5,894 Shares in Flex Ltd. $FLEX Acquired by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC acquired 5,894 shares of Flex Ltd. for approximately $294,000 during Q2, indicating growing institutional interest in the technology company.
• Flex Ltd. reported earnings of $0.72 per share for the last quarter, surpassing estimates, and highlighted a revenue growth of 4.1% year-over-year.
• Insider transactions showed that Director Erin Mcsweeney sold 10,000 shares at about $51.47, reducing their stake by 37.02%, which may indicate some caution among leadership.

Pallas Capital Advisors LLC purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,894 shares of the technology company's stock, valued at approximately $294,000.

A number of other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in Flex by 4.8% during the 1st quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company's stock worth $719,232,000 after purchasing an additional 996,276 shares during the period. Invesco Ltd. lifted its stake in shares of Flex by 55.0% in the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock worth $276,652,000 after acquiring an additional 2,968,285 shares during the period. Voya Investment Management LLC lifted its stake in shares of Flex by 16.7% in the 1st quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company's stock worth $159,243,000 after acquiring an additional 690,611 shares during the period. Earnest Partners LLC lifted its stake in shares of Flex by 3.2% in the 1st quarter. Earnest Partners LLC now owns 4,121,113 shares of the technology company's stock worth $136,326,000 after acquiring an additional 128,464 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Flex by 16.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company's stock worth $103,714,000 after acquiring an additional 453,455 shares during the period. Institutional investors and hedge funds own 94.30% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on FLEX. The Goldman Sachs Group restated a "buy" rating on shares of Flex in a research note on Friday, July 11th. Wall Street Zen cut shares of Flex from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Stifel Nicolaus raised their price objective on shares of Flex from $45.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, July 25th. KGI Securities cut shares of Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Flex from $44.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $53.71.

Insider Buying and Selling at Flex

In other news, Director William D. Watkins sold 10,000 shares of Flex stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $51.79, for a total transaction of $517,900.00. Following the completion of the sale, the director directly owned 111,355 shares in the company, valued at $5,767,075.45. The trade was a 8.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael P. Hartung sold 45,000 shares of Flex stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $57.14, for a total transaction of $2,571,300.00. Following the sale, the insider owned 256,198 shares of the company's stock, valued at approximately $14,639,153.72. This trade represents a 14.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 90,020 shares of company stock valued at $4,923,667. Corporate insiders own 0.57% of the company's stock.

Flex Price Performance

NASDAQ:FLEX traded up $0.36 during mid-day trading on Monday, hitting $59.01. 3,140,616 shares of the company's stock traded hands, compared to its average volume of 3,463,484. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.36. The firm's 50 day simple moving average is $52.93 and its 200 day simple moving average is $44.14. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $59.20. The company has a market cap of $22.15 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12.

Flex (NASDAQ:FLEX - Get Free Report) last posted its 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. Flex had a net margin of 3.42% and a return on equity of 20.25%. The firm had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same period last year, the firm posted $0.51 EPS. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. Flex has set its FY 2026 guidance at 2.860-3.060 EPS. Q2 2026 guidance at 0.700-0.780 EPS. Sell-side analysts expect that Flex Ltd. will post 2.33 EPS for the current 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.