Lyrical Asset Management LP Sells 613,110 Shares of Flex Ltd. $FLEX

Lyrical Asset Management LP lowered its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 7.5% during the fourth quarter, Holdings Channel reports. The firm owned 7,537,378 shares of the technology company’s stock after selling 613,110 shares during the period. Flex makes up approximately 6.3% of Lyrical Asset Management LP’s investment portfolio, making the stock its 2nd largest position. Lyrical Asset Management LP’s holdings in Flex were worth $455,408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its holdings in Flex by 5.3% during the third quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company’s stock worth $208,000 after purchasing an additional 181 shares in the last quarter. Parcion Private Wealth LLC increased its holdings in shares of Flex by 1.5% in the 4th quarter. Parcion Private Wealth LLC now owns 14,159 shares of the technology company’s stock valued at $855,000 after acquiring an additional 216 shares during the period. US Bancorp DE increased its holdings in shares of Flex by 1.2% in the 3rd quarter. US Bancorp DE now owns 19,729 shares of the technology company’s stock valued at $1,144,000 after acquiring an additional 225 shares during the period. Tower Wealth Partners Inc. increased its holdings in shares of Flex by 3.7% in the 3rd quarter. Tower Wealth Partners Inc. now owns 6,980 shares of the technology company’s stock valued at $405,000 after acquiring an additional 249 shares during the period. Finally, Benjamin Edwards Inc. increased its holdings in shares of Flex by 3.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 8,063 shares of the technology company’s stock valued at $403,000 after acquiring an additional 257 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Ratings Changes

FLEX has been the topic of a number of recent research reports. Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Barclays lifted their target price on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday. Stifel Nicolaus lifted their target price on shares of Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Robert W. Baird set a $165.00 target price on shares of Flex in a report on Thursday, May 7th. One 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.

Insider Transactions at Flex

In related news, COO Kwang Hooi Tan sold 26,175 shares of Flex stock in a transaction on Monday, May 11th. The shares were sold at an average price of $142.37, for a total value of $3,726,534.75. Following the transaction, the chief operating officer directly owned 256,043 shares in the company, valued at $36,452,841.91. This trade represents a 9.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 114,090 shares of Flex stock in a transaction on Monday, May 11th. The shares were sold at an average price of $142.37, for a total transaction of $16,242,993.30. Following the completion of the transaction, the chief executive officer owned 689,022 shares in the company, valued at approximately $98,096,062.14. This trade represents a 14.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 345,012 shares of company stock worth $48,508,103 over the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Trending Headlines about 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 Performance

NASDAQ:FLEX opened at $151.92 on Monday. The firm’s fifty day moving average price is $107.57 and its 200 day moving average price is $78.87. Flex Ltd. has a 1-year low of $42.60 and a 1-year high of $166.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The firm has a market cap of $55.66 billion, a price-to-earnings ratio of 65.20, a price-to-earnings-growth ratio of 0.80 and a beta of 1.63.

Flex (NASDAQ:FLEX) last posted 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 firm had revenue of $7.48 billion for the quarter. On average, sell-side analysts expect that Flex Ltd. will post 4.15 EPS for the current 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.