Flex Ltd. $FLEX is Figure 8 Investment Strategies LLC’s 5th Largest Position

Figure 8 Investment Strategies LLC trimmed its holdings in Flex Ltd. (NASDAQ:FLEX) by 19.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,486 shares of the technology company’s stock after selling 7,403 shares during the period. Flex accounts for about 4.4% of Figure 8 Investment Strategies LLC’s holdings, making the stock its 5th biggest holding. Figure 8 Investment Strategies LLC’s holdings in Flex were worth $5,103,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new position in Flex during the fourth quarter worth approximately $319,756,000. Rithm Capital Corp. purchased a new stake in Flex in the 1st quarter valued at $1,407,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Flex in the 4th quarter worth $2,497,000. North Dakota State Investment Board acquired a new stake in shares of Flex in the 4th quarter worth $794,000. Finally, Entropy Technologies LP raised its holdings in shares of Flex by 50.1% during the 4th quarter. Entropy Technologies LP now owns 87,883 shares of the technology company’s stock worth $5,310,000 after acquiring an additional 29,336 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Up 1.5%

Shares of FLEX opened at $109.51 on Friday. The company’s 50-day moving average price is $122.84 and its 200 day moving average price is $108.80. Flex Ltd. has a 12-month low of $53.07 and a 12-month high of $166.86. The company has a current ratio of 1.38, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. The firm has a market cap of $40.45 billion, a P/E ratio of 42.28, a price-to-earnings-growth ratio of 0.55 and a beta of 1.67.

Flex (NASDAQ:FLEX) last announced its earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share for the quarter. The company had revenue of $7.93 billion during the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. On average, sell-side analysts forecast that Flex Ltd. will post 4.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLEX. Raymond James Financial set a $170.00 price objective on shares of Flex and gave the company an “outperform” rating in a report on Wednesday, July 29th. The Goldman Sachs Group reduced their target price on shares of Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Freedom Capital upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Robert W. Baird set a $142.00 price target on shares of Flex in a report on Thursday, July 30th. Finally, Zacks Research lowered shares of Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. One equities 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. According to MarketBeat, Flex presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.20.

Key Stories Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: AI data-center and grid exposure: EPC Power designs power-conversion systems for data centers, utility-scale energy storage and microgrids. Its grid-forming technology and support for next-generation 800-volt data-center architectures could allow Flex to benefit from rising AI infrastructure and electricity-demand investment. Flex to Acquire EPC Power
• Positive Sentiment: Strategic expansion: Management plans to incorporate EPC Power into Flex’s upcoming spin-off, potentially creating a more focused power-infrastructure business and highlighting the value of the acquired assets. Flex Buys EPC Power
• Neutral Sentiment: Large transaction to assess: The $4.4 billion purchase is a major expansion for Flex. Investors will likely focus on the deal’s funding, integration progress, contribution to earnings and how the business will be structured within the planned spin-off. Flex to Acquire EPC Power
• Neutral Sentiment: Investor engagement: Flex leadership is scheduled to participate in the Goldman Sachs Communacopia + Technology Conference, providing an opportunity for management to discuss the acquisition and its AI infrastructure strategy. Flex Investor Conference
• Neutral Sentiment: Valuation support: Zacks highlighted Flex as a potential long-term value stock based on its style-score framework, which may reinforce positive sentiment but does not represent a new operating or earnings update. Why Flex Is a Top Value Stock
• Neutral Sentiment: Legal update: A trade-secret lawsuit involving Flex is reportedly moving toward resolution, but the available report does not indicate a material financial impact. Flex Trade Secret Suit

Insider Transactions at Flex

In related news, CEO Revathi Advaithi sold 39,188 shares of Flex stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.18, for a total value of $5,689,313.84. Following the completion of the sale, the chief executive officer owned 584,278 shares in the company, valued at approximately $84,825,480.04. This trade represents a 6.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael P. Hartung sold 2,755 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $120.64, for a total value of $332,363.20. Following the transaction, the insider owned 243,175 shares in the company, valued at $29,336,632. This trade represents a 1.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 426,938 shares of company stock worth $61,941,083 in the last three months. Company insiders own 0.62% of the company’s stock.

Flex Company 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.