Raymond James Financial Inc. Reduces Stock Holdings in Flex Ltd. $FLEX

Key Points

• Raymond James Financial Inc. sold 116,478 shares of Flex Ltd., reducing its stake by 13.8%, and now holds approximately 724,694 shares valued at $23,973,000.
• Several institutional investors have adjusted their positions in Flex, with notable increases from SBI Securities Co. Ltd. and Dynasty Wealth Management LLC.
• Flex Ltd. recently reported earnings of $0.72 per share, exceeding expectations, with revenues of $6.58 billion, reflecting a 4.1% year-over-year increase.

Raymond James Financial Inc. trimmed its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 724,694 shares of the technology company's stock after selling 116,478 shares during the quarter. Raymond James Financial Inc. owned about 0.19% of Flex worth $23,973,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Cresset Asset Management LLC raised its position in shares of Flex by 18.3% in the 1st quarter. Cresset Asset Management LLC now owns 12,466 shares of the technology company's stock valued at $412,000 after purchasing an additional 1,932 shares during the last quarter. American Century Companies Inc. raised its position in shares of Flex by 42.2% in the 1st quarter. American Century Companies Inc. now owns 986,492 shares of the technology company's stock valued at $32,633,000 after purchasing an additional 292,646 shares during the last quarter. Ethic Inc. raised its position in shares of Flex by 3.0% in the 1st quarter. Ethic Inc. now owns 21,748 shares of the technology company's stock valued at $726,000 after purchasing an additional 627 shares during the last quarter. Brandywine Global Investment Management LLC raised its position in shares of Flex by 7.4% in the 1st quarter. Brandywine Global Investment Management LLC now owns 143,211 shares of the technology company's stock valued at $4,737,000 after purchasing an additional 9,862 shares during the last quarter. Finally, Aberdeen Group plc raised its position in shares of Flex by 157.6% in the 1st quarter. Aberdeen Group plc now owns 320,888 shares of the technology company's stock valued at $10,615,000 after purchasing an additional 196,334 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Daniel Wendler sold 1,245 shares of Flex stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total transaction of $56,037.45. Following the sale, the chief accounting officer owned 47,619 shares of the company's stock, valued at approximately $2,143,331.19. The trade was a 2.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Erin Mcsweeney sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $51.47, for a total transaction of $514,700.00. Following the transaction, the director directly owned 17,012 shares of the company's stock, valued at $875,607.64. The trade was a 37.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 681,706 shares of company stock worth $29,778,944. 0.57% of the stock is owned by company insiders.

Flex Price Performance

Shares of FLEX stock traded down $1.14 during trading hours on Friday, reaching $53.62. The company had a trading volume of 3,153,735 shares, compared to its average volume of 3,555,296. 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 stock has a fifty day moving average of $50.97 and a 200-day moving average of $42.16. The company has a market capitalization of $20.13 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.82 and a beta of 1.12. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $54.83.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.09. Flex had a return on equity of 20.25% and a net margin of 3.42%.The business had revenue of $6.58 billion during the quarter, compared to analyst estimates of $6.27 billion. During the same period in the prior year, the business earned $0.51 earnings per share. The business's revenue was up 4.1% compared to the same quarter last year. Flex has set its FY 2026 guidance at 2.860-3.060 EPS. Q2 2026 guidance at 0.700-0.780 EPS. On average, equities analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FLEX. Barclays raised their price target on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. KGI Securities lowered Flex from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. KeyCorp boosted their price objective on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. Bank of America boosted their price objective on Flex from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded Flex from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Flex has an average rating of "Moderate Buy" and a consensus target price of $53.71.

Flex Company Profile

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.