Raiffeisen Bank International AG Decreases Stake in Flex Ltd. $FLEX

Raiffeisen Bank International AG decreased its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 36.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 136,740 shares of the technology company’s stock after selling 78,640 shares during the quarter. Raiffeisen Bank International AG’s holdings in Flex were worth $21,818,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLEX. Brighton Jones LLC purchased a new position in Flex in the 4th quarter worth approximately $260,000. Goldman Sachs Group Inc. boosted its stake in Flex by 19.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after buying an additional 211,046 shares during the last quarter. Empowered Funds LLC purchased a new stake in Flex in the 1st quarter valued at $397,000. EverSource Wealth Advisors LLC increased its stake in shares of Flex by 63.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock worth $132,000 after acquiring an additional 1,031 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Flex by 92.4% during the 2nd quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock valued at $3,099,000 after acquiring an additional 29,821 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Revathi Advaithi sold 39,188 shares of Flex stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.18, for a total value of $5,689,313.84. Following the completion of the transaction, the chief executive officer owned 584,278 shares in the company, valued at $84,825,480.04. The trade was a 6.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Offer sold 6,657 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $145.23, for a total transaction of $966,796.11. Following the transaction, the executive vice president owned 91,122 shares of the company’s stock, valued at $13,233,648.06. This trade represents a 6.81% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 426,938 shares of company stock worth $61,941,083 over the last ninety days. Company insiders own 0.62% of the company’s stock.

Flex Stock Performance

Shares of FLEX stock opened at $107.89 on Friday. The firm has a 50 day moving average of $123.58 and a two-hundred day moving average of $108.80. The stock has a market capitalization of $39.85 billion, a PE ratio of 41.66, a P/E/G ratio of 0.53 and a beta of 1.67. The company has a quick ratio of 0.89, a current ratio of 1.38 and a debt-to-equity ratio of 0.95. Flex Ltd. has a 52 week low of $53.07 and a 52 week high of $166.86.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. The business had revenue of $7.93 billion for the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%. On average, research analysts predict that Flex Ltd. will post 4.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FLEX. Barclays reduced their price objective on shares of Flex from $203.00 to $144.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. The Goldman Sachs Group decreased their price objective on shares of Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flex in a report on Friday, July 17th. KeyCorp boosted their target price on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Raymond James Financial set a $170.00 price objective on Flex and gave the company an “outperform” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Flex has a consensus rating of “Moderate Buy” and a consensus price target of $114.20.

Flex News Summary

Here are the key news stories impacting Flex this week:

• Positive Sentiment: The acquisition adds EPC Power’s software-defined power-conversion technology, including grid-forming systems used in data centers, utility-scale energy storage and microgrids. Flex said the deal strengthens its Cloud and Power Infrastructure business and positions it for demand related to AI workloads and emerging 800-volt data-center architectures. Flex to acquire EPC Power in $4.4 billion deal
• Positive Sentiment: Flex plans to fold EPC Power into an upcoming spin-off, which could give the transaction a clearer path to value creation and make the combined power-infrastructure assets more attractive to investors. Flex Buys EPC Power in $4.4B Deal, Plans to Fold Into Upcoming Spin Off
• Neutral Sentiment: The $4.4 billion purchase is substantial relative to Flex’s size. Investors will likely focus on how the deal is financed, its effect on leverage and earnings, and whether Flex can successfully integrate EPC Power while executing the planned spin-off. Flex to Acquire EPC Power
• Neutral Sentiment: Flex leadership is scheduled to participate in the Goldman Sachs Communacopia + Technology Conference, potentially providing additional details on the acquisition, AI infrastructure demand and the company’s strategic outlook. Flex to Participate in Upcoming Investor Conference
• Neutral Sentiment: A trade-secret lawsuit involving Flex is reportedly moving toward resolution, but the available report does not indicate a settlement, financial charge or other definitive outcome. Flex trade secret suit inches toward resolution

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.