OLD National Bancorp IN Takes $309,000 Position in Flex Ltd. $FLEX

OLD National Bancorp IN purchased a new stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,187 shares of the technology company's stock, valued at approximately $309,000.

Several other large investors have also recently modified their holdings of FLEX. Brighton Jones LLC bought a new position in shares of Flex during the fourth quarter valued at $260,000. GAMMA Investing LLC raised its stake in shares of Flex by 10,855.3% during the first quarter. GAMMA Investing LLC now owns 54,119 shares of the technology company's stock valued at $1,636,000 after acquiring an additional 53,625 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Flex during the first quarter valued at $215,000. UMB Bank n.a. raised its stake in shares of Flex by 30.5% during the first quarter. UMB Bank n.a. now owns 2,178 shares of the technology company's stock valued at $72,000 after acquiring an additional 509 shares during the last quarter. Finally, Park Avenue Securities LLC raised its stake in Flex by 1.8% during the first quarter. Park Avenue Securities LLC now owns 24,916 shares of the technology company's stock worth $824,000 after buying an additional 432 shares during the last quarter. Institutional investors own 94.30% of the company's stock.

Insider Buying and Selling at Flex

In other Flex news, Director Erin Mcsweeney sold 10,000 shares of Flex stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $51.47, for a total transaction of $514,700.00. Following the completion of the transaction, the director owned 17,012 shares in the company, valued at approximately $875,607.64. The trade was a 37.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kwang Hooi Tan sold 12,500 shares of Flex stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $50.25, for a total value of $628,125.00. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,020 shares of company stock worth $4,923,667. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Flex from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 26th. KGI Securities downgraded shares of Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. KeyCorp lifted their target price on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. Barclays lifted their target price on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" 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 Saturday, September 27th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $57.29.

Flex Trading Down 0.1%

FLEX opened at $57.25 on Wednesday. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $59.76. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. The company has a market cap of $21.49 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 1.95 and a beta of 1.15. The company has a fifty day moving average price of $54.16 and a two-hundred day moving average price of $45.81.

Flex (NASDAQ:FLEX - Get Free Report) last posted 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 firm had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $6.27 billion. Flex had a net margin of 3.42% and a return on equity of 20.25%. The business's revenue was up 4.1% compared to the same quarter last year. During the same period in the previous 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. Analysts predict that Flex Ltd. will post 2.33 EPS 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.