Northern Trust Corp Reduces Stock Position in Flex Ltd. $FLEX

Key Points

• Northern Trust Corp reduced its position in Flex Ltd. by 0.9%, owning 2,477,466 shares after selling 22,283 shares during the first quarter.
• Flex's CEO and COO sold significant amounts of stock, with CEO Revathi Advaithi selling 181,028 shares for approximately $7.77 million, reflecting an 11.01% decrease in their stake.
• Wall Street analysts have largely positive views on Flex, with multiple upgrades; the current consensus rating is a "Moderate Buy" and a target price of $53.71.

Northern Trust Corp lowered its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,477,466 shares of the technology company's stock after selling 22,283 shares during the quarter. Northern Trust Corp owned 0.65% of Flex worth $81,955,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Olde Wealth Management LLC purchased a new position in Flex during the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. purchased a new position in Flex during the 1st quarter valued at $26,000. CX Institutional purchased a new position in Flex during the 1st quarter valued at $29,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Flex during the 4th quarter valued at $35,000. Finally, CWM LLC boosted its holdings in Flex by 73.3% during the 1st quarter. CWM LLC now owns 1,281 shares of the technology company's stock valued at $42,000 after acquiring an additional 542 shares during the period. Hedge funds and other institutional investors own 94.30% of the company's stock.

Insider Buying and Selling

In other news, CEO Revathi Advaithi sold 181,028 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $42.91, for a total value of $7,767,911.48. Following the completion of the transaction, the chief executive officer directly owned 1,463,695 shares of the company's stock, valued at approximately $62,807,152.45. The trade was a 11.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Kwang Hooi Tan sold 37,533 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $42.87, for a total value of $1,609,039.71. Following the transaction, the chief operating officer directly owned 269,151 shares in the company, valued at $11,538,503.37. This represents a 12.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 661,706 shares of company stock valued at $28,746,344. 0.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Flex from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. The Goldman Sachs Group reiterated a "buy" rating on shares of Flex in a report on Friday, July 11th. Stifel Nicolaus upped their target price on Flex from $45.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, July 25th. JPMorgan Chase & Co. upped their target price on Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, KGI Securities cut Flex from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Flex presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.71.

Flex Trading Up 5.1%

FLEX opened at $51.92 on Monday. The firm has a market cap of $19.49 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 1.77 and a beta of 1.05. 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 12 month low of $25.11 and a 12 month high of $53.97. The stock has a fifty day moving average price of $50.15 and a 200-day moving average price of $41.78.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.63 by $0.09. The firm 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%.The business's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. 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 research analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

About Flex

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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