Saudi Central Bank Has $4.17 Million Position in Flex Ltd. $FLEX

Saudi Central Bank boosted its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 88.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,737 shares of the technology company's stock after purchasing an additional 12,088 shares during the quarter. Saudi Central Bank's holdings in Flex were worth $4,171,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC bought a new stake in shares of Flex during the 4th quarter worth $260,000. Goldman Sachs Group Inc. raised its holdings in Flex by 19.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company's stock worth $42,314,000 after acquiring an additional 211,046 shares during the period. Empowered Funds LLC acquired a new position in Flex during the 1st quarter worth $397,000. EverSource Wealth Advisors LLC boosted its holdings in Flex by 63.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company's stock valued at $132,000 after acquiring an additional 1,031 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Flex by 92.4% during the second quarter. First Trust Advisors LP now owns 62,078 shares of the technology company's stock valued at $3,099,000 after acquiring an additional 29,821 shares during the period. Institutional investors own 94.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FLEX shares. Robert W. Baird set a $142.00 price objective on Flex in a research note on Thursday, July 30th. The Goldman Sachs Group lowered their target price on Flex from $177.00 to $154.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Raymond James Financial set a $170.00 price target on Flex and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Freedom Capital upgraded Flex from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Flex in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Flex presently has an average rating of "Moderate Buy" and a consensus price target of $114.20.

Flex Price Performance

Shares of FLEX opened at $109.51 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 1.38. The company has a 50-day simple moving average of $122.84 and a 200-day simple moving average of $109.12. Flex Ltd. has a 52 week low of $53.07 and a 52 week high of $166.86. The firm has a market capitalization of $40.45 billion, a P/E ratio of 42.28 and a beta of 1.67.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. The firm had revenue of $7.93 billion for the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%. On average, equities research analysts expect that Flex Ltd. will post 4.27 earnings per share for the current year.

Insider Activity at Flex

In related news, insider Michael P. Hartung sold 2,755 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $120.64, for a total value of $332,363.20. Following the completion of the transaction, the insider directly owned 243,175 shares in the company, valued at approximately $29,336,632. This represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Offer sold 6,657 shares of Flex stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $145.23, for a total transaction of $966,796.11. Following the sale, the executive vice president owned 91,122 shares in the company, valued at $13,233,648.06. This represents a 6.81% 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. Insiders have sold 426,938 shares of company stock worth $61,941,083 in the last three months. Company insiders own 0.62% of the company's stock.

Key Flex News

Here are the key news stories impacting Flex this week:

• Positive Sentiment: AI data-center and grid exposure: EPC Power designs power-conversion systems for data centers, utility-scale energy storage and microgrids. Its grid-forming technology and support for next-generation 800-volt data-center architectures could allow Flex to benefit from rising AI infrastructure and electricity-demand investment. Flex to Acquire EPC Power
• Positive Sentiment: Strategic expansion: Management plans to incorporate EPC Power into Flex’s upcoming spin-off, potentially creating a more focused power-infrastructure business and highlighting the value of the acquired assets. Flex Buys EPC Power
• Neutral Sentiment: Large transaction to assess: The $4.4 billion purchase is a major expansion for Flex. Investors will likely focus on the deal’s funding, integration progress, contribution to earnings and how the business will be structured within the planned spin-off. Flex to Acquire EPC Power
• Neutral Sentiment: Investor engagement: Flex leadership is scheduled to participate in the Goldman Sachs Communacopia + Technology Conference, providing an opportunity for management to discuss the acquisition and its AI infrastructure strategy. Flex Investor Conference
• Neutral Sentiment: Valuation support: Zacks highlighted Flex as a potential long-term value stock based on its style-score framework, which may reinforce positive sentiment but does not represent a new operating or earnings update. Why Flex Is a Top Value Stock
• Neutral Sentiment: Legal update: A trade-secret lawsuit involving Flex is reportedly moving toward resolution, but the available report does not indicate a material financial impact. Flex Trade Secret Suit

About Flex

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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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.

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