SVB Wealth LLC Trims Stock Position in Flex Ltd. $FLEX

Key Points

• SVB Wealth LLC decreased its holdings in Flex Ltd. by 65.4%, resulting in a total of 5,267 shares worth approximately $174,000 at the end of the 1st quarter.
• Insider transactions revealed significant activity, with COO Kwang Hooi Tan selling 12,500 shares for $628,125 and CEO Revathi Advaithi selling 37,465 shares valued at $1.69 million.
• Flex Ltd. reported better-than-expected earnings with $0.72 EPS versus an estimate of $0.63, indicating a 4.1% revenue increase year-over-year.

SVB Wealth LLC decreased its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 65.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,267 shares of the technology company's stock after selling 9,974 shares during the quarter. SVB Wealth LLC's holdings in Flex were worth $174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLEX. Brighton Jones LLC bought a new stake in shares of Flex during the fourth quarter worth about $260,000. Guggenheim Capital LLC raised its stake in shares of Flex by 14.3% in the fourth quarter. Guggenheim Capital LLC now owns 10,824 shares of the technology company's stock worth $416,000 after purchasing an additional 1,356 shares during the last quarter. MML Investors Services LLC boosted its position in shares of Flex by 11.8% during the fourth quarter. MML Investors Services LLC now owns 64,163 shares of the technology company's stock valued at $2,463,000 after buying an additional 6,773 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Flex by 4.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 177,589 shares of the technology company's stock worth $6,819,000 after acquiring an additional 7,957 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new position in Flex during the fourth quarter worth about $206,000. Institutional investors own 94.30% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FLEX. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Flex in a research report on Friday, July 11th. KeyCorp lifted their price objective on shares of Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Barclays raised their target price on Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Stifel Nicolaus boosted their price objective on shares of Flex from $45.00 to $52.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Flex from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Flex presently has an average rating of "Moderate Buy" and an average price target of $53.71.

Insiders Place Their Bets

In other Flex news, EVP David Scott Offer sold 35,394 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $42.87, for a total value of $1,517,340.78. Following the sale, the executive vice president owned 140,013 shares in the company, valued at $6,002,357.31. This trade represents a 20.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael P. Hartung sold 35,393 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $42.87, for a total transaction of $1,517,297.91. Following the transaction, the insider owned 293,195 shares in the company, valued at approximately $12,569,269.65. This represents a 10.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 681,706 shares of company stock valued at $29,778,944 over the last three months. Insiders own 0.57% of the company's stock.

Flex Trading Down 2.3%

Flex stock traded down $1.29 during trading hours on Friday, reaching $53.48. The company had a trading volume of 1,979,127 shares, compared to its average volume of 4,082,830. The company has a 50-day moving average price of $50.82 and a 200 day moving average price of $42.09. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $54.83. 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 firm has a market cap of $20.07 billion, a price-to-earnings ratio of 23.50, a P/E/G ratio of 1.83 and a beta of 1.05.

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

Flex 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.