Triangle Securities Wealth Management Takes $296,000 Position in Flex Ltd. $FLEX

Key Points

• Triangle Securities Wealth Management acquired 5,929 shares of Flex Ltd. valued at approximately $296,000 in the second quarter, highlighting increased institutional interest in the technology company's stock.
• Company insiders, including two directors, sold a total of 20,000 shares on August 22nd, indicating potential shifts in investor confidence, as insider transactions may signal market trends.
• Flex Ltd. reported earnings of $0.72 per share for the last quarter, surpassing expectations and indicating a year-over-year revenue increase of 4.1%, with a positive outlook for future EPS guidance.

Triangle Securities Wealth Management bought a new stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,929 shares of the technology company's stock, valued at approximately $296,000.

Other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Flex by 4.8% during the first quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company's stock worth $719,232,000 after acquiring an additional 996,276 shares during the period. Invesco Ltd. boosted its position in Flex by 55.0% during the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock worth $276,652,000 after purchasing an additional 2,968,285 shares during the period. Voya Investment Management LLC increased its stake in Flex by 16.7% during the 1st quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company's stock worth $159,243,000 after buying an additional 690,611 shares during the period. Earnest Partners LLC increased its position in shares of Flex by 3.2% in the 1st quarter. Earnest Partners LLC now owns 4,121,113 shares of the technology company's stock worth $136,326,000 after purchasing an additional 128,464 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Flex by 16.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company's stock worth $103,714,000 after purchasing an additional 453,455 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Flex from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $44.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Barclays boosted their price objective 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 downgraded shares of Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Flex in a report on Friday, July 11th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $53.71.

Insider Transactions at Flex

In other Flex news, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $56.66, for a total transaction of $566,600.00. Following the transaction, the chief accounting officer directly owned 37,619 shares in the company, valued at approximately $2,131,492.54. The trade was a 21.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael P. Hartung sold 45,000 shares of Flex stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $57.14, for a total value of $2,571,300.00. Following the sale, the insider directly owned 256,198 shares of the company's stock, valued at approximately $14,639,153.72. The trade was a 14.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,020 shares of company stock worth $4,923,667 in the last quarter. 0.57% of the stock is owned by corporate insiders.

Flex Price Performance

NASDAQ FLEX traded up $0.23 during trading hours on Monday, reaching $58.88. The company's stock had a trading volume of 1,814,538 shares, compared to its average volume of 4,039,984. The company's 50-day moving average is $52.79 and its two-hundred day moving average is $43.97. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $59.01. The firm has a market capitalization of $22.10 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 2.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.36 and a quick ratio of 0.83.

Flex (NASDAQ:FLEX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 EPS for the quarter, topping the consensus estimate 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 last year, the business posted $0.51 earnings per share. 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. On average, equities analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

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.