Victory Capital Management Inc. Reduces Holdings in Flex Ltd. $FLEX

Victory Capital Management Inc. lowered its position in Flex Ltd. (NASDAQ:FLEX) by 34.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 788,334 shares of the technology company’s stock after selling 409,280 shares during the quarter. Victory Capital Management Inc.’s holdings in Flex were worth $45,700,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. CENTRAL TRUST Co increased its position in shares of Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after acquiring an additional 355 shares during the last quarter. MTM Investment Management LLC acquired a new position in shares of Flex in the second quarter worth about $26,000. Root Financial Partners LLC purchased a new position in Flex in the third quarter valued at about $57,000. CI Investments Inc. grew its stake in Flex by 60.4% during the 3rd 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 in the last quarter. Finally, Rexford Capital Inc. purchased a new stake in Flex during the 2nd quarter worth approximately $57,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Performance

Shares of NASDAQ FLEX opened at $59.91 on Friday. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $72.22. The stock has a market capitalization of $22.03 billion, a P/E ratio of 26.87, a P/E/G ratio of 1.46 and a beta of 1.24. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average price is $63.65 and its two-hundred day moving average price is $61.14.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, February 4th. The technology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The firm had revenue of $7.06 billion during the quarter, compared to analyst estimates of $6.84 billion. Flex had a net margin of 3.17% and a return on equity of 20.99%. Flex’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $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 forecast that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Activity at Flex

In related news, CFO Kevin Krumm sold 21,406 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $61.23, for a total transaction of $1,310,689.38. Following the completion of the sale, the chief financial officer directly owned 143,803 shares in the company, valued at approximately $8,805,057.69. This trade represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $71.97, for a total value of $719,700.00. Following the completion of the transaction, the chief accounting officer owned 27,619 shares in the company, valued at $1,987,739.43. The trade was a 26.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FLEX. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Weiss Ratings restated a “buy (b)” rating on shares of Flex in a research note on Monday, December 29th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price target on shares of Flex in a report on Wednesday, November 12th. Barclays raised their price objective on shares of Flex from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Finally, The Goldman Sachs Group boosted their target price on shares of Flex from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.78.

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.