Michael Hartung Sells 45,000 Shares of Flex (NASDAQ:FLEX) Stock

Key Points

• Insider Michael Hartung sold 45,000 shares of Flex Ltd. (NASDAQ:FLEX) at an average price of $57.14, totaling about $2.57 million, reducing his holdings by 14.94%.
• Flex's stock is currently trading at $56.46, down 1.3%, with a recent report showing earnings per share of $0.72 for the last quarter, exceeding expectations.
• Several financial institutions have upgraded their ratings for FLEX, with a notable increase in price targets, including JPMorgan raising theirs from $44.00 to $60.00, indicating strong growth potential ahead.

Flex Ltd. (NASDAQ:FLEX - Get Free Report) insider Michael Hartung sold 45,000 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $57.14, for a total transaction of $2,571,300.00. Following the completion of the sale, the insider 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 transaction was disclosed in a legal filing with the SEC, which is available through this link.

Flex Trading Down 1.3%

NASDAQ:FLEX traded down $0.74 during trading hours on Wednesday, hitting $56.46. The company had a trading volume of 3,416,852 shares, compared to its average volume of 3,194,792. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $58.60. The company has a market cap of $21.19 billion, a P/E ratio of 24.76, a P/E/G ratio of 1.95 and a beta of 1.13. The company has a 50-day moving average of $52.53 and a 200 day moving average of $43.53. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FLEX. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Flex in a research note on Friday, July 11th. JPMorgan Chase & Co. raised their price objective on shares of Flex from $44.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Stifel Nicolaus boosted their price target on shares of Flex from $45.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, July 25th. KeyCorp raised their price target on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Finally, KGI Securities lowered Flex from a "strong-buy" rating to a "hold" rating in a research report 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $53.71.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FLEX. Wellington Management Group LLP grew 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 last quarter. Boston Partners increased its stake in Flex by 3.5% in the second quarter. Boston Partners now owns 20,620,717 shares of the technology company's stock valued at $1,029,769,000 after purchasing an additional 687,835 shares during the period. State Street Corp raised its holdings in shares of Flex by 38.0% in the second quarter. State Street Corp now owns 12,259,554 shares of the technology company's stock valued at $611,997,000 after buying an additional 3,377,669 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Flex by 6.1% during the second quarter. Invesco Ltd. now owns 8,871,601 shares of the technology company's stock worth $442,870,000 after buying an additional 508,495 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Flex by 52.1% during the second quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company's stock worth $358,500,000 after buying an additional 2,459,511 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

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.

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