Envestnet Asset Management Inc. Acquires 19,905 Shares of Flex Ltd. $FLEX

Envestnet Asset Management Inc. grew its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,369,500 shares of the technology company’s stock after acquiring an additional 19,905 shares during the quarter. Envestnet Asset Management Inc. owned about 0.37% of Flex worth $79,390,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FLEX. Brighton Jones LLC bought a new stake in Flex during the fourth quarter valued at approximately $260,000. Goldman Sachs Group Inc. lifted its holdings in shares of Flex by 19.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after acquiring an additional 211,046 shares during the last quarter. Empowered Funds LLC bought a new position in Flex in the first quarter valued at $397,000. QRG Capital Management Inc. purchased a new stake in Flex during the second quarter valued at about $262,000. Finally, Maryland State Retirement & Pension System bought a new stake in Flex during the second quarter worth about $925,000. 94.30% of the stock is currently owned by institutional investors.

Flex Price Performance

Shares of NASDAQ FLEX opened at $63.98 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 1.40. The company has a market capitalization of $23.66 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 1.60 and a beta of 1.24. The company has a 50 day simple moving average of $63.69 and a two-hundred day simple moving average of $59.25. Flex Ltd. has a fifty-two week low of $25.11 and a fifty-two week high of $72.22.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, February 4th. The technology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. Flex had a return on equity of 20.99% and a net margin of 3.17%.The business had revenue of $7.06 billion during the quarter, compared to analysts’ expectations of $6.84 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Flex has set its FY 2026 guidance at 3.210-3.270 EPS and its Q4 2026 guidance at 0.830-0.890 EPS. Analysts expect that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Transactions at Flex

In related news, insider Michael P. Hartung sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $62.21, for a total transaction of $933,150.00. Following the completion of the sale, the insider owned 211,198 shares of the company’s stock, valued at $13,138,627.58. This trade represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Krumm sold 21,406 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $61.23, for a total value of $1,310,689.38. Following the sale, the chief financial officer owned 143,803 shares in the company, valued at approximately $8,805,057.69. This represents a 12.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 86,406 shares of company stock valued at $5,195,639. 0.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FLEX shares. The Goldman Sachs Group boosted their target price on Flex from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Zacks Research cut Flex from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen upgraded Flex from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Flex in a report on Monday, December 29th. Finally, KeyCorp lifted their target price on shares of Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Flex has a consensus rating of “Moderate Buy” and an average price target of $66.78.

Flex Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.