O Shaughnessy Asset Management LLC Has $10.71 Million Stock Position in Flex Ltd. $FLEX

Key Points

• O Shaughnessy Asset Management increased its stake in Flex by 10.7% in the fourth quarter, ending with 177,287 shares valued at about $10.71 million.
• Flex is getting broader institutional support, with major holders like Vanguard significantly boosting positions and institutional investors now owning 94.3% of the company.
• Recent news around Flex has been largely positive, including its planned addition to the S&P 500 and higher analyst price targets such as Barclays’ move to $203, though the stock has also seen some profit-taking and concerns about new debt financing.

O Shaughnessy Asset Management LLC lifted its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 10.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 177,287 shares of the technology company's stock after purchasing an additional 17,193 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Flex were worth $10,712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of FLEX. Vanguard Group Inc. boosted its position in Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company's stock worth $2,341,053,000 after acquiring an additional 25,662,586 shares during the period. Norges Bank acquired a new stake in Flex during the 4th quarter worth about $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Flex during the 4th quarter worth about $2,497,000. Sequoia Financial Advisors LLC boosted its position in Flex by 12.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company's stock worth $10,469,000 after acquiring an additional 19,270 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in Flex by 62.3% during the 4th quarter. Teacher Retirement System of Texas now owns 340,389 shares of the technology company's stock worth $20,566,000 after acquiring an additional 130,641 shares during the period. Institutional investors and hedge funds own 94.30% of the company's stock.

More Flex News

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex announced it will join the S&P 500, a milestone that validates the company’s transformation and could bring incremental index-fund buying. Flex to Join S&P 500 Index
• Positive Sentiment: Barclays lifted its price target on Flex to $203 from $174, citing strength in AI-related and other business segments, which reinforces a bullish fundamental view. Barclays Lifts PT on Flex Ltd. (FLEX), Cites AI and Business Segments
• Neutral Sentiment: Market commentary continues to frame FLEX as an emerging AI infrastructure play, which may support a higher valuation over time but does not immediately change near-term fundamentals. Flex To Enter S&P 500 Positioned As A Major AI Infrastructure Player
• Negative Sentiment: The stock is also seeing some profit-taking after a strong run, and investors appear cautious about Flex’s new $1.45 billion term-loan financing and near-term leverage/capex needs. Flex slides 5.3% as investors digest fresh debt financing and take profits after a strong run

Flex Stock Down 5.2%

FLEX opened at $139.49 on Thursday. Flex Ltd. has a fifty-two week low of $42.83 and a fifty-two week high of $166.86. The business has a 50-day moving average of $112.51 and a 200-day moving average of $80.75. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The company has a market capitalization of $51.11 billion, a PE ratio of 59.87, a price-to-earnings-growth ratio of 0.77 and a beta of 1.64.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The company had revenue of $7.48 billion during the quarter. Equities research analysts forecast that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Insider Activity at Flex

In other news, Director Erin Mcsweeney sold 2,000 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $132.51, for a total transaction of $265,020.00. Following the completion of the sale, the director directly owned 9,512 shares of the company's stock, valued at $1,260,435.12. This trade represents a 17.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael P. Hartung sold 22,216 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $142.38, for a total value of $3,163,114.08. Following the sale, the insider directly owned 232,706 shares of the company's stock, valued at $33,132,680.28. This trade represents a 8.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 345,012 shares of company stock worth $48,508,103. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FLEX shares. Wall Street Zen lowered Flex from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 8th. Stifel Nicolaus raised their price objective on Flex from $75.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. KeyCorp raised their price objective on Flex from $75.00 to $180.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on Flex from $75.00 to $84.00 and gave the stock an "overweight" rating in a research report on Thursday, April 16th. Finally, Barclays raised their price objective on Flex from $174.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $115.70.

Flex Company 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.

Want to see what other hedge funds are holding FLEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flex Ltd. (NASDAQ:FLEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.