Flex Ltd. $FLEX Stake Lessened by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its holdings in Flex Ltd. (NASDAQ:FLEX) by 15.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 22,331,445 shares of the technology company’s stock after selling 3,978,401 shares during the period. Flex comprises approximately 0.6% of Janus Henderson Group PLC’s investment portfolio, making the stock its 23rd largest position. Janus Henderson Group PLC owned approximately 0.06% of Flex worth $1,349,249,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FLEX. Vanguard Group Inc. increased its position in Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after buying an additional 25,662,586 shares during the last quarter. Norges Bank acquired a new stake in shares of Flex in the fourth quarter valued at about $319,756,000. State Street Corp grew its position in shares of Flex by 38.0% in the second 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Flex by 694,916.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company’s stock valued at $159,573,000 after purchasing an additional 2,640,682 shares during the last quarter. Finally, Polar Capital Holdings Plc grew its position in shares of Flex by 141.8% in the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after purchasing an additional 2,165,780 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 value of $2,072,100.00. Following the completion of the transaction, the director owned 45,426 shares in the company, valued at approximately $6,275,147.64. The trade was a 24.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Revathi Advaithi sold 114,090 shares of Flex stock in a transaction that occurred 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 of the company’s stock, valued at $98,096,062.14. This trade represents a 14.21% decrease in their position. 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 have sold a total of 433,924 shares of company stock valued at $61,663,653 in the last ninety days. 0.57% of the stock is owned by corporate insiders.

Flex News Summary

Here are the key news stories impacting Flex this week:

• Neutral Sentiment: CEO Revathi Advaithi sold 39,239 shares, a 6.48% reduction in her holdings, in a transaction valued at about $5.8 million; the filing says the sale was to cover tax withholding obligations. SEC filing
• Neutral Sentiment: CFO Kevin Krumm sold 3,378 shares, and COO Kwang Hooi Tan sold 10,540 shares, both describing the trades as tax-related equity award withholding rather than a change in business outlook. SEC filing
• Neutral Sentiment: EVP David Scott Offer sold shares in two transactions, including one under a Rule 10b5-1 plan, which may reduce concern about timing but still adds to the overall insider-selling narrative. SEC filing
• Neutral Sentiment: Other insider sales came from COO Kwang Hooi Tan, insider Michael P. Hartung, and CAO Daniel Wendler, all similarly framed as equity-compensation-related selling. SEC filing

Flex Stock Performance

Flex stock opened at $143.13 on Thursday. 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 stock has a fifty day moving average price of $120.56 and a two-hundred day moving average price of $83.95. Flex Ltd. has a 52-week low of $45.31 and a 52-week high of $166.86. The firm has a market capitalization of $52.44 billion, a P/E ratio of 61.43, a P/E/G ratio of 0.77 and a beta of 1.64.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The firm had revenue of $7.48 billion during the quarter. As a group, analysts anticipate that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays raised their price target on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. raised their price target on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Robert W. Baird set a $165.00 target price on shares of Flex in a research note on Thursday, May 7th. Finally, Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.70.

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.