NEOS Investment Management LLC Purchases New Stake in Flex Ltd. $FLEX

NEOS Investment Management LLC acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 35,010 shares of the technology company’s stock, valued at approximately $5,674,000.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Flex during the fourth quarter worth about $319,756,000. Rithm Capital Corp. acquired a new position in Flex in the 1st quarter valued at about $1,407,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Flex in the 4th quarter valued at approximately $2,497,000. North Dakota State Investment Board acquired a new stake in shares of Flex during the 4th quarter worth approximately $794,000. Finally, Entropy Technologies LP increased 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 buying an additional 29,336 shares during the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

More Flex News

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

Flex Price Performance

Shares of FLEX opened at $109.51 on Monday. The company’s 50-day simple moving average is $122.84 and its 200-day simple moving average is $109.12. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 1.38. Flex Ltd. has a 1 year low of $53.07 and a 1 year high of $166.86. The stock has a market capitalization of $40.45 billion, a PE ratio of 42.28 and a beta of 1.67.

Flex (NASDAQ:FLEX) last announced 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 firm had revenue of $7.93 billion during the quarter. Analysts forecast that Flex Ltd. will post 4.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 22,627 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total transaction of $3,269,148.96. Following the sale, the insider owned 253,199 shares of the company’s stock, valued at approximately $36,582,191.52. This represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Tan sold 26,657 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total value of $3,851,403.36. Following the completion of the sale, the chief operating officer owned 257,527 shares in the company, valued at approximately $37,207,500.96. The trade was a 9.38% 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. In the last three months, insiders have sold 426,938 shares of company stock worth $61,941,083. 0.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of recent analyst reports. Zacks Research cut Flex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. The Goldman Sachs Group cut their target price on Flex from $177.00 to $154.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Raymond James Financial set a $170.00 price target on Flex and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Freedom Capital upgraded Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Barclays cut their price objective on Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. One 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.20.

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.