Flex (NASDAQ:FLEX) Updates Q2 2027 Earnings Guidance

Flex (NASDAQ:FLEX) issued an update on its second quarter 2027 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.000-1.070 for the period, compared to the consensus estimate of 0.980. The company issued revenue guidance of $8.0 billion-$8.3 billion, compared to the consensus revenue estimate of $7.8 billion. Flex also updated its FY 2027 guidance to 4.420-4.740 EPS.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays boosted their price target on shares of Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Robert W. Baird set a $165.00 target price on shares of Flex in a research report on Thursday, May 7th. KeyCorp raised their price target on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Finally, The Goldman Sachs Group upped their price target on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Flex currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.

Flex Trading Down 2.4%

Shares of FLEX opened at $113.28 on Wednesday. The stock has a market capitalization of $41.50 billion, a P/E ratio of 48.62, a PEG ratio of 0.61 and a beta of 1.64. Flex has a twelve month low of $47.83 and a twelve month high of $166.86. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $140.84 and a two-hundred day simple moving average of $98.96.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Wednesday, July 29th. The technology company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.90 by $0.10. The firm had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $7.53 billion. Flex had a net margin of 3.15% and a return on equity of 22.12%. Flex has set its Q2 2027 guidance at 1.000-1.070 EPS and its FY 2027 guidance at 4.420-4.740 EPS. On average, research analysts anticipate that Flex will post 4.18 EPS for the current year.

Insiders Place Their Bets

In related news, EVP David Scott Offer sold 33,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $153.91, for a total value of $5,079,030.00. Following the completion of the sale, the executive vice president owned 73,471 shares of the company’s stock, valued at $11,307,921.61. This trade represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael P. Hartung sold 22,627 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total transaction of $3,269,148.96. Following the completion of the transaction, the insider owned 253,199 shares of the company’s stock, valued at $36,582,191.52. This trade represents a 8.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 769,195 shares of company stock valued at $110,116,823 over the last three months. 0.62% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp boosted its stake in Flex by 17.8% in the 4th quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock worth $849,235,000 after purchasing an additional 2,126,440 shares in the last quarter. Northern Trust Corp grew its position in Flex by 3.3% during the 4th quarter. Northern Trust Corp now owns 3,197,827 shares of the technology company’s stock valued at $193,213,000 after purchasing an additional 101,218 shares during the last quarter. Morgan Stanley increased its stake in Flex by 19.9% during the 4th quarter. Morgan Stanley now owns 2,946,427 shares of the technology company’s stock valued at $178,023,000 after purchasing an additional 488,538 shares in the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of 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 buying an additional 1,522,308 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Flex by 694,916.3% during 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 buying an additional 2,640,682 shares during the last quarter. Hedge funds and other institutional investors own 94.30% 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.