Ameritas Investment Partners Inc. Acquires 21,770 Shares of Flex Ltd. $FLEX

Ameritas Investment Partners Inc. raised its holdings in Flex Ltd. (NASDAQ:FLEX) by 30.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,126 shares of the technology company’s stock after buying an additional 21,770 shares during the period. Ameritas Investment Partners Inc.’s holdings in Flex were worth $5,566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Flex by 196.1% in the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares during the last quarter. State Street Corp grew its position in shares of Flex by 38.0% in the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after purchasing an additional 3,377,669 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 181,266 shares during the last quarter. Norges Bank acquired a new position in shares of Flex in the fourth quarter valued at approximately $319,756,000. Finally, Qube Research & Technologies Ltd grew its position in shares of Flex by 118.1% in the third quarter. Qube Research & Technologies Ltd now owns 2,811,248 shares of the technology company’s stock valued at $162,968,000 after purchasing an additional 1,522,308 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Key Flex News

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex announced it will join the S&P 500, a milestone that validates the company’s transformation and could bring incremental index-fund buying. Flex to Join S&P 500 Index
• Positive Sentiment: Barclays lifted its price target on Flex to $203 from $174, citing strength in AI-related and other business segments, which reinforces a bullish fundamental view. Barclays Lifts PT on Flex Ltd. (FLEX), Cites AI and Business Segments
• Neutral Sentiment: Market commentary continues to frame FLEX as an emerging AI infrastructure play, which may support a higher valuation over time but does not immediately change near-term fundamentals. Flex To Enter S&P 500 Positioned As A Major AI Infrastructure Player
• Negative Sentiment: The stock is also seeing some profit-taking after a strong run, and investors appear cautious about Flex’s new $1.45 billion term-loan financing and near-term leverage/capex needs. Flex slides 5.3% as investors digest fresh debt financing and take profits after a strong run

Flex Trading Down 5.2%

Shares of NASDAQ:FLEX opened at $139.49 on Thursday. The company has a market capitalization of $51.11 billion, a P/E ratio of 59.87, a P/E/G ratio of 0.77 and a beta of 1.64. Flex Ltd. has a 1 year low of $42.83 and a 1 year high of $166.86. 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 business’s 50 day simple moving average is $112.51 and its 200 day simple moving average is $80.75.

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

Insider Activity

In other Flex news, COO Kwang Hooi Tan sold 17,500 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $135.93, for a total transaction of $2,378,775.00. Following the completion of the sale, the chief operating officer directly owned 238,543 shares in the company, valued at $32,425,149.99. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Revathi Advaithi sold 83,500 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $132.87, for a total value of $11,094,645.00. Following the sale, the chief executive officer owned 605,522 shares of the company’s stock, valued at $80,455,708.14. The trade was a 12.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 345,012 shares of company stock valued at $48,508,103. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on FLEX. Stifel Nicolaus upped their target price on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Robert W. Baird set a $165.00 target price on Flex in a research report on Thursday, May 7th. Barclays upped their target price on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. upped their target price on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Flex has an average rating of “Moderate Buy” and an average price target of $115.70.

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.