Assetmark Inc. Boosts Holdings in Flex Ltd. $FLEX

Assetmark Inc. increased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 5.4% in the second quarter, Holdings Channel.com reports. The firm owned 22,068 shares of the technology company’s stock after purchasing an additional 1,133 shares during the quarter. Assetmark Inc.’s holdings in Flex were worth $1,102,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Flex by 4.8% during the first quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company’s stock valued at $719,232,000 after buying an additional 996,276 shares during the period. Invesco Ltd. boosted its stake in shares of Flex by 55.0% during the first quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company’s stock valued at $276,652,000 after purchasing an additional 2,968,285 shares during the period. Voya Investment Management LLC boosted its stake in shares of Flex by 16.7% during the first quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company’s stock valued at $159,243,000 after purchasing an additional 690,611 shares during the period. Earnest Partners LLC boosted its stake in shares of Flex by 3.2% during the first quarter. Earnest Partners LLC now owns 4,121,113 shares of the technology company’s stock valued at $136,326,000 after purchasing an additional 128,464 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Flex by 16.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company’s stock valued at $103,714,000 after purchasing an additional 453,455 shares during the period. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on FLEX. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. KGI Securities lowered Flex from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Wall Street Zen upgraded Flex from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. The Goldman Sachs Group upped their target price on Flex from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, KeyCorp upped their target price on Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $71.86.

Insider Buying and Selling

In related news, COO Kwang Hooi Tan sold 12,500 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $64.88, for a total value of $811,000.00. Following the completion of the transaction, the chief operating officer directly owned 251,136 shares of the company’s stock, valued at $16,293,703.68. This trade represents a 4.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Daniel Wendler sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $56.66, for a total transaction of $566,600.00. Following the completion of the transaction, the chief accounting officer directly owned 37,619 shares of the company’s stock, valued at approximately $2,131,492.54. This represents a 21.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 120,020 shares of company stock valued at $7,004,342 in the last 90 days. 0.57% of the stock is owned by insiders.

Flex Stock Performance

FLEX stock opened at $65.26 on Thursday. The firm has a market cap of $24.13 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.64 and a beta of 1.24. The firm has a 50-day simple moving average of $59.11 and a two-hundred day simple moving average of $50.43. Flex Ltd. has a one year low of $25.11 and a one year high of $67.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.83 and a current ratio of 1.33.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, October 29th. The technology company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. Flex had a net margin of 3.33% and a return on equity of 20.86%. The company had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. Flex’s revenue for the quarter was up 4.0% compared to the same quarter last year. Flex has set its FY 2026 guidance at 3.090-3.170 EPS. Q3 2026 guidance at 0.740-0.800 EPS. On average, equities analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.