Townsquare Capital LLC Sells 5,294 Shares of Flex Ltd. $FLEX

Townsquare Capital LLC lessened its holdings in Flex Ltd. (NASDAQ:FLEX) by 8.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,505 shares of the technology company’s stock after selling 5,294 shares during the period. Townsquare Capital LLC’s holdings in Flex were worth $3,595,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after acquiring an additional 25,662,586 shares during the period. Norges Bank bought a new stake in Flex during the 4th quarter worth approximately $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Flex during the 4th quarter worth approximately $2,497,000. Sequoia Financial Advisors LLC raised its stake in Flex by 12.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company’s stock worth $10,469,000 after acquiring an additional 19,270 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in Flex by 62.3% during the 4th quarter. Teacher Retirement System of Texas now owns 340,389 shares of the technology company’s stock worth $20,566,000 after acquiring an additional 130,641 shares during the period. Institutional investors own 94.30% of the company’s stock.

Flex Trading Down 5.2%

Shares of FLEX opened at $139.49 on Thursday. The company’s fifty day moving average is $112.51 and its 200 day moving average is $80.75. Flex Ltd. has a fifty-two week low of $42.83 and a fifty-two week high of $166.86. The stock has a market capitalization of $51.11 billion, a PE ratio of 59.87, a P/E/G ratio of 0.77 and a beta of 1.64. 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 (NASDAQ:FLEX) last announced its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The company had revenue of $7.48 billion for the quarter. Sell-side analysts expect that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Revathi Advaithi sold 83,500 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were 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 in the company, valued at approximately $80,455,708.14. The trade was a 12.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Scott Offer sold 33,000 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president owned 73,471 shares in the company, valued at $11,307,921.61. This represents a 30.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 345,012 shares of company stock valued at $48,508,103 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

FLEX has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price objective on shares of Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Barclays lifted their price objective on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. KeyCorp lifted their price objective on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. One equities 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 stock. Based on data from MarketBeat.com, Flex presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.

Key Stories Impacting Flex

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.