Flex Ltd. $FLEX Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,053 shares of the technology company’s stock after selling 4,200 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Flex were worth $5,394,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings 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 purchasing an additional 996,276 shares during the period. Invesco Ltd. lifted its holdings in shares of Flex by 55.0% during the first 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 holdings in shares of Flex by 16.7% during the first 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 holdings in shares of Flex by 3.2% during the first 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 holdings in shares of Flex by 16.9% during the first 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. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Trading Up 2.9%

Shares of FLEX stock opened at $66.10 on Thursday. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $67.00. The stock has a market cap of $24.81 billion, a P/E ratio of 28.99, a P/E/G ratio of 2.09 and a beta of 1.15. The business has a fifty day simple moving average of $57.99 and a 200-day simple moving average of $49.30. 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) last announced its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. Flex had a return on equity of 20.25% and a net margin of 3.42%.The business had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter last year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Flex has set its FY 2026 guidance at 3.090-3.170 EPS. Q3 2026 guidance at 0.740-0.800 EPS. On average, analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Insider Activity

In other Flex news, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $56.66, for a total value of $566,600.00. Following the completion of the sale, the chief accounting officer owned 37,619 shares in the company, valued at $2,131,492.54. The trade was a 21.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Watkins sold 10,000 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. Following the sale, the director owned 111,355 shares of the company’s stock, valued at $5,767,075.45. The trade was a 8.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 105,020 shares of company stock worth $6,070,442 in the last quarter. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flex in a report on Wednesday, October 8th. KGI Securities downgraded Flex from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. KeyCorp raised their target price on Flex from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Stifel Nicolaus raised their target price on Flex from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group set a $66.00 target price on Flex in a report on Monday, September 29th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.71.

Flex 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.