Pekin Hardy Strauss Inc. Takes Position in Flex Ltd. $FLEX

Pekin Hardy Strauss Inc. purchased a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,850 shares of the technology company’s stock, valued at approximately $392,000.

Several other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of Flex by 4.8% during the first quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company’s stock valued at $719,232,000 after purchasing an additional 996,276 shares during the period. Invesco Ltd. grew its holdings in Flex by 55.0% during the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company’s stock valued at $276,652,000 after purchasing an additional 2,968,285 shares in the last quarter. Voya Investment Management LLC increased its stake in Flex by 16.7% during the 1st quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company’s stock worth $159,243,000 after buying an additional 690,611 shares during the period. Earnest Partners LLC lifted its holdings in Flex by 3.2% in the 1st quarter. Earnest Partners LLC now owns 4,121,113 shares of the technology company’s stock worth $136,326,000 after buying an additional 128,464 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Flex by 16.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company’s stock valued at $103,714,000 after acquiring an additional 453,455 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Performance

Flex stock opened at $62.64 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83. Flex Ltd. has a 12 month low of $25.11 and a 12 month high of $67.00. The company has a fifty day moving average price of $59.46 and a two-hundred day moving average price of $50.88. The company has a market cap of $23.16 billion, a PE ratio of 27.72, a P/E/G ratio of 1.66 and a beta of 1.24.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, October 29th. The technology company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. Flex had a net margin of 3.33% and a return on equity of 20.86%. The company had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s 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. Research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on FLEX. JPMorgan Chase & Co. boosted their price target on Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Barclays lifted their price objective on Flex from $60.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Stifel Nicolaus increased their target price on Flex from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, July 25th. The Goldman Sachs Group lifted their price target on shares of Flex from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $71.86.

Insider Transactions at Flex

In other Flex news, Director William D. Watkins sold 10,000 shares of Flex stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. Following the completion of the transaction, the director directly owned 111,355 shares in the company, valued at $5,767,075.45. The trade was a 8.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Erin Mcsweeney sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $51.47, for a total value of $514,700.00. Following the sale, the director owned 17,012 shares in the company, valued at $875,607.64. The trade was a 37.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 120,020 shares of company stock valued at $7,004,342 over the last ninety days. 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.