Bank of Nova Scotia Cuts Stake in Flex Ltd. $FLEX

Bank of Nova Scotia cut its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 97.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,018 shares of the technology company’s stock after selling 827,502 shares during the quarter. Bank of Nova Scotia’s holdings in Flex were worth $1,441,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC purchased a new stake in shares of Flex in the 4th quarter valued at $260,000. Goldman Sachs Group Inc. raised its position in Flex by 19.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after purchasing an additional 211,046 shares during the period. Empowered Funds LLC bought a new stake in Flex in the first quarter worth $397,000. EverSource Wealth Advisors LLC boosted its position in Flex by 63.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock valued at $132,000 after buying an additional 1,031 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Flex by 92.4% in the second quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock worth $3,099,000 after buying an additional 29,821 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP David Scott Offer sold 33,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the completion of the transaction, the executive vice president owned 73,471 shares in the company, valued at $11,307,921.61. This represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael P. Hartung sold 22,627 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total value of $3,269,148.96. Following the completion of the sale, the insider directly owned 253,199 shares of the company’s stock, valued at $36,582,191.52. The trade was a 8.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FLEX shares. Stifel Nicolaus boosted their target price on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Robert W. Baird set a $165.00 price target on Flex in a research note on Thursday, May 7th. Freedom Capital upgraded Flex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. KeyCorp increased their price objective on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.70.

Flex News Roundup

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex reported fiscal Q1 2027 adjusted earnings of $1.00 per share, above the roughly $0.90-$0.93 analyst consensus, while revenue reached $7.93 billion versus expectations near $7.53 billion. Revenue increased 20.6% year over year, and adjusted operating margin reached 6.7%. Flex fiscal Q1 results
• Positive Sentiment: Management raised fiscal 2027 revenue guidance to $33.7 billion-$35.2 billion, above the $33.3 billion consensus, and set second-quarter revenue guidance of $8.0 billion-$8.3 billion versus expectations of $7.8 billion. Q2 EPS guidance of $1.00-$1.07 also exceeds the $0.98 consensus. Flex earnings beat and guidance
• Positive Sentiment: Growth accelerated in Cloud and Power Infrastructure, supporting the planned separation of that business into an independently traded company, SpinCo, expected in the first calendar quarter of 2027. Flex SpinCo leadership announcement
• Neutral Sentiment: Flex announced leadership teams for both the remaining Flex business and SpinCo, providing additional detail on preparations for the planned separation but no immediate financial impact. Flex Q1 2027 earnings call transcript
• Negative Sentiment: The stock’s decline, on volume well above average, indicates that the strong results and outlook may already have been priced in. With shares trading at a relatively elevated earnings multiple, investors may be taking profits because the full-year EPS guidance range of $4.42-$4.74 only modestly exceeds or surrounds current consensus expectations.

Flex Stock Down 9.1%

NASDAQ FLEX opened at $103.02 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 market capitalization of $37.74 billion, a PE ratio of 44.21, a PEG ratio of 0.59 and a beta of 1.64. Flex Ltd. has a 1 year low of $47.83 and a 1 year high of $166.86. The business’s 50-day moving average is $140.27 and its 200 day moving average is $99.27.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.10. Flex had a return on equity of 22.12% and a net margin of 3.15%.The company had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same quarter in the previous year, the business earned $0.72 EPS. Flex’s revenue was up 20.6% compared to the same quarter last year. Flex has set its Q2 2027 guidance at 1.000-1.070 EPS and its FY 2027 guidance at 4.420-4.740 EPS. Sell-side analysts forecast that Flex Ltd. will post 4.18 earnings per share for the current year.

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.