QRG Capital Management Inc. Takes Position in Flex Ltd. $FLEX

Key Points

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QRG Capital Management Inc. acquired a new stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,242 shares of the technology company's stock, valued at approximately $262,000.

A number of other large investors also recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings 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 valued at $719,232,000 after acquiring an additional 996,276 shares during the period. Invesco Ltd. boosted its holdings in Flex by 55.0% during the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock valued at $276,652,000 after acquiring an additional 2,968,285 shares during the period. Voya Investment Management LLC boosted its holdings in Flex by 16.7% during the 1st quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company's stock valued at $159,243,000 after acquiring an additional 690,611 shares during the period. Earnest Partners LLC boosted its holdings in Flex by 3.2% during the 1st quarter. Earnest Partners LLC now owns 4,121,113 shares of the technology company's stock valued at $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 boosted its holdings in Flex by 16.9% during 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 valued at $103,714,000 after acquiring an additional 453,455 shares during the period. Hedge funds and other institutional investors own 94.30% of the company's stock.

Flex Trading Down 5.1%

Shares of NASDAQ FLEX opened at $56.59 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.36 and a quick ratio of 0.83. The stock has a market capitalization of $21.24 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 1.84 and a beta of 1.15. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $60.05. The business has a fifty day moving average price of $54.67 and a 200 day moving average price of $46.27.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.09. The firm had revenue of $6.58 billion during the quarter, compared to analysts' expectations of $6.27 billion. Flex had a return on equity of 20.25% and a net margin of 3.42%.The firm's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 EPS. Flex has set its FY 2026 guidance at 2.860-3.060 EPS. Q2 2026 guidance at 0.700-0.780 EPS. Equities research analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Flex news, CAO Daniel Wendler sold 10,000 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $56.66, for a total value of $566,600.00. Following the completion of the sale, the chief accounting officer directly owned 37,619 shares in the company, valued at approximately $2,131,492.54. This trade represents a 21.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Erin Mcsweeney sold 10,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $51.47, for a total value of $514,700.00. Following the completion of the sale, the director owned 17,012 shares of the company's stock, valued at approximately $875,607.64. This trade represents a 37.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,020 shares of company stock valued at $4,923,667 in the last 90 days. 0.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wall Street Zen cut Flex from a "strong-buy" rating to a "buy" rating in a report on Saturday. KeyCorp upped their target price on Flex from $60.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday. Bank of America upped their target price on Flex from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday. KGI Securities cut Flex from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group set a $66.00 target price on Flex in a report on Monday, September 29th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.71.

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.

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