JPMorgan Chase & Co. Purchases 1,183,464 Shares of Flex Ltd. $FLEX

JPMorgan Chase & Co. boosted its position in Flex Ltd. (NASDAQ:FLEX) by 80.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,645,745 shares of the technology company’s stock after acquiring an additional 1,183,464 shares during the quarter. JPMorgan Chase & Co. owned 0.72% of Flex worth $153,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLEX. Norges Bank acquired a new stake in shares of Flex in the 2nd quarter valued at $291,362,000. State Street Corp lifted its position in shares of Flex by 38.0% during the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after buying an additional 3,377,669 shares during the last quarter. Geode Capital Management LLC boosted its stake in Flex by 52.1% in the second quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock valued at $358,500,000 after buying an additional 2,459,511 shares in the last quarter. Pacer Advisors Inc. grew its position in Flex by 5,973.9% in the third quarter. Pacer Advisors Inc. now owns 1,365,043 shares of the technology company’s stock valued at $79,132,000 after acquiring an additional 1,342,569 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Flex by 44.0% in the second quarter. Bank of New York Mellon Corp now owns 2,928,808 shares of the technology company’s stock valued at $146,206,000 after acquiring an additional 894,790 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Insider Activity at Flex

In other news, CFO Kevin Krumm sold 21,406 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $61.23, for a total transaction of $1,310,689.38. Following the completion of the sale, the chief financial officer directly owned 143,803 shares in the company, valued at $8,805,057.69. This represents a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael E. Hurlston sold 10,000 shares of Flex stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the transaction, the director directly owned 58,561 shares of the company’s stock, valued at $3,396,538. This represents a 14.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,406 shares of company stock worth $2,610,389 over the last ninety days. Insiders own 0.57% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $65.68 on Friday. The company has a market capitalization of $24.15 billion, a price-to-earnings ratio of 29.45, a PEG ratio of 1.60 and a beta of 1.24. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $72.22. The stock has a fifty day simple moving average of $63.75 and a 200 day simple moving average of $60.19. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, February 4th. The technology company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.79 by $0.08. The firm had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $6.84 billion. Flex had a return on equity of 20.99% and a net margin of 3.17%.The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 EPS. Flex has set its FY 2026 guidance at 3.210-3.270 EPS and its Q4 2026 guidance at 0.830-0.890 EPS. Sell-side analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FLEX shares. JPMorgan Chase & Co. raised their price target on shares of Flex from $60.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Raymond James Financial set a $80.00 target price on shares of Flex and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Jefferies Financial Group reiterated a “hold” rating and set a $23.00 price target on shares of Flex in a report on Wednesday, November 12th. The Goldman Sachs Group raised 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, Argus set a $85.00 price objective on Flex in a research report on Friday, October 31st. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $66.78.

Flex 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.