Mitsubishi UFJ Asset Management Co. Ltd. Acquires 377,288 Shares of Flex Ltd. $FLEX

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 39,300.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 378,248 shares of the technology company’s stock after buying an additional 377,288 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Flex were worth $24,087,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Flex by 196.1% in the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after purchasing an additional 25,662,586 shares in the last quarter. State Street Corp boosted its position in Flex by 38.0% during the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after acquiring an additional 3,377,669 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Flex by 6.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,631,237 shares of the technology company’s stock valued at $326,443,000 after acquiring an additional 355,061 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in Flex by 118.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company’s stock valued at $162,968,000 after acquiring an additional 1,522,308 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Flex by 80.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,645,745 shares of the technology company’s stock valued at $153,374,000 after acquiring an additional 1,183,464 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on FLEX. Stifel Nicolaus increased their target price on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. raised their price objective on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. The Goldman Sachs Group raised their target price on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays raised their target price on Flex from $72.00 to $174.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Raymond James Financial set a $80.00 price objective on Flex and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.80.

Flex Trading Up 6.9%

FLEX stock opened at $142.17 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. Flex Ltd. has a 12-month low of $38.30 and a 12-month high of $142.59. The stock has a market cap of $52.27 billion, a price-to-earnings ratio of 61.02, a PEG ratio of 3.06 and a beta of 1.46. The business’s 50-day moving average is $74.45 and its 200 day moving average is $67.03.

Flex (NASDAQ:FLEX) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.06. The business had revenue of $7.48 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Flex had a return on equity of 22.12% and a net margin of 3.15%.The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 EPS. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. On average, sell-side analysts anticipate that Flex Ltd. will post 3.31 EPS for the current fiscal year.

Insider Activity at Flex

In other news, COO Kwang Hooi Tan sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $58.87, for a total transaction of $1,030,225.00. Following the transaction, the chief operating officer directly owned 233,636 shares in the company, valued at $13,754,151.32. The trade was a 6.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles K. Stevens III sold 15,000 shares of Flex stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the sale, the director directly owned 45,426 shares in the company, valued at approximately $6,275,147.64. The trade was a 24.82% decrease in their position. The SEC filing for this sale provides additional information. 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.