Citigroup Inc. Grows Stock Holdings in Flex Ltd. $FLEX

Citigroup Inc. grew its stake in Flex Ltd. (NASDAQ:FLEX) by 371.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 615,355 shares of the technology company’s stock after purchasing an additional 484,779 shares during the period. Citigroup Inc. owned approximately 0.17% of Flex worth $35,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in FLEX. CENTRAL TRUST Co increased its stake in shares of Flex by 238.3% in the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after acquiring an additional 355 shares during the last quarter. MTM Investment Management LLC acquired a new stake in Flex during the second quarter worth about $26,000. Nisa Investment Advisors LLC raised its stake in Flex by 404.3% during the second quarter. Nisa Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $35,000 after purchasing an additional 566 shares during the period. Root Financial Partners LLC acquired a new position in Flex in the 3rd quarter valued at about $57,000. Finally, Rexford Capital Inc. purchased a new stake in shares of Flex in the 2nd quarter valued at approximately $57,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Up 2.6%

Shares of NASDAQ:FLEX opened at $64.92 on Wednesday. The firm’s 50-day moving average is $63.66 and its two-hundred day moving average is $60.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.40 and a quick ratio of 0.88. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $72.22. The firm has a market capitalization of $23.87 billion, a PE ratio of 29.11, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on FLEX shares. The Goldman Sachs Group upped their price objective on Flex from $67.00 to $74.00 and gave the company a “buy” rating in a report 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 lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Flex in a research report on Monday, December 29th. Finally, Argus set a $85.00 price target on shares of Flex in a research note on Friday, October 31st. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.78.

Insiders Place Their Bets

In other Flex news, CFO Kevin Krumm sold 21,406 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total transaction of $1,310,689.38. Following the sale, the chief financial officer owned 143,803 shares in the company, valued at $8,805,057.69. This represents a 12.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Daniel Wendler sold 10,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $71.97, for a total value of $719,700.00. Following the transaction, the chief accounting officer directly owned 27,619 shares of the company’s stock, valued at approximately $1,987,739.43. This represents a 26.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.57% of the company’s stock.

About Flex

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.