Flex Ltd. $FLEX Holdings Lifted by Leuthold Group LLC

Leuthold Group LLC grew its stake in Flex Ltd. (NASDAQ:FLEX) by 7.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,275 shares of the technology company’s stock after acquiring an additional 9,184 shares during the quarter. Flex accounts for 1.3% of Leuthold Group LLC’s portfolio, making the stock its 11th biggest holding. Leuthold Group LLC’s holdings in Flex were worth $14,549,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Retirement Systems of Alabama increased its position in shares of Flex by 0.3% during the third quarter. Retirement Systems of Alabama now owns 77,466 shares of the technology company’s stock valued at $8,520,000 after acquiring an additional 226 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Flex by 12.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 549,245 shares of the technology company’s stock valued at $61,944,000 after acquiring an additional 60,459 shares in the last quarter. Brighton Jones LLC lifted its position in Flex by 101.1% in the 3rd quarter. Brighton Jones LLC now owns 14,587 shares of the technology company’s stock valued at $1,604,000 after acquiring an additional 7,333 shares in the last quarter. Ethic Inc. boosted its stake in Flex by 24.5% during the 3rd quarter. Ethic Inc. now owns 45,576 shares of the technology company’s stock valued at $5,013,000 after purchasing an additional 8,972 shares during the last quarter. Finally, Calamos Advisors LLC boosted its stake in Flex by 2.1% during the 3rd quarter. Calamos Advisors LLC now owns 52,180 shares of the technology company’s stock valued at $5,739,000 after purchasing an additional 1,056 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Investors are focusing on Flex’s planned separation of its cloud and power infrastructure business, with shareholders having approved proposals related to the distribution framework for Axiom Solutions International. Flex’s November 10 Innovation Day, featuring leaders from both businesses, could provide more detail on strategy and financial priorities. Flex Jumps as Spin-Off Momentum and Growth Outlook Stay in Focus
• Positive Sentiment: The growth story is supported by strong recent results: fiscal second-quarter sales rose 25% year over year to about $8.5 billion, and adjusted EPS was a record $1.18. Flex also raised its full-year fiscal 2027 outlook for sales, margins and adjusted earnings. Flex Jumps as Spin-Off Momentum and Growth Outlook Stay in Focus
• Negative Sentiment: A potential counterpoint is reported insider selling: company insiders made no open-market purchases and 138 sales over the past six months. Such sales may create investor concern, though they do not by themselves establish a negative outlook. Flex Jumps as Spin-Off Momentum and Growth Outlook Stay in Focus

Flex Trading Up 12.0%

NASDAQ:FLEX opened at $78.17 on Tuesday. The company has a market cap of $28.88 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 0.36 and a beta of 1.80. The company has a current ratio of 1.34, a quick ratio of 0.85 and a debt-to-equity ratio of 0.90. The company has a 50 day simple moving average of $101.70 and a two-hundred day simple moving average of $103.21. Flex Ltd. has a 12 month low of $53.07 and a 12 month high of $166.86.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, October 28th. The technology company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.12. Flex had a return on equity of 24.93% and a net margin of 3.35%. The company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.17 billion. During the same quarter in the prior year, the company earned $0.79 earnings per share. Flex’s revenue was up 24.8% on a year-over-year basis. Research analysts forecast that Flex Ltd. will post 4.52 earnings per share for the current year.

Insider Activity

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Flex from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Weiss Ratings cut Flex from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, September 17th. Bank of America reduced their price objective on Flex from $180.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, October 27th. Freedom Capital raised Flex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, Barclays lowered their target price on shares of Flex from $144.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Flex currently has an average rating of “Buy” and an average price target of $131.78.

Flex Profile

Flex Ltd. is a global manufacturing and supply-chain services company that works with businesses to design, engineer, manufacture and support products. Its services include product development, sourcing, production, logistics and after-market support.

The company serves a range of industries, including automotive, healthcare, industrial, lifestyle and communications, as well as cloud and data-center markets. Its work spans products and systems such as medical devices, vehicle components, industrial equipment and technology infrastructure.

Founded in California in 1969 as Flextronics, the company adopted the name Flex in 2016.