Pictet Asset Management Holding SA Acquires 91,214 Shares of Flex Ltd. $FLEX

Key Points

• Pictet Asset Management increased its stake in Flex by 156.6%, buying 91,214 shares in Q4 to hold 149,475 shares valued at about $9.03 million.
• Other institutions pushed ownership higher—most notably Vanguard added ~25.66 million shares to hold 38.75 million shares (~$2.34 billion); institutional investors now own 94.30% of the stock.
• Analyst sentiment is positive with a consensus rating of "Moderate Buy" and a $72.30 target, and several firms recently raised targets (e.g., Stifel $95, JPMorgan $84, Raymond James $80) with nine Buys vs. three Holds.

Pictet Asset Management Holding SA increased its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 156.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 149,475 shares of the technology company's stock after buying an additional 91,214 shares during the quarter. Pictet Asset Management Holding SA's holdings in Flex were worth $9,031,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FLEX. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 25,662,586 shares during the last quarter. State Street Corp lifted its position in shares of Flex by 38.0% during the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company's stock worth $611,997,000 after buying an additional 3,377,669 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Flex by 118.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company's stock worth $162,968,000 after buying an additional 1,522,308 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Flex by 80.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,645,745 shares of the technology company's stock worth $153,374,000 after buying an additional 1,183,464 shares during the last quarter. Finally, Junto Capital Management LP bought a new stake in shares of Flex during the 3rd quarter worth $56,270,000. 94.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on FLEX. Stifel Nicolaus upped 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. Barclays upped their price objective on Flex from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. increased their target price on Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a research report on Thursday, April 16th. Wall Street Zen downgraded Flex from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 8th. Finally, Raymond James Financial set a $80.00 target price on Flex and gave the company an "outperform" rating in a research report on Wednesday, February 4th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $72.30.

Flex Price Performance

Flex stock opened at $91.70 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $33.72 billion, a PE ratio of 41.12, a P/E/G ratio of 1.97 and a beta of 1.46. Flex Ltd. has a 12 month low of $34.94 and a 12 month high of $93.53. The stock has a 50-day moving average price of $71.04 and a two-hundred day moving average price of $65.75.

Flex (NASDAQ:FLEX - Get Free Report) last posted its earnings results on Wednesday, February 4th. The technology company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.79 by $0.08. The firm had revenue of $7.06 billion during the quarter, compared to the consensus estimate of $6.84 billion. Flex had a return on equity of 20.99% and a net margin of 3.17%.The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. Flex has set its FY 2026 guidance at 3.210-3.270 EPS and its Q4 2026 guidance at 0.830-0.890 EPS. Analysts expect that Flex Ltd. will post 2.93 EPS for the current year.

Insider Buying and Selling at Flex

In other news, COO Kwang Hooi Tan sold 17,500 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $58.87, for a total value of $1,030,225.00. Following the completion of the sale, the chief operating officer owned 233,636 shares of the company's stock, valued at approximately $13,754,151.32. This represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.57% of the company's stock.

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.

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.