Sumitomo Mitsui DS Asset Management Company Ltd Purchases New Shares in Flex Ltd. $FLEX

Key Points

• Sumitomo Mitsui DS Asset Management disclosed a new fourth-quarter stake in Flex Ltd., buying 41,324 shares worth about $2.5 million.
• Flex continues to attract institutional interest, with several other funds adding positions and institutional ownership at 94.3% of shares outstanding.
• Flex beat quarterly expectations, reporting EPS of $0.93 on $7.48 billion in revenue, while analysts currently rate the stock a Moderate Buy with an average target price of $112.80.

Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Flex Ltd. (NASDAQ:FLEX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 41,324 shares of the technology company's stock, valued at approximately $2,497,000.

Other large investors have also added to or reduced their stakes in the company. USA Financial Formulas purchased a new position in Flex during the fourth quarter valued at $28,000. CENTRAL TRUST Co lifted its position in Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company's stock valued at $29,000 after buying an additional 355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Flex during the third quarter valued at $52,000. Root Financial Partners LLC purchased a new position in Flex during the third quarter valued at $57,000. Finally, CI Investments Inc. lifted its position in Flex by 60.4% during the third quarter. CI Investments Inc. now owns 1,022 shares of the technology company's stock valued at $59,000 after buying an additional 385 shares during the period. Institutional investors own 94.30% of the company's stock.

Insider Activity

In other Flex news, COO Kwang Hooi Tan sold 17,500 shares of the business's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $58.87, for a total value of $1,030,225.00. Following the completion of the transaction, the chief operating officer owned 233,636 shares of the company's stock, valued at approximately $13,754,151.32. The trade was a 6.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles K. Stevens III sold 15,000 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $138.14, for a total value of $2,072,100.00. Following the completion of the transaction, the director directly owned 45,426 shares of the company's stock, valued at approximately $6,275,147.64. This trade represents a 24.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.57% of the stock is owned by insiders.

Flex Price Performance

FLEX opened at $142.17 on Friday. The stock has a 50-day moving average price of $74.45 and a 200-day moving average price of $67.03. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.88. The firm has a market cap of $52.27 billion, a PE ratio of 61.02, a P/E/G ratio of 3.06 and a beta of 1.46. Flex Ltd. has a 1 year low of $38.30 and a 1 year high of $142.59.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.06. The firm had revenue of $7.48 billion during the quarter, compared to analyst estimates of $6.96 billion. Flex had a return on equity of 22.12% and a net margin of 3.15%.Flex's quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. Sell-side analysts predict that Flex Ltd. will post 3.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FLEX has been the subject of several recent research reports. Raymond James Financial set a $80.00 price objective on Flex and gave the company an "outperform" rating in a research report on Wednesday, February 4th. KeyCorp raised their price objective on Flex from $75.00 to $180.00 and gave the company an "overweight" rating in a research report on Thursday. Stifel Nicolaus raised their price objective on Flex from $75.00 to $95.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Barclays raised their price objective on Flex from $72.00 to $174.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Wall Street Zen lowered Flex from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 8th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Flex has a consensus rating of "Moderate Buy" and an average target price of $112.80.

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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