Flex Ltd. $FLEX Shares Bought by Sound Shore Management Inc CT

Sound Shore Management Inc CT raised its position in Flex Ltd. (NASDAQ:FLEX) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,770,524 shares of the technology company’s stock after acquiring an additional 39,579 shares during the period. Flex makes up approximately 3.0% of Sound Shore Management Inc CT’s holdings, making the stock its 12th biggest holding. Sound Shore Management Inc CT’s holdings in Flex were worth $88,385,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in Flex in the first quarter valued at approximately $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Flex during the first quarter worth $26,000. Concord Wealth Partners acquired a new stake in shares of Flex during the second quarter worth $28,000. CNB Bank acquired a new stake in shares of Flex during the second quarter worth $30,000. Finally, Harbour Investments Inc. lifted its stake in shares of Flex by 74.7% during the second quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock worth $35,000 after buying an additional 301 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Flex Trading Up 5.6%

FLEX stock opened at $65.26 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $67.00. The stock has a market cap of $24.13 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.64 and a beta of 1.24. The business’s 50-day moving average is $59.11 and its 200 day moving average is $50.43.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the previous year, the firm posted $0.64 EPS. Flex’s 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. On average, sell-side analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on FLEX shares. The Goldman Sachs Group lifted their price objective on shares of Flex from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Bank of America lifted their price objective on shares of Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Barclays lifted their price objective on shares of Flex from $60.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. increased their price target on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Stifel Nicolaus increased their price target on Flex from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.86.

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.