King Luther Capital Management Corp Acquires New Position in Flex Ltd. $FLEX

King Luther Capital Management Corp acquired a new stake in Flex Ltd. (NASDAQ:FLEX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,044 shares of the technology company’s stock, valued at approximately $202,000.

A number of other large investors have also made changes to their positions in FLEX. Wellington Management Group LLP lifted its position in Flex by 4.8% during the first quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company’s stock worth $719,232,000 after buying an additional 996,276 shares in the last quarter. Invesco Ltd. increased its stake in shares of Flex by 55.0% in the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company’s stock worth $276,652,000 after acquiring an additional 2,968,285 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Flex by 16.7% during the 1st quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company’s stock worth $159,243,000 after acquiring an additional 690,611 shares during the period. Earnest Partners LLC grew its holdings in shares of Flex by 3.2% in the first quarter. Earnest Partners LLC now owns 4,121,113 shares of the technology company’s stock valued at $136,326,000 after purchasing an additional 128,464 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Flex by 16.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company’s stock worth $103,714,000 after purchasing an additional 453,455 shares during the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Stock Performance

Shares of FLEX opened at $61.52 on Wednesday. The stock has a 50-day simple moving average of $59.82 and a 200-day simple moving average of $51.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $67.00. The stock has a market capitalization of $22.75 billion, a PE ratio of 27.22, a PEG ratio of 1.69 and a beta of 1.24.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, October 29th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. Flex had a net margin of 3.33% and a return on equity of 20.86%. The company had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Flex has set its FY 2026 guidance at 3.090-3.170 EPS. Q3 2026 guidance at 0.740-0.800 EPS. On average, analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FLEX has been the subject of several analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Flex in a research note on Wednesday, October 8th. Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday. KGI Securities cut shares of Flex from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 25th. Bank of America boosted their price target on shares of Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Argus set a $85.00 target price on shares of Flex in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $71.86.

Insider Activity

In related news, Director William D. Watkins sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. Following the transaction, the director owned 111,355 shares of the company’s stock, valued at $5,767,075.45. This represents a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Kwang Hooi Tan sold 12,500 shares of Flex stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $64.88, for a total value of $811,000.00. Following the sale, the chief operating officer directly owned 251,136 shares of the company’s stock, valued at $16,293,703.68. This trade represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 120,020 shares of company stock valued at $7,004,342. Insiders own 0.57% of the company’s stock.

About Flex

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.