Harvest Fund Management Co. Ltd Buys 5,489 Shares of Flex Ltd. $FLEX

Harvest Fund Management Co. Ltd boosted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 24.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,396 shares of the technology company’s stock after acquiring an additional 5,489 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Flex were worth $1,715,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FLEX. Vanguard Group Inc. increased its stake in Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after acquiring an additional 25,662,586 shares during the last quarter. Norges Bank bought a new position in shares of Flex during the fourth quarter valued at approximately $319,756,000. State Street Corp grew its stake in shares of Flex by 38.0% during the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after buying an additional 3,377,669 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in shares of Flex by 118.1% during the third quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company’s stock valued at $162,968,000 after buying an additional 1,522,308 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Flex by 80.9% during the third quarter. JPMorgan Chase & Co. now owns 2,645,745 shares of the technology company’s stock valued at $153,374,000 after buying an additional 1,183,464 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

Key Stories Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex is highlighted as a potential winner in a strengthening electronics sector, with analysts pointing to infrastructure investment and capacity expansion as tailwinds for the business. Article Title
• Positive Sentiment: Investors are reacting to Flex’s growth strategy, including the planned separation of its Power and Cloud portfolio and an acquisition in electrical power, which could expand its exposure to AI data centers, grid modernization, and electrification. Article Title
• Neutral Sentiment: A Zacks follow-up notes that FLEX has risen since its last earnings report, but questions remain about whether the momentum can continue, making this more of a status update than a clear catalyst. Article Title
• Negative Sentiment: EVP David Scott Offer sold 33,000 shares in a pre-arranged 10b5-1 transaction, trimming his stake by about 31%; while routine, insider selling can still weigh on sentiment. Article Title

Flex Stock Down 4.8%

Shares of NASDAQ FLEX opened at $151.92 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The firm has a market capitalization of $55.66 billion, a price-to-earnings ratio of 65.20, a PEG ratio of 0.84 and a beta of 1.64. The stock has a 50 day moving average price of $107.57 and a 200 day moving average price of $78.73. Flex Ltd. has a 52-week low of $42.60 and a 52-week high of $166.86.

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

Wall Street Analyst Weigh In

FLEX has been the topic of a number of analyst reports. Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Stifel Nicolaus upped their target price on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Robert W. Baird set a $165.00 target price on Flex in a research note on Thursday, May 7th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, The Goldman Sachs Group upped their target price on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.70.

Insider Transactions at Flex

In related news, CEO Revathi Advaithi sold 83,500 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $132.87, for a total value of $11,094,645.00. Following the completion of the sale, the chief executive officer owned 605,522 shares in the company, valued at approximately $80,455,708.14. The trade was a 12.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kwang Hooi Tan sold 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $135.93, for a total value of $2,378,775.00. Following the completion of the sale, the chief operating officer owned 238,543 shares of the company’s stock, valued at $32,425,149.99. The trade was a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 362,512 shares of company stock valued at $49,538,328 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

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.