Flex Ltd. $FLEX Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Flex Ltd. (NASDAQ:FLEX) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,672,376 shares of the technology company’s stock after selling 93,240 shares during the period. Bank of New York Mellon Corp’s holdings in Flex were worth $161,465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Kesler Norman & Wride LLC boosted its holdings in shares of Flex by 68.7% during the 4th quarter. Kesler Norman & Wride LLC now owns 22,713 shares of the technology company’s stock worth $1,372,000 after purchasing an additional 9,251 shares during the last quarter. Peak Retirement Planning Inc. boosted its holdings in shares of Flex by 13.7% during the 4th quarter. Peak Retirement Planning Inc. now owns 45,962 shares of the technology company’s stock worth $2,777,000 after purchasing an additional 5,553 shares during the last quarter. Dynasty Wealth Management LLC boosted its holdings in shares of Flex by 2.3% during the 4th quarter. Dynasty Wealth Management LLC now owns 44,614 shares of the technology company’s stock worth $2,696,000 after purchasing an additional 1,012 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Flex by 2,543.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 122,120 shares of the technology company’s stock worth $7,378,000 after purchasing an additional 117,500 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Flex by 249.3% during the 4th quarter. BNP Paribas Financial Markets now owns 326,293 shares of the technology company’s stock worth $19,715,000 after purchasing an additional 232,876 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Flex

In other news, CEO Revathi Advaithi sold 83,500 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $132.87, for a total transaction of $11,094,645.00. Following the sale, the chief executive officer owned 605,522 shares of the company’s stock, valued at approximately $80,455,708.14. This represents a 12.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Scott Offer sold 33,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $153.91, for a total value of $5,079,030.00. Following the sale, the executive vice president directly owned 73,471 shares in the company, valued at $11,307,921.61. This represents a 30.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 362,512 shares of company stock valued at $49,538,328. Corporate insiders own 0.57% of the company’s stock.

Trending Headlines about Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex is highlighted as a potential winner in a strengthening electronics sector, with analysts pointing to infrastructure investment and capacity expansion as tailwinds for the business. Article Title
• Positive Sentiment: Investors are reacting to Flex’s growth strategy, including the planned separation of its Power and Cloud portfolio and an acquisition in electrical power, which could expand its exposure to AI data centers, grid modernization, and electrification. Article Title
• Neutral Sentiment: A Zacks follow-up notes that FLEX has risen since its last earnings report, but questions remain about whether the momentum can continue, making this more of a status update than a clear catalyst. Article Title
• Negative Sentiment: EVP David Scott Offer sold 33,000 shares in a pre-arranged 10b5-1 transaction, trimming his stake by about 31%; while routine, insider selling can still weigh on sentiment. Article Title

Flex Stock Down 4.8%

Shares of NASDAQ FLEX opened at $151.92 on Friday. The firm has a market cap of $55.66 billion, a price-to-earnings ratio of 65.20, a PEG ratio of 0.80 and a beta of 1.64. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. Flex Ltd. has a 52-week low of $42.60 and a 52-week high of $166.86. The business’s 50 day moving average is $107.57 and its two-hundred day moving average is $78.73.

Flex (NASDAQ:FLEX) last announced its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The company had revenue of $7.48 billion for the quarter. Research analysts predict that Flex Ltd. will post 4.15 EPS for the current year.

Wall Street Analysts Forecast Growth

FLEX has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their target price on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Robert W. Baird set a $165.00 price target on shares of Flex in a research report on Thursday, May 7th. Stifel Nicolaus lifted their price target on shares of Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, The Goldman Sachs Group lifted their price target on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Flex has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

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.