Envestnet Asset Management Inc. Decreases Stock Holdings in Flex Ltd. $FLEX

Envestnet Asset Management Inc. trimmed its position in shares of Flex Ltd. (NASDAQ:FLEX) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,349,595 shares of the technology company’s stock after selling 16,041 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Flex were worth $67,372,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Concord Wealth Partners purchased a new stake in shares of Flex during the second quarter valued at about $28,000. CNB Bank purchased a new stake in shares of Flex during the second quarter valued at about $30,000. Harbour Investments Inc. boosted its position in shares of Flex by 74.7% in the 2nd quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock worth $35,000 after purchasing an additional 301 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Flex by 404.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 706 shares of the technology company’s stock worth $35,000 after purchasing an additional 566 shares in the last quarter. Finally, Rise Advisors LLC acquired a new stake in shares of Flex in the 1st quarter worth $25,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Stock Performance

FLEX opened at $63.99 on Friday. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $67.00. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $24.02 billion, a PE ratio of 28.31, a P/E/G ratio of 2.15 and a beta of 1.15. The firm has a 50 day moving average of $58.29 and a two-hundred day moving average of $49.40.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The business had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.70 billion. Flex had a return on equity of 20.86% and a net margin of 3.33%.The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. Flex has set its FY 2026 guidance at 3.090-3.170 EPS. Q3 2026 guidance at 0.740-0.800 EPS. On average, analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FLEX. Weiss Ratings reissued a “buy (b-)” rating on shares of Flex in a research report on Wednesday, October 8th. KeyCorp increased their price objective on shares of Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. Stifel Nicolaus increased their price objective on shares of Flex from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Finally, Bank of America increased their price objective on shares of Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.67.

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 45,000 shares of Flex stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $57.14, for a total transaction of $2,571,300.00. Following the completion of the transaction, the insider directly owned 256,198 shares of the company’s stock, valued at $14,639,153.72. The trade was a 14.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $56.66, for a total transaction of $566,600.00. Following the transaction, the chief accounting officer directly owned 37,619 shares of the company’s stock, valued at approximately $2,131,492.54. This trade represents a 21.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 105,020 shares of company stock worth $6,070,442. Insiders own 0.57% of the company’s stock.

Flex Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.