Ethic Inc. Acquires 8,972 Shares of Flex Ltd. $FLEX

Ethic Inc. boosted its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 24.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,576 shares of the technology company’s stock after acquiring an additional 8,972 shares during the period. Ethic Inc.’s holdings in Flex were worth $5,013,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of FLEX. Burkett Financial Services LLC bought a new position in shares of Flex during the third quarter valued at approximately $25,000. Reyes Financial Architecture Inc. bought a new stake in shares of Flex in the 3rd quarter worth approximately $28,000. Rosenberg Matthew Hamilton bought a new stake in shares of Flex in the 3rd quarter worth approximately $29,000. Western Wealth Management LLC purchased a new stake in shares of Flex in the 1st quarter worth approximately $65,000. Finally, Signature Equity Partners LLC grew its stake in shares of Flex by 56.3% in the 3rd quarter. Signature Equity Partners LLC now owns 605 shares of the technology company’s stock worth $67,000 after buying an additional 218 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Insider Activity at Flex

In other Flex news, insider Michael P. Hartung sold 2,755 shares of Flex stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $120.64, for a total value of $332,363.20. Following the completion of the sale, the insider owned 243,175 shares of the company’s stock, valued at approximately $29,336,632. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.62% of the company’s stock.

Key Stories Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Investors appear focused on Flex’s planned spin-off of Axiom Solutions International, which shareholders approved proposals to advance. The separation could sharpen the company’s exposure to cloud and power infrastructure, including AI-related demand. Flex and Axiom leaders are scheduled to present at the November 10 Innovation Day. Flex Jumps as Spin-Off Momentum and Growth Outlook Stay in Focus
• Positive Sentiment: Recent operating results support the growth story: Flex reported fiscal second-quarter sales of about $8.5 billion, up 25% year over year, and adjusted EPS of $1.18. The company also raised its full-year fiscal 2027 outlook for sales, margins, and adjusted earnings. Flex Jumps as Spin-Off Momentum and Growth Outlook Stay in Focus
• Negative Sentiment: The report also noted that Flex insiders made 138 open-market sales and no purchases over the past six months. This may weigh on sentiment, though insider sales alone do not establish the reason for the transactions or signal a change in the company’s outlook. Flex Jumps as Spin-Off Momentum and Growth Outlook Stay in Focus

Analyst Ratings Changes

A number of research firms recently weighed in on FLEX. Robert W. Baird reduced their price objective on Flex from $142.00 to $135.00 in a research report on Monday, October 19th. JPMorgan Chase & Co. dropped their target price on Flex from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Freedom Capital raised Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded Flex from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Finally, Raymond James Financial set a $170.00 price target on Flex and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $131.78.

Flex Trading Up 12.0%

NASDAQ:FLEX opened at $78.17 on Tuesday. The company’s 50 day moving average price is $101.70 and its 200-day moving average price is $103.21. Flex Ltd. has a 52 week low of $53.07 and a 52 week high of $166.86. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. The stock has a market cap of $28.88 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 0.36 and a beta of 1.80.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, October 28th. The technology company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.12. Flex had a net margin of 3.35% and a return on equity of 24.93%. The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.17 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, equities research analysts forecast that Flex Ltd. will post 4.52 earnings per share for the current fiscal year.

About Flex

Flex Ltd. is a global manufacturing and supply-chain services company that works with businesses to design, engineer, manufacture and support products. Its services include product development, sourcing, production, logistics and after-market support.

The company serves a range of industries, including automotive, healthcare, industrial, lifestyle and communications, as well as cloud and data-center markets. Its work spans products and systems such as medical devices, vehicle components, industrial equipment and technology infrastructure.

Founded in California in 1969 as Flextronics, the company adopted the name Flex in 2016.