Prudential PLC Has $1.45 Million Position in Flex Ltd. $FLEX

Key Points

• Prudential PLC nearly doubled its stake in Flex during the fourth quarter, adding 11,816 shares to bring its total to 24,001 shares worth about $1.45 million.
• Flex continues to draw heavy institutional interest, with firms like Vanguard, Norges Bank, and State Street also raising or initiating positions; overall, institutional investors own 94.3% of the company.
• Analysts remain broadly positive on FLEX, with a Moderate Buy consensus and an average price target of $115.70, while the stock recently traded above $150 after strong gains and amid ongoing insider selling.

Prudential PLC boosted its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 97.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,001 shares of the technology company's stock after buying an additional 11,816 shares during the quarter. Prudential PLC's holdings in Flex were worth $1,450,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FLEX. Vanguard Group Inc. raised its stake in shares of Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company's stock valued at $2,341,053,000 after acquiring an additional 25,662,586 shares during the last quarter. Norges Bank acquired a new position in shares of Flex in the 4th quarter worth approximately $319,756,000. State Street Corp lifted its position in shares of Flex by 38.0% in the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company's stock worth $611,997,000 after purchasing an additional 3,377,669 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Flex by 118.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company's stock valued at $162,968,000 after acquiring an additional 1,522,308 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Flex by 80.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,645,745 shares of the technology company's stock valued at $153,374,000 after acquiring an additional 1,183,464 shares in the last quarter. Institutional investors own 94.30% of the company's stock.

Key Flex News

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex is highlighted as a potential winner in a strengthening electronics sector, with analysts pointing to infrastructure investment and capacity expansion as tailwinds for the business. Article Title
• Positive Sentiment: Investors are reacting to Flex’s growth strategy, including the planned separation of its Power and Cloud portfolio and an acquisition in electrical power, which could expand its exposure to AI data centers, grid modernization, and electrification. Article Title
• Neutral Sentiment: A Zacks follow-up notes that FLEX has risen since its last earnings report, but questions remain about whether the momentum can continue, making this more of a status update than a clear catalyst. Article Title
• Negative Sentiment: EVP David Scott Offer sold 33,000 shares in a pre-arranged 10b5-1 transaction, trimming his stake by about 31%; while routine, insider selling can still weigh on sentiment. Article Title

Insider Buying and Selling at Flex

In other news, EVP David Scott Offer sold 33,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the completion of the sale, the executive vice president owned 73,471 shares of the company's stock, valued at approximately $11,307,921.61. This represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Revathi Advaithi sold 114,090 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $142.37, for a total value of $16,242,993.30. Following the sale, the chief executive officer directly owned 689,022 shares of the company's stock, valued at approximately $98,096,062.14. This trade represents a 14.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 valued at $48,508,103. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on FLEX shares. Robert W. Baird set a $165.00 price target on shares of Flex in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Flex from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 8th. The Goldman Sachs Group boosted their price target on shares of Flex from $84.00 to $177.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on shares of Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Finally, Zacks Research upgraded shares of Flex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. One equities 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $115.70.

Flex Price Performance

NASDAQ FLEX opened at $151.92 on Monday. The firm's 50-day simple moving average is $107.57 and its two-hundred day simple moving average is $78.87. Flex Ltd. has a 52 week low of $42.60 and a 52 week high of $166.86. The company has a market cap of $55.66 billion, a PE ratio of 65.20, a price-to-earnings-growth ratio of 0.80 and a beta of 1.63. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

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

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.