Saudi Central Bank Has $4.17 Million Holdings in Flex Ltd. $FLEX

Saudi Central Bank increased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 88.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,737 shares of the technology company’s stock after buying an additional 12,088 shares during the quarter. Saudi Central Bank’s holdings in Flex were worth $4,171,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FLEX. State Street Corp raised its stake in Flex by 17.8% during the fourth quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock worth $849,235,000 after acquiring an additional 2,126,440 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Flex by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock valued at $459,829,000 after purchasing an additional 181,266 shares in the last quarter. Norges Bank bought a new stake in shares of Flex in the 4th quarter worth about $319,756,000. Polar Capital Holdings Plc increased its position in shares of Flex by 141.8% during the 4th quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after purchasing an additional 2,165,780 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Flex by 3.3% during the 4th quarter. Northern Trust Corp now owns 3,197,827 shares of the technology company’s stock valued at $193,213,000 after purchasing an additional 101,218 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their price target on shares of Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Robert W. Baird set a $142.00 price objective on shares of Flex in a report on Thursday, July 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flex in a research note on Friday, July 17th. Barclays reduced their target price on Flex from $203.00 to $144.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Finally, Zacks Research cut Flex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. One 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 company’s stock. According to MarketBeat.com, Flex has a consensus rating of “Moderate Buy” and an average target price of $114.20.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $109.51 on Monday. Flex Ltd. has a 12 month low of $53.07 and a 12 month high of $166.86. The company’s 50-day moving average price is $122.84 and its two-hundred day moving average price is $109.12. The company has a quick ratio of 0.89, a current ratio of 1.38 and a debt-to-equity ratio of 0.95. The firm has a market cap of $40.45 billion, a P/E ratio of 42.28 and a beta of 1.67.

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

Insiders Place Their Bets

In other news, CAO Daniel Wendler sold 1,311 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $145.20, for a total transaction of $190,357.20. Following the completion of the sale, the chief accounting officer owned 37,932 shares in the company, valued at $5,507,726.40. The trade was a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 39,188 shares of the company’s stock in a transaction 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 transaction, the chief executive officer directly owned 584,278 shares in the company, valued at $84,825,480.04. This trade represents a 6.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 426,938 shares of company stock valued at $61,941,083 over the last quarter. Company insiders own 0.62% of the company’s stock.

Flex News Summary

Here are the key news stories impacting Flex this week:

• Positive Sentiment: AI data-center and grid exposure: EPC Power designs power-conversion systems for data centers, utility-scale energy storage and microgrids. Its grid-forming technology and support for next-generation 800-volt data-center architectures could allow Flex to benefit from rising AI infrastructure and electricity-demand investment. Flex to Acquire EPC Power
• Positive Sentiment: Strategic expansion: Management plans to incorporate EPC Power into Flex’s upcoming spin-off, potentially creating a more focused power-infrastructure business and highlighting the value of the acquired assets. Flex Buys EPC Power
• Neutral Sentiment: Large transaction to assess: The $4.4 billion purchase is a major expansion for Flex. Investors will likely focus on the deal’s funding, integration progress, contribution to earnings and how the business will be structured within the planned spin-off. Flex to Acquire EPC Power
• Neutral Sentiment: Investor engagement: Flex leadership is scheduled to participate in the Goldman Sachs Communacopia + Technology Conference, providing an opportunity for management to discuss the acquisition and its AI infrastructure strategy. Flex Investor Conference
• Neutral Sentiment: Valuation support: Zacks highlighted Flex as a potential long-term value stock based on its style-score framework, which may reinforce positive sentiment but does not represent a new operating or earnings update. Why Flex Is a Top Value Stock
• Neutral Sentiment: Legal update: A trade-secret lawsuit involving Flex is reportedly moving toward resolution, but the available report does not indicate a material financial impact. Flex Trade Secret Suit

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.