Primecap Management Co. CA Sells 2,521,231 Shares of Flex Ltd. $FLEX

Primecap Management Co. CA lessened its stake in Flex Ltd. (NASDAQ:FLEX) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,603,616 shares of the technology company’s stock after selling 2,521,231 shares during the period. Flex comprises 1.3% of Primecap Management Co. CA’s portfolio, making the stock its 19th biggest holding. Primecap Management Co. CA owned approximately 8.95% of Flex worth $1,677,493,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. BayBridge Capital Group LLC grew its holdings in shares of Flex by 2.1% during the 2nd quarter. BayBridge Capital Group LLC now owns 11,400 shares of the technology company’s stock worth $569,000 after purchasing an additional 235 shares in the last quarter. Pinnacle Bancorp Inc. lifted its position in Flex by 39.4% in the second quarter. Pinnacle Bancorp Inc. now owns 864 shares of the technology company’s stock worth $43,000 after purchasing an additional 244 shares during the period. Farther Finance Advisors LLC boosted its stake in Flex by 1.8% during the second quarter. Farther Finance Advisors LLC now owns 15,206 shares of the technology company’s stock worth $759,000 after buying an additional 266 shares in the last quarter. Uncommon Cents Investing LLC increased its holdings in Flex by 4.1% in the 2nd quarter. Uncommon Cents Investing LLC now owns 6,850 shares of the technology company’s stock valued at $342,000 after buying an additional 270 shares during the period. Finally, Tower Wealth Partners Inc. raised its stake in shares of Flex by 4.4% in the 2nd quarter. Tower Wealth Partners Inc. now owns 6,731 shares of the technology company’s stock valued at $336,000 after buying an additional 286 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Upgrades and Downgrades

FLEX has been the topic of a number of analyst reports. Argus set a $85.00 target price on shares of Flex in a research note on Friday, October 31st. JPMorgan Chase & Co. increased their target price on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Barclays boosted their price target on Flex from $60.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Bank of America increased their price objective on Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $23.00 target price on shares of Flex in a research note on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.75.

Insider Transactions at Flex

In other Flex news, COO Kwang Hooi Tan sold 12,500 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $64.88, for a total value of $811,000.00. Following the completion of the transaction, the chief operating officer directly owned 251,136 shares of the company’s stock, valued at approximately $16,293,703.68. The trade was a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael P. Hartung sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $62.21, for a total transaction of $933,150.00. Following the sale, the insider directly owned 211,198 shares in the company, valued at $13,138,627.58. This trade represents a 6.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 132,500 shares of company stock worth $7,812,450. Corporate insiders own 0.57% of the company’s stock.

Flex Trading Down 2.0%

Shares of FLEX opened at $57.57 on Wednesday. The stock has a fifty day moving average price of $60.27 and a two-hundred day moving average price of $52.26. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33. The company has a market cap of $21.29 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 1.56 and a beta of 1.24. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $67.00.

Flex (NASDAQ:FLEX) last announced its earnings results 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. Flex had a return on equity of 20.86% and a net margin of 3.33%.The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same period last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. Flex has set its FY 2026 guidance at 3.090-3.170 EPS. Q3 2026 guidance at 0.740-0.800 EPS. Analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

About Flex

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.