Townsquare Capital LLC Sells 5,294 Shares of Flex Ltd. $FLEX

Townsquare Capital LLC decreased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,505 shares of the technology company’s stock after selling 5,294 shares during the period. Townsquare Capital LLC’s holdings in Flex were worth $3,595,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of FLEX. Vanguard Group Inc. boosted its stake in shares of Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares during the period. Norges Bank purchased a new stake in shares of Flex during the fourth quarter valued at $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Flex during the fourth quarter valued at $2,497,000. Sequoia Financial Advisors LLC boosted its stake in shares of Flex by 12.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company’s stock valued at $10,469,000 after purchasing an additional 19,270 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in shares of Flex by 62.3% during the fourth quarter. Teacher Retirement System of Texas now owns 340,389 shares of the technology company’s stock valued at $20,566,000 after purchasing an additional 130,641 shares during the period. Institutional investors own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FLEX. Stifel Nicolaus boosted their target price on shares of Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. KeyCorp boosted their target price on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. JPMorgan Chase & Co. boosted their target price on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Finally, Barclays upped their price objective on shares of Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.70.

Key Headlines Impacting 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

Insider Buying and Selling at Flex

In other Flex news, insider Michael P. Hartung sold 22,216 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $142.38, for a total transaction of $3,163,114.08. Following the completion of the sale, the insider directly owned 232,706 shares of the company’s stock, valued at approximately $33,132,680.28. This represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 83,500 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $132.87, for a total transaction of $11,094,645.00. Following the sale, the chief executive officer directly owned 605,522 shares of the company’s stock, valued at approximately $80,455,708.14. The trade was a 12.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 345,012 shares of company stock valued at $48,508,103. 0.57% of the stock is currently owned by corporate insiders.

Flex Stock Down 5.2%

NASDAQ:FLEX opened at $139.49 on Thursday. Flex Ltd. has a 1-year low of $42.83 and a 1-year high of $166.86. The company has a 50-day moving average of $112.51 and a 200 day moving average of $80.75. The firm has a market cap of $51.11 billion, a PE ratio of 59.87, a price-to-earnings-growth ratio of 0.77 and a beta of 1.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The company had revenue of $7.48 billion during the quarter. As a group, research analysts anticipate that Flex Ltd. will post 4.15 EPS for the current fiscal year.

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.