L2 Asset Management LLC Sells 19,378 Shares of Flex Ltd. $FLEX

L2 Asset Management LLC trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 13.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,487 shares of the technology company’s stock after selling 19,378 shares during the quarter. Flex comprises 1.1% of L2 Asset Management LLC’s portfolio, making the stock its 22nd biggest holding. L2 Asset Management LLC’s holdings in Flex were worth $7,274,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FLEX. MTM Investment Management LLC acquired a new position in shares of Flex during the 2nd quarter valued at about $26,000. CENTRAL TRUST Co lifted its holdings in 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 purchasing an additional 355 shares during the last quarter. Rexford Capital Inc. acquired a new stake in Flex in the 2nd quarter worth approximately $57,000. Root Financial Partners LLC bought a new stake in Flex during the third quarter worth approximately $57,000. Finally, CI Investments Inc. grew its holdings in Flex by 60.4% during the third quarter. CI Investments Inc. now owns 1,022 shares of the technology company’s stock valued at $59,000 after purchasing an additional 385 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Trading Up 1.6%

Shares of Flex stock opened at $64.45 on Tuesday. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $72.22. The company’s fifty day simple moving average is $63.77 and its 200-day simple moving average is $61.65. The company has a market cap of $23.70 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 1.55 and a beta of 1.24. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, February 4th. The technology company reported $0.87 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $0.77 EPS. 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, sell-side analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. The Goldman Sachs Group raised their target price on shares of Flex from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Robert W. Baird started coverage on shares of Flex in a report on Thursday, March 12th. They issued an “outperform” rating and a $70.00 target price on the stock. Zacks Research cut shares of Flex from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Barclays raised their price target on Flex from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.10.

Insider Transactions at Flex

In related news, CFO Kevin Krumm sold 21,406 shares of the business’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 transaction, the chief financial officer directly owned 143,803 shares in the company, valued at $8,805,057.69. The trade was a 12.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Kwang Hooi Tan sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $58.87, for a total value of $1,030,225.00. Following the completion of the transaction, the chief operating officer directly owned 233,636 shares of the company’s stock, valued at approximately $13,754,151.32. This trade represents a 6.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.57% of the stock is currently owned by corporate insiders.

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.