutional ownership of Flex remains very high at 94.3%, and several large investors also boosted their positions, including Vanguard Group, which increased its stake by 196.1%.
• Flex reported stronger-than-expected quarterly results, with EPS of $0.93 and revenue of $7.48 billion, while analysts remain broadly positive with a consensus rating of Moderate Buy.

M&T Bank Corp grew its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 96.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,345 shares of the technology company's stock after purchasing an additional 8,998 shares during the period. M&T Bank Corp's holdings in Flex were worth $1,108,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Flex by 196.1% in the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company's stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Flex by 17.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,393,463 shares of the technology company's stock valued at $138,749,000 after purchasing an additional 360,553 shares during the last quarter. Dynasty Wealth Management LLC boosted its holdings in shares of Flex by 80.1% during the 3rd quarter. Dynasty Wealth Management LLC now owns 43,602 shares of the technology company's stock valued at $2,528,000 after acquiring an additional 19,388 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Flex during the 3rd quarter valued at $1,460,000. Finally, Winnow Wealth LLC acquired a new stake in shares of Flex during the 3rd quarter valued at $1,058,000. Institutional investors own 94.30% of the company's stock.

Wall Street Analyst Weigh In

FLEX has been the topic of several recent research reports. Wall Street Zen downgraded Flex from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 8th. JPMorgan Chase & Co. raised their price objective on Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Barclays raised their price objective on Flex from $72.00 to $174.00 and gave the company an "overweight" rating in a report on Thursday. KeyCorp raised their price objective on Flex from $75.00 to $180.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Stifel Nicolaus raised their price objective on Flex from $75.00 to $95.00 and gave the company a "buy" rating in a report on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Flex currently has an average rating of "Moderate Buy" and a consensus target price of $112.80.

Flex Stock Up 6.9%

Shares of FLEX opened at $142.17 on Friday. The company has a market capitalization of $52.27 billion, a PE ratio of 61.02, a PEG ratio of 3.06 and a beta of 1.46. Flex Ltd. has a 12 month low of $38.30 and a 12 month high of $142.59. The stock's 50-day moving average price is $74.45 and its two-hundred day moving average price is $67.03. The company has a current ratio of 1.36, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73.

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

Insider Activity

In other Flex news, Director Charles K. Stevens III sold 15,000 shares of Flex stock in a transaction dated 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 transaction, the director directly owned 45,426 shares of the company's stock, valued at approximately $6,275,147.64. The trade was a 24.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kwang Hooi Tan sold 17,500 shares of Flex stock in a transaction dated 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 transaction, the chief operating officer directly owned 233,636 shares in the company, valued at $13,754,151.32. The trade was a 6.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.57% of the stock is currently owned by insiders.

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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