Flex Ltd. $FLEX Shares Sold by Raiffeisen Bank International AG

Raiffeisen Bank International AG lessened its holdings in Flex Ltd. (NASDAQ:FLEX) by 36.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 136,740 shares of the technology company’s stock after selling 78,640 shares during the quarter. Raiffeisen Bank International AG’s holdings in Flex were worth $21,818,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Flex in the fourth quarter worth $319,756,000. State Street Corp grew its holdings in shares of Flex by 38.0% during the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after buying an additional 3,377,669 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Flex by 694,916.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company’s stock worth $159,573,000 after acquiring an additional 2,640,682 shares during the last quarter. Polar Capital Holdings Plc grew its stake in Flex by 141.8% during the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after purchasing an additional 2,165,780 shares during the last quarter. Finally, KBC Group NV grew its stake in Flex by 541.5% during the 1st quarter. KBC Group NV now owns 1,965,811 shares of the technology company’s stock valued at $128,682,000 after purchasing an additional 1,659,384 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insiders Place Their Bets

In other news, COO Kwang Tan sold 8,981 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $145.19, for a total transaction of $1,303,951.39. Following the completion of the transaction, the chief operating officer directly owned 248,546 shares of the company’s stock, valued at $36,086,393.74. This represents a 3.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 39,188 shares of Flex stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $145.18, for a total transaction of $5,689,313.84. Following the completion of the sale, the chief executive officer directly owned 584,278 shares in the company, valued at $84,825,480.04. This represents a 6.29% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last three months, insiders sold 426,938 shares of company stock valued at $61,941,083. 0.62% of the stock is owned by insiders.

Key Flex News

Here are the key news stories impacting Flex this week:

• Positive Sentiment: The acquisition adds EPC Power’s software-defined power-conversion technology, including grid-forming systems used in data centers, utility-scale energy storage and microgrids. Flex said the deal strengthens its Cloud and Power Infrastructure business and positions it for demand related to AI workloads and emerging 800-volt data-center architectures. Flex to acquire EPC Power in $4.4 billion deal
• Positive Sentiment: Flex plans to fold EPC Power into an upcoming spin-off, which could give the transaction a clearer path to value creation and make the combined power-infrastructure assets more attractive to investors. Flex Buys EPC Power in $4.4B Deal, Plans to Fold Into Upcoming Spin Off
• Neutral Sentiment: The $4.4 billion purchase is substantial relative to Flex’s size. Investors will likely focus on how the deal is financed, its effect on leverage and earnings, and whether Flex can successfully integrate EPC Power while executing the planned spin-off. Flex to Acquire EPC Power
• Neutral Sentiment: Flex leadership is scheduled to participate in the Goldman Sachs Communacopia + Technology Conference, potentially providing additional details on the acquisition, AI infrastructure demand and the company’s strategic outlook. Flex to Participate in Upcoming Investor Conference
• Neutral Sentiment: A trade-secret lawsuit involving Flex is reportedly moving toward resolution, but the available report does not indicate a settlement, financial charge or other definitive outcome. Flex trade secret suit inches toward resolution

Flex Price Performance

NASDAQ:FLEX opened at $107.89 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.89. The company has a 50 day moving average price of $123.58 and a 200-day moving average price of $108.80. Flex Ltd. has a 1-year low of $53.07 and a 1-year high of $166.86. The firm has a market cap of $39.85 billion, a price-to-earnings ratio of 41.66, a price-to-earnings-growth ratio of 0.53 and a beta of 1.67.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Friday, June 26th. The technology company reported $1.00 earnings per share for the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. The company had revenue of $7.93 billion during the quarter. Equities research analysts forecast that Flex Ltd. will post 4.27 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Flex in a research note on Friday, July 17th. Robert W. Baird set a $142.00 target price on Flex in a research report on Thursday, July 30th. Raymond James Financial set a $170.00 price target on shares of Flex and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. KeyCorp lifted their price objective on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group dropped their price objective on shares of Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Flex currently has an average rating of “Moderate Buy” and a consensus target price of $114.20.

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.