Vontobel Holding Ltd. lowered its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 22.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 39,727 shares of the technology company's stock after selling 11,745 shares during the period. Vontobel Holding Ltd.'s holdings in Flex were worth $1,983,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in shares of Flex by 4.8% in the 1st quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company's stock worth $719,232,000 after purchasing an additional 996,276 shares during the period. Invesco Ltd. lifted its stake in shares of Flex by 55.0% in 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 lifted its stake in shares of Flex by 16.7% in the 1st quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company's stock worth $159,243,000 after purchasing an additional 690,611 shares during the period. Earnest Partners LLC lifted its stake 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of 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 period. Institutional investors own 94.30% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on FLEX. Weiss Ratings reiterated a "buy (b-)" rating on shares of Flex in a research note on Wednesday. Bank of America raised their target price on shares of Flex from $58.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Stifel Nicolaus raised their target price on shares of Flex from $45.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, KGI Securities cut shares of Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $59.71.
Check Out Our Latest Analysis on Flex
Flex Price Performance
Shares of NASDAQ:FLEX opened at $56.59 on Friday. The stock has a market cap of $21.24 billion, a PE ratio of 24.82, a PEG ratio of 1.84 and a beta of 1.15. The company's fifty day moving average is $54.67 and its 200 day moving average is $46.27. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $60.05. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.59.
Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Thursday, July 24th. The technology company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.09. The company had revenue of $6.58 billion for the quarter, compared to analysts' expectations of $6.27 billion. Flex had a net margin of 3.42% and a return on equity of 20.25%. The firm's revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. Flex has set its FY 2026 guidance at 2.860-3.060 EPS. Q2 2026 guidance at 0.700-0.780 EPS. Research analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.
Insider Transactions at Flex
In other Flex news, Director William D. Watkins sold 10,000 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $51.79, for a total value of $517,900.00. Following the transaction, the director owned 111,355 shares in the company, valued at approximately $5,767,075.45. The trade was a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $56.66, for a total transaction of $566,600.00. Following the sale, the chief accounting officer directly owned 37,619 shares in the company, valued at $2,131,492.54. The trade was a 21.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,020 shares of company stock valued at $4,923,667. Company insiders own 0.57% of the company's stock.
Flex Profile
(
Free Report)
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.
Further Reading
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