Carnegie Investment Counsel Sells 6,811 Shares of Flex Ltd. $FLEX

Carnegie Investment Counsel cut its stake in Flex Ltd. (NASDAQ:FLEX) by 15.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 37,981 shares of the technology company’s stock after selling 6,811 shares during the quarter. Carnegie Investment Counsel’s holdings in Flex were worth $4,178,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. KBC Group NV boosted its stake in Flex by 541.5% in the 1st quarter. KBC Group NV now owns 1,965,811 shares of the technology company’s stock valued at $128,682,000 after buying an additional 1,659,384 shares in the last quarter. Sei Investments Co. grew its position in Flex by 52.2% in the first quarter. Sei Investments Co. now owns 2,230,622 shares of the technology company’s stock valued at $146,016,000 after acquiring an additional 764,558 shares during the period. SG Americas Securities LLC raised its stake in Flex by 167.1% during the first quarter. SG Americas Securities LLC now owns 532,373 shares of the technology company’s stock worth $34,849,000 after acquiring an additional 333,071 shares in the last quarter. Hsbc Holdings PLC raised its stake in Flex by 446.0% during the first quarter. Hsbc Holdings PLC now owns 290,062 shares of the technology company’s stock worth $18,905,000 after acquiring an additional 236,941 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Flex by 15.5% during the first quarter. Amundi now owns 1,494,418 shares of the technology company’s stock valued at $97,825,000 after acquiring an additional 200,553 shares during the period. Institutional investors own 94.30% of the company’s stock.

Insider Activity at Flex

In other news, insider Michael P. Hartung sold 2,755 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $120.64, for a total transaction of $332,363.20. Following the sale, the insider owned 243,175 shares in the company, valued at approximately $29,336,632. This represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.62% of the company’s stock.

Trending Headlines about Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: AI infrastructure expansion: Flex’s acquisition of EPC Power strengthens its power-conversion and infrastructure capabilities for AI data centers. The deal could support growth in the company’s AI-related business ahead of the planned 2027 separation of its Communications & Enterprise Compute (CPI) segment. Can EPC Power Acquisition Boost Flex’s AI Infrastructure Growth?
• Positive Sentiment: Analyst valuation support: Analysts reportedly have a consensus price target of $119.67 for FLEX, indicating substantial upside relative to the stock’s recent trading level. However, price targets are expectations rather than guarantees and may not prevent near-term selling. Flex Ltd. Stock Has Consensus Price Target of $119.67 According to Analysts
• Neutral Sentiment: Legal matter: Flex filed a motion to dismiss a trade-secret lawsuit brought against an ex-CFO candidate. A dismissal could reduce potential litigation costs and uncertainty, but the motion is not a final resolution and the case remains an overhang until the court rules. Flex Files Motion to Dismiss Trade Secret Suit Against Ex-CFO Candidate

Flex Stock Down 1.4%

Shares of FLEX opened at $86.25 on Thursday. The company has a market capitalization of $31.86 billion, a P/E ratio of 27.34, a PEG ratio of 0.44 and a beta of 1.67. Flex Ltd. has a one year low of $53.07 and a one year high of $166.86. The business’s 50 day simple moving average is $110.64 and its 200-day simple moving average is $119.52. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.89.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share for the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%. The firm had revenue of $7.93 billion during the quarter. As a group, sell-side analysts predict that Flex Ltd. will post 4.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Robert W. Baird set a $142.00 target price on shares of Flex in a research note on Thursday, July 30th. Weiss Ratings lowered shares of Flex from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. Freedom Capital upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Zacks Research downgraded shares of Flex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, The Goldman Sachs Group reduced their price target on shares of Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.67.

Flex Profile

Flex Ltd. (NASDAQ: FLEX) is a global manufacturing and supply chain solutions provider. The company helps original equipment manufacturers design, engineer, manufacture, distribute and service products across their lifecycles.

Flex serves customers in industries including automotive, communications, consumer electronics, health care, industrial, lifestyle and cloud infrastructure. Its capabilities include product design and engineering, printed circuit board assembly, systems integration, supply chain management, logistics, and aftermarket services.

The company was founded in 1969 as Flextronics and later adopted the name Flex.