Alliancebernstein L.P. Lowers Holdings in Flex Ltd. $FLEX

Alliancebernstein L.P. lowered its position in shares of Flex Ltd. (NASDAQ:FLEX) by 17.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,324,246 shares of the technology company’s stock after selling 1,514,113 shares during the period. Alliancebernstein L.P. owned about 1.98% of Flex worth $424,587,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. MTM Investment Management LLC purchased a new position in Flex during the 2nd quarter valued at about $26,000. CENTRAL TRUST Co increased its holdings in Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock valued at $29,000 after buying an additional 355 shares during the period. Rexford Capital Inc. bought a new position in Flex in the second quarter worth approximately $57,000. Root Financial Partners LLC purchased a new stake in Flex during the third quarter worth $57,000. Finally, CI Investments Inc. boosted its position in Flex by 60.4% during the 3rd quarter. CI Investments Inc. now owns 1,022 shares of the technology company’s stock valued at $59,000 after acquiring an additional 385 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Kevin Krumm sold 21,406 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total value of $1,310,689.38. Following the completion of the transaction, the chief financial officer directly owned 143,803 shares in the company, valued at $8,805,057.69. This trade represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Kwang Hooi Tan sold 17,500 shares of Flex stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $58.87, for a total value of $1,030,225.00. Following the sale, the chief operating officer directly owned 233,636 shares of the company’s stock, valued at $13,754,151.32. This trade represents a 6.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.57% of the company’s stock.

Flex Trading Up 0.2%

Flex stock opened at $63.44 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 stock has a market cap of $23.32 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 1.55 and a beta of 1.24. The stock has a 50-day moving average of $63.72 and a two-hundred day moving average of $61.58. Flex Ltd. has a one year low of $25.11 and a one year high of $72.22.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $7.06 billion for the quarter, compared to analyst estimates of $6.84 billion. Flex had a return on equity of 20.99% and a net margin of 3.17%.The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $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. On average, research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analysts Set New Price Targets

FLEX has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Flex in a report on Monday, December 29th. Barclays raised their price objective on Flex from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Robert W. Baird initiated coverage on shares of Flex in a report on Thursday. They issued an “outperform” rating and a $70.00 target price for the company. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, Raymond James Financial set a $80.00 price target on shares of Flex and gave the company an “outperform” rating in a report on Wednesday, February 4th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.10.

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.