Allianz Asset Management GmbH Decreases Stock Position in Flex Ltd. $FLEX

Allianz Asset Management GmbH lessened its position in Flex Ltd. (NASDAQ:FLEX) by 18.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,946,307 shares of the technology company’s stock after selling 447,156 shares during the quarter. Allianz Asset Management GmbH’s holdings in Flex were worth $117,596,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its position in Flex by 5.3% during the third quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company’s stock worth $208,000 after buying an additional 181 shares in the last quarter. Parcion Private Wealth LLC increased its stake in Flex by 1.5% during the fourth quarter. Parcion Private Wealth LLC now owns 14,159 shares of the technology company’s stock worth $855,000 after acquiring an additional 216 shares during the last quarter. US Bancorp DE increased its stake in Flex by 1.2% during the third quarter. US Bancorp DE now owns 19,729 shares of the technology company’s stock worth $1,144,000 after acquiring an additional 225 shares during the last quarter. Tower Wealth Partners Inc. increased its stake in Flex by 3.7% during the third quarter. Tower Wealth Partners Inc. now owns 6,980 shares of the technology company’s stock worth $405,000 after acquiring an additional 249 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its stake in Flex by 3.3% during the second quarter. Benjamin Edwards Inc. now owns 8,063 shares of the technology company’s stock worth $403,000 after acquiring an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In other news, EVP David Scott Offer sold 33,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the transaction, the executive vice president owned 73,471 shares of the company’s stock, valued at approximately $11,307,921.61. This represents a 30.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles K. Stevens III sold 15,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the sale, the director owned 45,426 shares of the company’s stock, valued at $6,275,147.64. This trade represents a 24.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 345,012 shares of company stock worth $48,508,103 in the last 90 days. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

FLEX has been the subject of a number of research reports. The Goldman Sachs Group lifted their price objective on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. JPMorgan Chase & Co. lifted their price target on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Stifel Nicolaus boosted their price target on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Flex presently has an average rating of “Moderate Buy” and an average target price of $115.70.

Flex Stock Performance

Shares of NASDAQ FLEX opened at $139.49 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average price is $112.51 and its two-hundred day moving average price is $80.75. The stock 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 52-week low of $42.83 and a 52-week high of $166.86.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data 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 business had revenue of $7.48 billion during the quarter. As a group, sell-side analysts forecast that Flex Ltd. will post 4.15 earnings per share for the current year.

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 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.