Flex Ltd. $FLEX Shares Sold by Shannon River Fund Management LLC

Shannon River Fund Management LLC cut its holdings in Flex Ltd. (NASDAQ:FLEX) by 34.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 849,416 shares of the technology company’s stock after selling 452,500 shares during the period. Flex comprises approximately 7.9% of Shannon River Fund Management LLC’s investment portfolio, making the stock its 5th biggest holding. Shannon River Fund Management LLC’s holdings in Flex were worth $49,241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLEX. CENTRAL TRUST Co boosted its position in Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock valued at $29,000 after purchasing an additional 355 shares during the last quarter. MTM Investment Management LLC bought a new stake in shares of Flex during the 2nd quarter worth approximately $26,000. Root Financial Partners LLC acquired a new stake in shares of Flex in the 3rd quarter valued at approximately $57,000. CI Investments Inc. grew its stake in shares of Flex by 60.4% in the third quarter. CI Investments Inc. now owns 1,022 shares of the technology company’s stock valued at $59,000 after buying an additional 385 shares in the last quarter. Finally, Rexford Capital Inc. bought a new position in shares of Flex in the second quarter valued at $57,000. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FLEX shares. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Jefferies Financial Group reissued a “hold” rating and set a $23.00 price target on shares of Flex in a research report on Wednesday, November 12th. Raymond James Financial set a $80.00 price objective on Flex and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Barclays lifted their target price on Flex from $71.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Finally, Zacks Research cut Flex from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Flex has a consensus rating of “Moderate Buy” and a consensus target price of $67.10.

Flex Trading Up 4.1%

Shares of NASDAQ:FLEX opened at $63.39 on Thursday. The stock has a market cap of $23.31 billion, a PE ratio of 28.43, a P/E/G ratio of 1.49 and a beta of 1.24. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 0.73. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $72.22. The business has a 50 day moving average of $63.67 and a 200-day moving average of $61.38.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.08. Flex had a return on equity of 20.99% and a net margin of 3.17%.The business had revenue of $7.06 billion during the quarter, compared to analysts’ expectations of $6.84 billion. During the same period last year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Flex has set its FY 2026 guidance at 3.210-3.270 EPS and its Q4 2026 guidance at 0.830-0.890 EPS. As a group, equities research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Activity

In related news, CFO Kevin Krumm sold 21,406 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total value of $1,310,689.38. Following the completion of the sale, the chief financial officer directly owned 143,803 shares in the company, valued at approximately $8,805,057.69. The trade was a 12.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Kwang Hooi Tan sold 17,500 shares of Flex stock in a transaction on Monday, March 9th. The shares were sold at an average price of $58.87, for a total value of $1,030,225.00. Following the completion of the transaction, the chief operating officer directly owned 233,636 shares of the company’s stock, valued at $13,754,151.32. This represents a 6.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.57% of the company’s stock.

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.