Zurcher Kantonalbank Zurich Cantonalbank Purchases 507,605 Shares of Flex Ltd. $FLEX

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Flex Ltd. (NASDAQ:FLEX) by 359.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 649,012 shares of the technology company’s stock after buying an additional 507,605 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Flex were worth $39,213,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State Street Corp increased its holdings 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 purchasing an additional 3,377,669 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in Flex by 118.1% in the third quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company’s stock worth $162,968,000 after purchasing an additional 1,522,308 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Flex by 5,973.9% during the third quarter. Pacer Advisors Inc. now owns 1,365,043 shares of the technology company’s stock worth $79,132,000 after purchasing an additional 1,342,569 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Flex by 80.9% in the third quarter. JPMorgan Chase & Co. now owns 2,645,745 shares of the technology company’s stock valued at $153,374,000 after buying an additional 1,183,464 shares in the last quarter. Finally, Junto Capital Management LP bought a new position in shares of Flex in the third quarter valued at about $56,270,000. 94.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays upped their price target on shares of Flex from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Robert W. Baird initiated coverage on shares of Flex in a research note on Thursday, March 12th. They issued an “outperform” rating and a $70.00 target price for the company. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Flex in a report on Monday, December 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.30.

Insider Buying and Selling at Flex

In related news, COO Kwang Hooi Tan sold 17,500 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $58.87, for a total value 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. This represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.57% of the stock is currently owned by company insiders.

Flex Price Performance

Flex stock opened at $84.28 on Tuesday. The business’s 50-day simple moving average is $67.18 and its 200 day simple moving average is $64.08. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 0.73. The stock has a market cap of $30.99 billion, a price-to-earnings ratio of 37.79, a P/E/G ratio of 1.77 and a beta of 1.22. Flex Ltd. has a 12-month low of $30.05 and a 12-month high of $84.56.

Flex (NASDAQ:FLEX) last released its earnings results on Wednesday, February 4th. The technology company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $6.84 billion. Flex had a net margin of 3.17% and a return on equity of 20.99%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. Flex has set its FY 2026 guidance at 3.210-3.270 EPS and its Q4 2026 guidance at 0.830-0.890 EPS. As a group, research analysts anticipate that Flex Ltd. will post 2.92 earnings per share 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.