Northwestern Mutual Wealth Management Co. Sells 273,047 Shares of Flex Ltd. $FLEX

Key Points

• Northwestern Mutual Wealth Management Co. has significantly reduced its holdings in Flex Ltd. by selling 273,047 shares, representing an 88.3% decrease in ownership, leaving them with a total of 36,088 shares valued at approximately $1.19 million.
• Multiple analysts have upgraded their price targets for Flex Ltd., with new target prices ranging from $52.00 to $60.00 and a consensus rating of "Moderate Buy" among analysts.
• Flex Ltd. reported earnings of $0.72 per share for the recent quarter, surpassing expectations, while revenue increased to $6.58 billion, exceeding analysts' predictions.

Northwestern Mutual Wealth Management Co. reduced its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 88.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,088 shares of the technology company's stock after selling 273,047 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Flex were worth $1,194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FLEX. Brighton Jones LLC bought a new stake in shares of Flex during the 4th quarter worth $260,000. Price T Rowe Associates Inc. MD lifted its position in shares of Flex by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 177,589 shares of the technology company's stock worth $6,819,000 after buying an additional 7,957 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Flex during the 4th quarter worth $206,000. Beacon Pointe Advisors LLC bought a new stake in shares of Flex during the 4th quarter worth $317,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Flex by 889.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 244,142 shares of the technology company's stock worth $9,375,000 after buying an additional 219,473 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Kwang Hooi Tan sold 12,500 shares of the stock in a transaction dated 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 approximately $13,247,709. This represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Daniel Wendler sold 1,245 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total value of $56,037.45. Following the sale, the chief accounting officer directly owned 47,619 shares of the company's stock, valued at $2,143,331.19. This represents a 2.55% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 681,706 shares of company stock valued at $29,778,944. Corporate insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on FLEX shares. KeyCorp increased their target price on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. Barclays increased their target price on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. The Goldman Sachs Group reiterated a "buy" rating on shares of Flex in a research report on Friday, July 11th. JPMorgan Chase & Co. increased their target price on Flex from $44.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, Stifel Nicolaus increased their target price on Flex from $45.00 to $52.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.71.

Flex Trading Down 2.1%

Shares of FLEX stock opened at $53.62 on Friday. The stock has a market cap of $20.13 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.82 and a beta of 1.05. The stock has a 50-day moving average of $50.97 and a 200-day moving average of $42.16. 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 issued its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.09. The company had revenue of $6.58 billion during the quarter, compared to analysts' expectations of $6.27 billion. Flex had a return on equity of 20.25% and a net margin of 3.42%.The business's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm 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. On average, equities research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current year.

Flex Company 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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