Voya Investment Management LLC grew its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,813,888 shares of the technology company's stock after purchasing an additional 690,611 shares during the period. Voya Investment Management LLC owned about 1.29% of Flex worth $159,243,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Jump Financial LLC acquired a new position in Flex in the first quarter worth approximately $2,882,000. Sowell Financial Services LLC acquired a new position in shares of Flex during the 1st quarter worth $246,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Flex by 7,157.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,016 shares of the technology company's stock valued at $2,290,000 after purchasing an additional 68,065 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Flex by 7.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 107,713 shares of the technology company's stock valued at $3,563,000 after purchasing an additional 7,637 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in Flex by 20.9% in the first quarter. DAVENPORT & Co LLC now owns 6,930 shares of the technology company's stock worth $229,000 after purchasing an additional 1,200 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Flex
In related news, CEO Revathi Advaithi sold 37,465 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total transaction of $1,686,299.65. Following the completion of the transaction, the chief executive officer owned 1,363,312 shares in the company, valued at $61,362,673.12. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William D. Watkins sold 10,000 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $51.79, for a total value of $517,900.00. Following the completion of the sale, the director owned 111,355 shares in the company, valued at $5,767,075.45. This trade represents a 8.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,013 shares of company stock valued at $5,097,662. Corporate insiders own 0.57% of the company's stock.
Flex Stock Performance
Flex stock traded up $0.47 during trading hours on Monday, hitting $57.76. The stock had a trading volume of 2,214,027 shares, compared to its average volume of 3,348,718. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $58.60. The company has a market cap of $21.68 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company has a 50-day moving average of $52.32 and a two-hundred day moving average of $43.34. 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 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 firm had revenue of $6.58 billion during the quarter, compared to analysts' expectations of $6.27 billion. During the same period last year, the business earned $0.51 earnings per share. Flex's quarterly revenue was up 4.1% compared to the same quarter last year. 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 research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on FLEX shares. KGI Securities cut Flex from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Wall Street Zen downgraded shares of Flex from a "strong-buy" rating to a "buy" rating in a report on Saturday. Barclays lifted their target price on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Stifel Nicolaus upped their price target on shares of Flex from $45.00 to $52.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Flex currently has an average rating of "Moderate Buy" and an average price target of $53.71.
Check Out Our Latest Analysis on Flex
Flex Company 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.
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