Flex Ltd. $FLEX Stock Position Raised by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its position in shares of Flex Ltd. (NASDAQ:FLEX) by 249.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 326,293 shares of the technology company’s stock after purchasing an additional 232,876 shares during the period. BNP Paribas Financial Markets’ holdings in Flex were worth $19,715,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Flex by 196.1% in the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares during the period. Norges Bank acquired a new stake in shares of Flex in the fourth quarter valued at approximately $319,756,000. State Street Corp increased its stake in shares of Flex by 38.0% in the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after purchasing an additional 3,377,669 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Flex by 118.1% in the third quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company’s stock valued at $162,968,000 after purchasing an additional 1,522,308 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Flex by 80.9% in the third quarter. JPMorgan Chase & Co. now owns 2,645,745 shares of the technology company’s stock valued at $153,374,000 after purchasing an additional 1,183,464 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In related news, insider Michael P. Hartung sold 22,216 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $142.38, for a total transaction of $3,163,114.08. Following the completion of the sale, the insider directly owned 232,706 shares of the company’s stock, valued at $33,132,680.28. This represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 33,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the sale, the executive vice president directly owned 73,471 shares of the company’s stock, valued at approximately $11,307,921.61. This represents a 30.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 362,512 shares of company stock valued at $49,538,328. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on FLEX. Wall Street Zen lowered 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 price target on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Stifel Nicolaus upped their price target on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. KeyCorp upped their price target on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Barclays upped their price target on shares of Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Flex has an average rating of “Moderate Buy” and an average price target of $115.70.

Key Headlines Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex is highlighted as a potential winner in a strengthening electronics sector, with analysts pointing to infrastructure investment and capacity expansion as tailwinds for the business. Article Title
• Positive Sentiment: Investors are reacting to Flex’s growth strategy, including the planned separation of its Power and Cloud portfolio and an acquisition in electrical power, which could expand its exposure to AI data centers, grid modernization, and electrification. Article Title
• Neutral Sentiment: A Zacks follow-up notes that FLEX has risen since its last earnings report, but questions remain about whether the momentum can continue, making this more of a status update than a clear catalyst. Article Title
• Negative Sentiment: EVP David Scott Offer sold 33,000 shares in a pre-arranged 10b5-1 transaction, trimming his stake by about 31%; while routine, insider selling can still weigh on sentiment. Article Title

Flex Trading Down 4.8%

Shares of NASDAQ:FLEX opened at $151.92 on Friday. The company has a 50 day moving average of $107.57 and a 200-day moving average of $78.73. The firm has a market cap of $55.66 billion, a P/E ratio of 65.20, a P/E/G ratio of 0.84 and a beta of 1.64. Flex Ltd. has a twelve month low of $42.60 and a twelve month high of $166.86. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The company had revenue of $7.48 billion during the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. As a group, analysts anticipate that Flex Ltd. will post 4.15 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.