Ionic Capital Management LLC Sells 12,000 Shares of Flex Ltd. $FLEX

Ionic Capital Management LLC trimmed its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 19.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 49,253 shares of the technology company’s stock after selling 12,000 shares during the quarter. Flex makes up about 0.3% of Ionic Capital Management LLC’s portfolio, making the stock its 9th biggest position. Ionic Capital Management LLC’s holdings in Flex were worth $2,855,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FLEX. Boston Partners lifted its stake in Flex by 3.5% during the second quarter. Boston Partners now owns 20,620,717 shares of the technology company’s stock valued at $1,029,769,000 after buying an additional 687,835 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Flex by 1.7% in the third quarter. Vanguard Group Inc. now owns 13,083,744 shares of the technology company’s stock worth $758,465,000 after acquiring an additional 221,819 shares in the last quarter. State Street Corp raised its holdings in shares of Flex by 38.0% during the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after acquiring an additional 3,377,669 shares during the period. Invesco Ltd. boosted its stake in Flex by 6.1% in the 2nd quarter. Invesco Ltd. now owns 8,871,601 shares of the technology company’s stock worth $442,870,000 after purchasing an additional 508,495 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Flex by 52.1% in the 2nd quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock worth $358,500,000 after purchasing an additional 2,459,511 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Stock Up 0.2%

Shares of FLEX stock opened at $63.44 on Monday. The stock’s 50 day simple moving average is $63.72 and its 200 day simple moving average is $61.58. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $72.22. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 1.40. The company has a market capitalization of $23.32 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.55 and a beta of 1.24.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Wednesday, February 4th. The technology company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.79 by $0.08. Flex had a return on equity of 20.99% and a net margin of 3.17%.The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $6.84 billion. During the same quarter last year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Flex has set its FY 2026 guidance at 3.210-3.270 EPS and its Q4 2026 guidance at 0.830-0.890 EPS. As a group, research analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on FLEX. Zacks Research downgraded shares of Flex from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Barclays lifted their price target on Flex from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. The Goldman Sachs Group raised their price objective on Flex from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Flex in a report on Monday, December 29th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Flex has a consensus rating of “Moderate Buy” and an average price target of $67.10.

Insider Transactions at Flex

In other news, CFO Kevin Krumm sold 21,406 shares of Flex stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total value of $1,310,689.38. Following the transaction, the chief financial officer directly owned 143,803 shares in the company, valued at approximately $8,805,057.69. The trade was a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Kwang Hooi Tan sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $58.87, for a total value of $1,030,225.00. Following the completion of the sale, the chief operating officer directly owned 233,636 shares in the company, valued at $13,754,151.32. This trade represents a 6.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.57% of the stock is owned by corporate insiders.

Flex Company 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.