L2 Asset Management LLC Has $7.27 Million Position in Flex Ltd. $FLEX

L2 Asset Management LLC lessened its holdings in Flex Ltd. (NASDAQ:FLEX) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,487 shares of the technology company’s stock after selling 19,378 shares during the quarter. Flex accounts for approximately 1.1% of L2 Asset Management LLC’s holdings, making the stock its 22nd biggest holding. L2 Asset Management LLC’s holdings in Flex were worth $7,274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Boston Partners increased its stake in Flex by 3.5% in the second quarter. Boston Partners now owns 20,620,717 shares of the technology company’s stock valued at $1,029,769,000 after acquiring an additional 687,835 shares during the period. Vanguard Group Inc. lifted its stake in Flex by 1.7% during the third quarter. Vanguard Group Inc. now owns 13,083,744 shares of the technology company’s stock worth $758,465,000 after purchasing an additional 221,819 shares during the period. State Street Corp lifted its stake in Flex by 38.0% during the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after purchasing an additional 3,377,669 shares during the period. Invesco Ltd. boosted its holdings in Flex by 6.1% during the second quarter. Invesco Ltd. now owns 8,871,601 shares of the technology company’s stock valued at $442,870,000 after purchasing an additional 508,495 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Flex in the 2nd quarter valued at approximately $291,362,000. 94.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Kwang Hooi Tan sold 17,500 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $58.87, for a total value of $1,030,225.00. Following the completion of the sale, the chief operating officer directly owned 233,636 shares in the company, valued at approximately $13,754,151.32. This trade represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin Krumm sold 21,406 shares of Flex stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $61.23, for a total value of $1,310,689.38. Following the completion of the transaction, the chief financial officer directly owned 143,803 shares of the company’s stock, valued at $8,805,057.69. This represents a 12.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.57% of the company’s stock.

Flex Stock Up 1.6%

Shares of FLEX opened at $64.45 on Tuesday. The company has a market capitalization of $23.70 billion, a P/E ratio of 28.90, a PEG ratio of 1.55 and a beta of 1.24. Flex Ltd. has a one year low of $25.11 and a one year high of $72.22. The business’s 50 day simple moving average is $63.77 and its 200-day simple moving average is $61.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.40 and a quick ratio of 0.88.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. Flex had a return on equity of 20.99% and a net margin of 3.17%.The firm had revenue of $7.06 billion during the quarter, compared to analysts’ expectations of $6.84 billion. During the same period last year, the firm posted $0.77 EPS. The business’s revenue was up 7.7% on a year-over-year basis. 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, sell-side analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FLEX has been the subject of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Flex in a report on Monday, December 29th. Raymond James Financial set a $80.00 price target on Flex and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Zacks Research lowered Flex from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. The Goldman Sachs Group lifted their price objective on Flex from $67.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Finally, Barclays upped their target price on shares of Flex from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flex presently has an average rating of “Moderate Buy” and a consensus price target of $67.10.

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.