Flex (NASDAQ:FLEX) Reaches New 12-Month High - Here's What Happened

Key Points

• Flex Ltd. shares reached a new 52-week high at $57.21, reflecting significant growth as the stock previously closed at $56.20.
• Analyst ratings show a consensus of "Moderate Buy", with significant upgrades from firms like JPMorgan and Barclays, raising price targets to as high as $60.00.
• The company reported earnings of $0.72 per share for the last quarter, exceeding expectations and showcasing a year-over-year revenue increase of 4.1%.

Flex Ltd. (NASDAQ:FLEX - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $56.92 and last traded at $57.21, with a volume of 62395 shares changing hands. The stock had previously closed at $56.20.

Analysts Set New Price Targets

A number of research firms recently commented on FLEX. Wall Street Zen upgraded shares of Flex from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. KeyCorp lifted their target price on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group reiterated a "buy" rating on shares of Flex in a research note on Friday, July 11th. Barclays lifted their target price on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, Stifel Nicolaus lifted 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. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Flex has a consensus rating of "Moderate Buy" and a consensus target price of $53.71.

Flex Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.36. The firm's 50 day simple moving average is $52.19 and its 200 day simple moving average is $43.14. The firm has a market capitalization of $21.50 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.96 and a beta of 1.13.

Flex (NASDAQ:FLEX - Get Free Report) last posted its earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.09. The firm had revenue of $6.58 billion during the quarter, compared to analyst estimates of $6.27 billion. Flex had a net margin of 3.42% and a return on equity of 20.25%. The business's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm 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. Sell-side analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Kwang Hooi Tan sold 12,500 shares of Flex stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $50.25, for a total transaction of $628,125.00. Following the completion of the transaction, the chief operating officer directly owned 263,636 shares of the company's stock, valued at $13,247,709. The trade was a 4.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erin Mcsweeney sold 10,000 shares of Flex stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $51.47, for a total transaction of $514,700.00. Following the transaction, the director directly owned 17,012 shares of the company's stock, valued at approximately $875,607.64. This trade represents a 37.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,013 shares of company stock worth $5,097,662. 0.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flex

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLEX. Norges Bank acquired a new stake in Flex during the 2nd quarter worth $291,362,000. State Street Corp boosted its position in shares of Flex by 38.0% during the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company's stock valued at $611,997,000 after acquiring an additional 3,377,669 shares during the last quarter. Invesco Ltd. boosted its position in shares of Flex by 55.0% during the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company's stock valued at $276,652,000 after acquiring an additional 2,968,285 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Flex by 3,794.6% during the 1st quarter. Pacer Advisors Inc. now owns 2,900,133 shares of the technology company's stock valued at $95,936,000 after acquiring an additional 2,825,667 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Flex by 52.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company's stock valued at $358,500,000 after acquiring an additional 2,459,511 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

About Flex

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.