Renaissance Group LLC Has $9.54 Million Stock Holdings in Flex Ltd. $FLEX

Renaissance Group LLC decreased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,814 shares of the technology company’s stock after selling 16,503 shares during the quarter. Renaissance Group LLC’s holdings in Flex were worth $9,535,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FLEX. USA Financial Formulas acquired a new stake in shares of Flex in the 4th quarter valued at approximately $28,000. Frazier Financial Advisors LLC bought a new stake in Flex during the fourth quarter worth $28,000. CENTRAL TRUST Co grew its position in shares of Flex by 238.3% in the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock valued at $29,000 after acquiring an additional 355 shares during the period. Gables Capital Management Inc. bought a new position in shares of Flex in the 4th quarter valued at about $42,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Flex during the 3rd quarter worth about $52,000. Institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling

In other Flex news, COO Kwang Hooi Tan sold 26,175 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $142.37, for a total value of $3,726,534.75. Following the transaction, the chief operating officer directly owned 256,043 shares of the company’s stock, valued at $36,452,841.91. This represents a 9.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 114,090 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $142.37, for a total value of $16,242,993.30. Following the transaction, the chief executive officer owned 689,022 shares in the company, valued at $98,096,062.14. The trade was a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 345,012 shares of company stock valued at $48,508,103 in the last ninety days. 0.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FLEX. Barclays raised their target price on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Stifel Nicolaus boosted their price target on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. KeyCorp lifted their target price on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.70.

Trending Headlines about Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex announced it will join the S&P 500, a milestone that validates the company’s transformation and could bring incremental index-fund buying. Flex to Join S&P 500 Index
• Positive Sentiment: Barclays lifted its price target on Flex to $203 from $174, citing strength in AI-related and other business segments, which reinforces a bullish fundamental view. Barclays Lifts PT on Flex Ltd. (FLEX), Cites AI and Business Segments
• Neutral Sentiment: Market commentary continues to frame FLEX as an emerging AI infrastructure play, which may support a higher valuation over time but does not immediately change near-term fundamentals. Flex To Enter S&P 500 Positioned As A Major AI Infrastructure Player
• Negative Sentiment: The stock is also seeing some profit-taking after a strong run, and investors appear cautious about Flex’s new $1.45 billion term-loan financing and near-term leverage/capex needs. Flex slides 5.3% as investors digest fresh debt financing and take profits after a strong run

Flex Stock Performance

Shares of FLEX stock opened at $139.49 on Thursday. Flex Ltd. has a 52 week low of $42.83 and a 52 week high of $166.86. The company has a market capitalization of $51.11 billion, a price-to-earnings ratio of 59.87, a PEG ratio of 0.77 and a beta of 1.64. The company has a 50-day simple moving average of $112.51 and a 200 day simple moving average of $80.75. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The firm had revenue of $7.48 billion for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. On average, sell-side analysts predict that Flex Ltd. will post 4.15 earnings per share for the current year.

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.