Affinity Wealth Management LLC Trims Holdings in Flex Ltd. $FLEX

Affinity Wealth Management LLC trimmed its position in Flex Ltd. (NASDAQ:FLEX) by 1.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 100,739 shares of the technology company’s stock after selling 1,002 shares during the quarter. Flex makes up about 0.8% of Affinity Wealth Management LLC’s holdings, making the stock its 28th largest holding. Affinity Wealth Management LLC’s holdings in Flex were worth $5,029,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FLEX. Invesco Ltd. increased its holdings in Flex by 55.0% in the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company’s stock worth $276,652,000 after acquiring an additional 2,968,285 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Flex by 3,794.6% in the 1st quarter. Pacer Advisors Inc. now owns 2,900,133 shares of the technology company’s stock worth $95,936,000 after acquiring an additional 2,825,667 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in Flex by 73.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,777,753 shares of the technology company’s stock worth $91,888,000 after acquiring an additional 1,177,970 shares in the last quarter. Wellington Management Group LLP increased its holdings in Flex by 4.8% in the 1st quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company’s stock worth $719,232,000 after acquiring an additional 996,276 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in Flex by 16.7% in the 1st quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company’s stock worth $159,243,000 after acquiring an additional 690,611 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Kwang Hooi Tan sold 12,500 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $50.25, for a total transaction of $628,125.00. Following the sale, the chief operating officer owned 263,636 shares in the company, valued at approximately $13,247,709. This represents a 4.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William D. Watkins sold 10,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $51.79, for a total value of $517,900.00. Following the sale, the director owned 111,355 shares in the company, valued at $5,767,075.45. The trade was a 8.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,020 shares of company stock worth $4,923,667. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FLEX has been the subject of several recent analyst reports. Bank of America upped their price target on Flex from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, July 10th. Stifel Nicolaus upped their price target on Flex from $45.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. KeyCorp upped their price target on Flex from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 2nd. Barclays upped their price target on Flex from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Finally, Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 13th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.71.

Flex Stock Down 2.9%

NASDAQ FLEX opened at $57.58 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.36. The company has a market capitalization of $21.61 billion, a P/E ratio of 25.25, a P/E/G ratio of 2.02 and a beta of 1.13. Flex Ltd. has a one year low of $25.11 and a one year high of $59.76. The stock has a 50 day moving average price of $53.20 and a 200-day moving average price of $44.33.

Flex (NASDAQ:FLEX) last posted its earnings results on Thursday, July 24th. The technology company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.09. The firm had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $6.27 billion. Flex had a return on equity of 20.25% and a net margin of 3.42%.The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company 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. As a group, equities analysts predict that Flex Ltd. will post 2.33 EPS for the current fiscal 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.