Sumitomo Mitsui Trust Group Inc. Buys 713,105 Shares of Flex Ltd. $FLEX

Sumitomo Mitsui Trust Group Inc. grew its stake in Flex Ltd. (NASDAQ:FLEX) by 660.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 821,158 shares of the technology company’s stock after purchasing an additional 713,105 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Flex were worth $49,614,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. USA Financial Formulas bought a new position in shares of Flex in the 4th quarter valued at about $28,000. CENTRAL TRUST Co grew its holdings in shares of Flex by 238.3% in the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock valued at $29,000 after acquiring an additional 355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Flex in the 3rd quarter valued at about $52,000. Root Financial Partners LLC bought a new position in shares of Flex in the 3rd quarter valued at about $57,000. Finally, CI Investments Inc. grew its holdings in shares of Flex by 60.4% in the 3rd quarter. CI Investments Inc. now owns 1,022 shares of the technology company’s stock valued at $59,000 after acquiring an additional 385 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Flex Trading Down 2.1%

Shares of NASDAQ:FLEX opened at $78.43 on Thursday. Flex Ltd. has a 52-week low of $30.05 and a 52-week high of $80.33. The company has a market capitalization of $28.84 billion, a P/E ratio of 35.17, a price-to-earnings-growth ratio of 1.75 and a beta of 1.22. The company has a 50-day simple moving average of $66.07 and a 200 day simple moving average of $63.53. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.88 and a current ratio of 1.40.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FLEX. Weiss Ratings restated a “buy (b)” rating on shares of Flex in a report on Monday, December 29th. Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Robert W. Baird started coverage on shares of Flex in a research note on Thursday, March 12th. They issued an “outperform” rating and a $70.00 target price for the company. Zacks Research downgraded shares of Flex from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Barclays raised their target price on shares of Flex from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.10.

Insider Transactions at Flex

In other Flex news, 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 transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

About Flex

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.