Evergreen Capital Management LLC Cuts Stake in Flex Ltd. $FLEX

Evergreen Capital Management LLC lessened its position in shares of Flex Ltd. (NASDAQ:FLEX) by 12.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,003 shares of the technology company’s stock after selling 3,095 shares during the period. Evergreen Capital Management LLC’s holdings in Flex were worth $695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLEX. Brighton Jones LLC acquired a new position in Flex during the 4th quarter worth approximately $260,000. Price T Rowe Associates Inc. MD grew its holdings in Flex by 4.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 177,589 shares of the technology company’s stock worth $6,819,000 after acquiring an additional 7,957 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Flex during the 4th quarter worth approximately $206,000. Beacon Pointe Advisors LLC acquired a new position in Flex during the 4th quarter worth approximately $317,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Flex by 889.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 244,142 shares of the technology company’s stock worth $9,375,000 after acquiring an additional 219,473 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Activity

In related news, insider Michael P. Hartung sold 2,520 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $49.62, for a total transaction of $125,042.40. Following the completion of the sale, the insider owned 301,198 shares in the company, valued at $14,945,444.76. This represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel Wendler sold 1,245 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total transaction of $56,037.45. Following the sale, the chief accounting officer owned 47,619 shares of the company’s stock, valued at approximately $2,143,331.19. This represents a 2.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 669,206 shares of company stock worth $29,253,069 over the last 90 days. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FLEX has been the subject of several analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Flex in a report on Friday, July 11th. Stifel Nicolaus upped their target price on shares of Flex from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, July 25th. Barclays upped their target price on shares of Flex from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Bank of America upped their target price on shares of Flex from $50.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, July 10th. Finally, KeyCorp upped their target price on shares of Flex from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, July 2nd. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.71.

Flex Stock Down 2.1%

Shares of NASDAQ:FLEX opened at $53.62 on Monday. The stock has a market cap of $20.12 billion, a P/E ratio of 23.52, a P/E/G ratio of 1.82 and a beta of 1.12. The firm has a fifty day moving average price of $50.97 and a 200 day moving average price of $42.16. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.36 and a quick ratio of 0.83. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $54.83.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.09. The firm had revenue of $6.58 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Flex had a net margin of 3.42% and a return on equity of 20.25%. Flex’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. Flex has set its FY 2026 guidance at 2.860-3.060 EPS. Q2 2026 guidance at 0.700-0.780 EPS. Sell-side analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Flex Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.