Flex Ltd. $FLEX Shares Bought by Citigroup Inc.

Citigroup Inc. grew its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 371.3% in the third quarter, Holdings Channel reports. The institutional investor owned 615,355 shares of the technology company’s stock after purchasing an additional 484,779 shares during the period. Citigroup Inc.’s holdings in Flex were worth $35,672,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hillsdale Investment Management Inc. acquired a new position in Flex in the third quarter valued at approximately $1,046,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Flex in the 3rd quarter valued at $275,000. Marshall & Sterling Wealth Advisors Inc. grew its position in shares of Flex by 84.4% in the 3rd quarter. Marshall & Sterling Wealth Advisors Inc. now owns 1,660 shares of the technology company’s stock valued at $96,000 after buying an additional 760 shares during the last quarter. Pekin Hardy Strauss Inc. raised its stake in Flex by 5.1% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 8,250 shares of the technology company’s stock worth $478,000 after acquiring an additional 400 shares in the last quarter. Finally, MJP Associates Inc. ADV purchased a new stake in Flex in the third quarter valued at $213,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Trading Up 2.6%

NASDAQ:FLEX opened at $64.92 on Wednesday. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $72.22. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. The stock’s 50 day simple moving average is $63.66 and its 200-day simple moving average is $60.46. The firm has a market cap of $23.87 billion, a P/E ratio of 29.11, a PEG ratio of 1.55 and a beta of 1.24.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data 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. The firm had revenue of $7.06 billion for the quarter, compared to analyst estimates of $6.84 billion. Flex had a net margin of 3.17% and a return on equity of 20.99%. Flex’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $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. Equities analysts anticipate that Flex Ltd. will post 2.33 EPS for the current year.

Insider Transactions at Flex

In other news, CFO Kevin Krumm sold 21,406 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total value of $1,310,689.38. Following the completion of the sale, the chief financial officer directly owned 143,803 shares of the company’s stock, valued at $8,805,057.69. This trade represents a 12.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $71.97, for a total value of $719,700.00. Following the completion of the sale, the chief accounting officer owned 27,619 shares in the company, valued at approximately $1,987,739.43. This trade represents a 26.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.57% of the stock is owned by company insiders.

Analysts Set New Price Targets

FLEX has been the topic of several research reports. Argus set a $85.00 price objective on Flex in a report on Friday, October 31st. Jefferies Financial Group restated a “hold” rating and set a $23.00 price target on shares of Flex in a research note on Wednesday, November 12th. Zacks Research cut Flex from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Raymond James Financial set a $80.00 price objective on Flex and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, KeyCorp lifted their target price on shares of Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.78.

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.