Flex Ltd. (NASDAQ:FLEX) Sees Significant Drop in Short Interest

Flex Ltd. (NASDAQ:FLEX) was the target of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 10,641,162 shares, a drop of 18.7% from the January 15th total of 13,096,611 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average daily volume of 3,022,723 shares, the short-interest ratio is currently 3.5 days. Based on an average daily volume of 3,022,723 shares, the short-interest ratio is currently 3.5 days. Approximately 2.9% of the company’s shares are short sold.

Insider Buying and Selling

In other news, Director William D. Watkins sold 20,000 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $54.52, for a total value of $1,090,400.00. Following the sale, the director owned 98,073 shares of the company’s stock, valued at approximately $5,346,939.96. This represents a 16.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael E. Hurlston sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the completion of the sale, the director owned 58,561 shares of the company’s stock, valued at $3,396,538. This trade represents a 14.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 71,406 shares of company stock worth $4,262,489 in the last 90 days. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FLEX. Allianz Asset Management GmbH lifted its position in shares of Flex by 17.7% in the third quarter. Allianz Asset Management GmbH now owns 2,393,463 shares of the technology company’s stock valued at $138,749,000 after acquiring an additional 360,553 shares in the last quarter. Dynasty Wealth Management LLC lifted its holdings in Flex by 80.1% in the 3rd quarter. Dynasty Wealth Management LLC now owns 43,602 shares of the technology company’s stock valued at $2,528,000 after purchasing an additional 19,388 shares in the last quarter. Sowell Financial Services LLC boosted its stake in Flex by 220.6% during the 3rd quarter. Sowell Financial Services LLC now owns 24,891 shares of the technology company’s stock worth $1,443,000 after purchasing an additional 17,128 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Flex during the third quarter worth $1,460,000. Finally, Ethic Inc. raised its position in shares of Flex by 140.2% in the third quarter. Ethic Inc. now owns 46,553 shares of the technology company’s stock valued at $2,699,000 after buying an additional 27,169 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FLEX has been the subject of several analyst reports. Barclays raised their price objective on shares of Flex from $71.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. The Goldman Sachs Group boosted 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. JPMorgan Chase & Co. increased their target price on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. KeyCorp boosted 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Flex in a research note on Monday, December 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.78.

Flex Stock Up 0.3%

NASDAQ:FLEX opened at $64.42 on Wednesday. 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 has a 1-year low of $25.11 and a 1-year high of $72.22. The company has a 50-day moving average of $64.06 and a 200 day moving average of $59.94. The firm has a market cap of $23.69 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 1.57 and a beta of 1.24.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, February 4th. The technology company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. Flex had a net margin of 3.17% and a return on equity of 20.99%. The business had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $6.84 billion. During the same quarter last year, the firm posted $0.77 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Flex has set its FY 2026 guidance at 3.210-3.270 EPS and its Q4 2026 guidance at 0.830-0.890 EPS. As a group, research analysts anticipate that Flex will post 2.33 EPS for the current fiscal year.

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.