Figure 8 Investment Strategies LLC Sells 7,403 Shares of Flex Ltd. $FLEX

Figure 8 Investment Strategies LLC lessened its holdings in Flex Ltd. (NASDAQ:FLEX) by 19.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,486 shares of the technology company’s stock after selling 7,403 shares during the period. Flex makes up approximately 4.4% of Figure 8 Investment Strategies LLC’s portfolio, making the stock its 5th largest position. Figure 8 Investment Strategies LLC’s holdings in Flex were worth $5,103,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. State Street Corp increased its holdings in Flex by 17.8% during 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 during the period. Geode Capital Management LLC raised its holdings in Flex by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock valued at $459,829,000 after acquiring an additional 181,266 shares in the last quarter. Norges Bank purchased a new position in Flex in the fourth quarter worth approximately $319,756,000. Polar Capital Holdings Plc grew its holdings in Flex by 141.8% during the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after acquiring an additional 2,165,780 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Flex by 3.3% in 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. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Analysts Set New Price Targets

FLEX has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Flex from $203.00 to $144.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Freedom Capital raised Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Robert W. Baird set a $142.00 price target on Flex in a report on Thursday, July 30th. Raymond James Financial set a $170.00 price objective on Flex and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Zacks Research lowered Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.20.

Flex News Roundup

Here are the key news stories impacting Flex this week:

• Positive Sentiment: AI data-center and grid exposure: EPC Power designs power-conversion systems for data centers, utility-scale energy storage and microgrids. Its grid-forming technology and support for next-generation 800-volt data-center architectures could allow Flex to benefit from rising AI infrastructure and electricity-demand investment. Flex to Acquire EPC Power
• Positive Sentiment: Strategic expansion: Management plans to incorporate EPC Power into Flex’s upcoming spin-off, potentially creating a more focused power-infrastructure business and highlighting the value of the acquired assets. Flex Buys EPC Power
• Neutral Sentiment: Large transaction to assess: The $4.4 billion purchase is a major expansion for Flex. Investors will likely focus on the deal’s funding, integration progress, contribution to earnings and how the business will be structured within the planned spin-off. Flex to Acquire EPC Power
• Neutral Sentiment: Investor engagement: Flex leadership is scheduled to participate in the Goldman Sachs Communacopia + Technology Conference, providing an opportunity for management to discuss the acquisition and its AI infrastructure strategy. Flex Investor Conference
• Neutral Sentiment: Valuation support: Zacks highlighted Flex as a potential long-term value stock based on its style-score framework, which may reinforce positive sentiment but does not represent a new operating or earnings update. Why Flex Is a Top Value Stock
• Neutral Sentiment: Legal update: A trade-secret lawsuit involving Flex is reportedly moving toward resolution, but the available report does not indicate a material financial impact. Flex Trade Secret Suit

Flex Trading Up 1.5%

NASDAQ FLEX opened at $109.51 on Friday. The firm’s fifty day moving average price is $122.84 and its 200 day moving average price is $108.80. Flex Ltd. has a 12 month low of $53.07 and a 12 month high of $166.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.89. The company has a market capitalization of $40.45 billion, a price-to-earnings ratio of 42.28, a price-to-earnings-growth ratio of 0.55 and a beta of 1.67.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share for the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. The firm had revenue of $7.93 billion during the quarter. On average, sell-side analysts expect that Flex Ltd. will post 4.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael P. Hartung sold 2,755 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $120.64, for a total value of $332,363.20. Following the completion of the sale, the insider directly owned 243,175 shares of the company’s stock, valued at $29,336,632. This represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Offer sold 6,657 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $145.23, for a total value of $966,796.11. Following the transaction, the executive vice president owned 91,122 shares in the company, valued at $13,233,648.06. This represents a 6.81% 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. In the last three months, insiders sold 426,938 shares of company stock worth $61,941,083. Corporate insiders own 0.62% of the company’s stock.

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.