Sound Shore Management Inc CT Increases Holdings in Flex Ltd. $FLEX

Sound Shore Management Inc CT grew its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,770,524 shares of the technology company’s stock after buying an additional 39,579 shares during the quarter. Flex accounts for approximately 3.0% of Sound Shore Management Inc CT’s holdings, making the stock its 12th biggest holding. Sound Shore Management Inc CT owned approximately 0.47% of Flex worth $88,385,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BayBridge Capital Group LLC raised its position in Flex by 2.1% in the 2nd quarter. BayBridge Capital Group LLC now owns 11,400 shares of the technology company’s stock worth $569,000 after purchasing an additional 235 shares during the period. Pinnacle Bancorp Inc. raised its position in Flex by 39.4% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 864 shares of the technology company’s stock worth $43,000 after purchasing an additional 244 shares during the period. Farther Finance Advisors LLC raised its position in Flex by 1.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 15,206 shares of the technology company’s stock worth $759,000 after purchasing an additional 266 shares during the period. Uncommon Cents Investing LLC raised its position in Flex by 4.1% in the 2nd quarter. Uncommon Cents Investing LLC now owns 6,850 shares of the technology company’s stock worth $342,000 after purchasing an additional 270 shares during the period. Finally, Dynasty Wealth Management LLC raised its position in Flex by 0.7% in the 1st quarter. Dynasty Wealth Management LLC now owns 37,233 shares of the technology company’s stock worth $1,232,000 after purchasing an additional 276 shares during the period. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Flex Stock Performance

Shares of NASDAQ:FLEX opened at $65.26 on Thursday. The firm has a market cap of $24.13 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 1.64 and a beta of 1.24. The firm’s 50 day simple moving average is $59.11 and its 200-day simple moving average is $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 released its quarterly earnings data on Wednesday, October 29th. The technology company reported $0.79 earnings per share (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 firm had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same period last year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Flex has set its FY 2026 guidance at 3.090-3.170 EPS. Q3 2026 guidance at 0.740-0.800 EPS. As a group, equities analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Insider Activity

In other news, Director William D. Watkins sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $51.79, for a total transaction of $517,900.00. Following the transaction, the director directly owned 111,355 shares in the company, valued at approximately $5,767,075.45. This trade represents a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $811,000.00. Following the transaction, the chief operating officer owned 251,136 shares in the company, valued at approximately $16,293,703.68. This represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 120,020 shares of company stock valued at $7,004,342. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on FLEX. Wall Street Zen raised shares of Flex from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Flex in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Argus set a $85.00 target price on shares of Flex in a research report on Friday, October 31st. Finally, KeyCorp raised their target price on shares of Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.86.

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.