Flex Ltd. $FLEX Stock Position Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in Flex Ltd. (NASDAQ:FLEX) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 795,228 shares of the technology company’s stock after selling 38,454 shares during the quarter. Principal Financial Group Inc.’s holdings in Flex were worth $48,048,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of FLEX. Brighton Jones LLC bought a new position in shares of Flex in the fourth quarter worth $260,000. Goldman Sachs Group Inc. grew its stake in shares of Flex by 19.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after purchasing an additional 211,046 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Flex in the first quarter worth $397,000. EverSource Wealth Advisors LLC grew its stake in shares of Flex by 63.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock worth $132,000 after purchasing an additional 1,031 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Flex by 92.4% in the second quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock worth $3,099,000 after purchasing an additional 29,821 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In other news, Director Charles K. Stevens III sold 15,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the completion of the sale, the director directly owned 45,426 shares of the company’s stock, valued at $6,275,147.64. This represents a 24.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Kwang Hooi Tan sold 17,500 shares of the company’s stock in a transaction 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 sale, the chief operating officer directly owned 233,636 shares of the company’s stock, valued at approximately $13,754,151.32. This represents a 6.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

FLEX has been the subject of several recent analyst reports. Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Raymond James Financial set a $80.00 target price on Flex and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Robert W. Baird set a $165.00 target price on Flex in a research note on Thursday. The Goldman Sachs Group raised their target price on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Flex presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.80.

Flex Trading Up 6.9%

Shares of FLEX stock opened at $142.17 on Friday. The stock has a 50-day simple moving average of $74.45 and a 200 day simple moving average of $67.03. Flex Ltd. has a fifty-two week low of $38.30 and a fifty-two week high of $142.59. The stock has a market capitalization of $52.27 billion, a P/E ratio of 61.02, a P/E/G ratio of 2.86 and a beta of 1.46. The company has a quick ratio of 0.88, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last announced its earnings results on Tuesday, May 5th. The technology company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.06. Flex had a return on equity of 22.12% and a net margin of 3.15%.The business had revenue of $7.48 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter last year, the business posted $0.73 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. On average, sell-side analysts expect that Flex Ltd. will post 3.31 earnings per share 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.