Allworth Financial LP Trims Stock Holdings in Flex Ltd. $FLEX

Allworth Financial LP reduced its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 8.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,432 shares of the technology company’s stock after selling 963 shares during the quarter. Allworth Financial LP’s holdings in Flex were worth $521,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Invesco Ltd. raised its holdings in 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 period. Pacer Advisors Inc. grew its position in shares of Flex by 3,794.6% in the first quarter. Pacer Advisors Inc. now owns 2,900,133 shares of the technology company’s stock valued at $95,936,000 after purchasing an additional 2,825,667 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in shares of Flex by 73.6% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,777,753 shares of the technology company’s stock valued at $91,888,000 after purchasing an additional 1,177,970 shares during the period. Wellington Management Group LLP lifted its holdings in Flex by 4.8% during 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Flex by 44.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,928,808 shares of the technology company’s stock worth $146,206,000 after purchasing an additional 894,790 shares during the period. 94.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 target price on shares of Flex in a research note on Wednesday. The Goldman Sachs Group boosted their price target on shares of Flex from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. KeyCorp lifted their price objective on Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Stifel Nicolaus upped their target price on Flex from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.75.

Flex Stock Up 0.8%

Shares of NASDAQ:FLEX opened at $59.99 on Friday. The stock’s 50-day moving average price is $60.18 and its 200-day moving average price is $51.82. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $67.00. The stock has a market capitalization of $22.18 billion, a P/E ratio of 26.54, a price-to-earnings-growth ratio of 1.59 and a beta of 1.24.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.75 by $0.04. The firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.70 billion. Flex had a net margin of 3.33% and a return on equity of 20.86%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. Flex has set its FY 2026 guidance at 3.090-3.170 EPS. Q3 2026 guidance at 0.740-0.800 EPS. On average, equities analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Daniel Wendler sold 10,000 shares of the business’s stock in a transaction on 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 owned 37,619 shares in the company, valued at approximately $2,131,492.54. The trade was a 21.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $517,900.00. Following the sale, the director directly owned 111,355 shares in the company, valued at $5,767,075.45. The trade was a 8.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 135,020 shares of company stock valued at $7,937,492 over the last 90 days. 0.57% of the stock is currently owned by company insiders.

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.