Renaissance Group LLC Has $9.54 Million Stock Position in Flex Ltd. $FLEX

Key Points

• Renaissance Group LLC trimmed its Flex stake by 9.5% in the fourth quarter, but still held 157,814 shares worth about $9.54 million at quarter-end.
• Analysts remain broadly bullish on Flex: several firms raised price targets, and MarketBeat reports a consensus rating of “Moderate Buy” with an average target of $115.70.
• Flex is getting a boost from major business developments, including its planned addition to the S&P 500 and growing investor interest in its role as an AI infrastructure play, though the stock has also seen some profit-taking and concern over new debt financing.

Renaissance Group LLC lessened its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 157,814 shares of the technology company's stock after selling 16,503 shares during the quarter. Renaissance Group LLC's holdings in Flex were worth $9,535,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Flex by 5.3% during the 3rd quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company's stock worth $208,000 after purchasing an additional 181 shares during the last quarter. Parcion Private Wealth LLC boosted its stake in shares of Flex by 1.5% in the 4th quarter. Parcion Private Wealth LLC now owns 14,159 shares of the technology company's stock valued at $855,000 after purchasing an additional 216 shares during the last quarter. US Bancorp DE grew its position in shares of Flex by 1.2% during the 3rd quarter. US Bancorp DE now owns 19,729 shares of the technology company's stock worth $1,144,000 after buying an additional 225 shares during the period. Tower Wealth Partners Inc. raised its stake in shares of Flex by 3.7% during the third quarter. Tower Wealth Partners Inc. now owns 6,980 shares of the technology company's stock worth $405,000 after buying an additional 249 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its stake in shares of Flex by 3.3% during the second quarter. Benjamin Edwards Inc. now owns 8,063 shares of the technology company's stock worth $403,000 after buying an additional 257 shares during the last quarter. Institutional investors own 94.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Flex from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 8th. KeyCorp upped their target price on shares of Flex from $75.00 to $180.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Zacks Research upgraded Flex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. Robert W. Baird set a $165.00 price objective on Flex in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group upped their price objective on Flex from $84.00 to $177.00 and gave the company a "buy" rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $115.70.

Key Stories Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex announced it will join the S&P 500, a milestone that validates the company’s transformation and could bring incremental index-fund buying. Flex to Join S&P 500 Index
• Positive Sentiment: Barclays lifted its price target on Flex to $203 from $174, citing strength in AI-related and other business segments, which reinforces a bullish fundamental view. Barclays Lifts PT on Flex Ltd. (FLEX), Cites AI and Business Segments
• Neutral Sentiment: Market commentary continues to frame FLEX as an emerging AI infrastructure play, which may support a higher valuation over time but does not immediately change near-term fundamentals. Flex To Enter S&P 500 Positioned As A Major AI Infrastructure Player
• Negative Sentiment: The stock is also seeing some profit-taking after a strong run, and investors appear cautious about Flex’s new $1.45 billion term-loan financing and near-term leverage/capex needs. Flex slides 5.3% as investors digest fresh debt financing and take profits after a strong run

Flex Stock Performance

FLEX opened at $139.49 on Thursday. The company has a market capitalization of $51.11 billion, a price-to-earnings ratio of 59.87, a P/E/G ratio of 0.77 and a beta of 1.64. The business's 50-day moving average price is $112.51 and its two-hundred day moving average price is $80.75. Flex Ltd. has a 1 year low of $42.83 and a 1 year high of $166.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87.

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

Insider Activity

In other news, Director Charles K. Stevens III sold 15,000 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $138.14, for a total value of $2,072,100.00. Following the sale, the director owned 45,426 shares of the company's stock, valued at $6,275,147.64. The trade was a 24.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Revathi Advaithi sold 114,090 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $142.37, for a total transaction of $16,242,993.30. Following the completion of the transaction, 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 quarter, insiders have sold 345,012 shares of company stock worth $48,508,103. 0.57% of the stock is currently owned by insiders.

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.

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