Prudential PLC Increases Stock Holdings in Flex Ltd. $FLEX

Prudential PLC boosted its position in Flex Ltd. (NASDAQ:FLEX) by 97.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,001 shares of the technology company’s stock after purchasing an additional 11,816 shares during the quarter. Prudential PLC’s holdings in Flex were worth $1,450,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. USA Financial Formulas bought a new position in Flex in the fourth quarter worth $28,000. Frazier Financial Advisors LLC bought a new position in shares of Flex during the fourth quarter valued at $28,000. CENTRAL TRUST Co increased its holdings in Flex by 238.3% in the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after buying an additional 355 shares in the last quarter. Gables Capital Management Inc. bought a new stake in Flex in the 4th quarter worth about $42,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Flex in the 3rd quarter worth about $52,000. Institutional investors own 94.30% of the company’s stock.

Flex Stock Performance

Flex stock opened at $151.92 on Monday. The stock has a 50-day moving average of $107.57 and a two-hundred day moving average of $78.87. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. Flex Ltd. has a one year low of $42.60 and a one year high of $166.86. The stock has a market cap of $55.66 billion, a PE ratio of 65.20, a price-to-earnings-growth ratio of 0.80 and a beta of 1.63.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share 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 related news, insider Michael P. Hartung sold 22,216 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $142.38, for a total transaction of $3,163,114.08. Following the sale, the insider directly owned 232,706 shares of the company’s stock, valued at $33,132,680.28. This trade represents a 8.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Erin Mcsweeney sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $132.51, for a total value of $265,020.00. Following the completion of the sale, the director directly owned 9,512 shares in the company, valued at approximately $1,260,435.12. The trade was a 17.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 345,012 shares of company stock valued at $48,508,103 over the last 90 days. Company 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

Wall Street Analyst Weigh In

FLEX has been the subject of several research analyst reports. KeyCorp lifted their price objective on Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Barclays lifted their price objective on Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price objective 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 research report on Wednesday, May 13th. Finally, The Goldman Sachs Group boosted their price target on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. One 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.