New York Life Investment Management LLC Has $2 Million Position in Flex Ltd. $FLEX

New York Life Investment Management LLC lowered its position in Flex Ltd. (NASDAQ:FLEX) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,974 shares of the technology company’s stock after selling 1,422 shares during the period. New York Life Investment Management LLC’s holdings in Flex were worth $1,996,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new position in Flex during the first quarter valued at approximately $2,882,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Flex by 7,157.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 69,016 shares of the technology company’s stock worth $2,290,000 after acquiring an additional 68,065 shares during the last quarter. DAVENPORT & Co LLC grew its stake in shares of Flex by 20.9% in the first quarter. DAVENPORT & Co LLC now owns 6,930 shares of the technology company’s stock worth $229,000 after acquiring an additional 1,200 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of Flex in the first quarter worth $258,000. Finally, American Century Companies Inc. grew its stake in shares of Flex by 42.2% in the first quarter. American Century Companies Inc. now owns 986,492 shares of the technology company’s stock worth $32,633,000 after acquiring an additional 292,646 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Transactions at Flex

In other news, CAO Daniel Wendler sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $56.66, for a total transaction of $566,600.00. Following the completion of the transaction, the chief accounting officer directly owned 37,619 shares in the company, valued at approximately $2,131,492.54. The trade was a 21.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William D. Watkins sold 10,000 shares of the business’s stock in a transaction dated 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. The trade was a 8.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 105,020 shares of company stock valued at $6,070,442. 0.57% of the stock is currently owned by insiders.

Flex Stock Down 2.3%

Shares of NASDAQ FLEX opened at $62.52 on Friday. The stock has a market cap of $23.47 billion, a PE ratio of 27.66, a PEG ratio of 2.08 and a beta of 1.15. The business has a fifty day moving average of $58.50 and a two-hundred day moving average of $49.62. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $67.00. 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 (NASDAQ:FLEX) last announced its earnings results on Wednesday, October 29th. The technology company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. Flex had a return on equity of 20.86% and a net margin of 3.33%.The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same period last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. Flex has set its FY 2026 guidance at 3.090-3.170 EPS. Q3 2026 guidance at 0.740-0.800 EPS. As a group, equities research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Flex from a “buy” rating to a “strong-buy” rating in a research note on Saturday. KGI Securities downgraded shares of Flex from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 25th. Stifel Nicolaus raised their price objective on shares of Flex from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Bank of America raised their target price on Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Argus set a $85.00 target price on Flex in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.86.

Flex Profile

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.