Gateway Investment Advisers LLC Has $3.10 Million Holdings in Flex Ltd. $FLEX

Gateway Investment Advisers LLC grew its position in Flex Ltd. (NASDAQ:FLEX) by 10.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,315 shares of the technology company’s stock after purchasing an additional 4,660 shares during the period. Gateway Investment Advisers LLC’s holdings in Flex were worth $3,100,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FLEX. USA Financial Formulas acquired a new position in Flex in the 4th quarter worth about $28,000. CENTRAL TRUST Co increased its position in Flex by 238.3% in the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after purchasing an additional 355 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Flex during the 3rd quarter valued at about $52,000. Root Financial Partners LLC acquired a new position in shares of Flex during the 3rd quarter valued at about $57,000. Finally, CI Investments Inc. increased its holdings in shares of Flex by 60.4% during 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 during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Charles K. Stevens III sold 15,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the completion of the sale, the director directly owned 45,426 shares of the company’s stock, valued at $6,275,147.64. This trade represents a 24.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kwang Hooi Tan sold 17,500 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $58.87, for a total value of $1,030,225.00. Following the sale, the chief operating officer directly owned 233,636 shares of the company’s stock, valued at $13,754,151.32. This represents a 6.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

FLEX has been the topic of a number of analyst reports. KeyCorp increased their price objective on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday. Raymond James Financial set a $80.00 price objective on Flex and gave the company an “outperform” rating in a report on Wednesday, February 4th. The Goldman Sachs Group increased their price objective on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Finally, JPMorgan Chase & Co. increased their target price on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Flex presently has an average rating of “Moderate Buy” and a consensus target price of $112.80.

Flex Trading Up 6.9%

Shares of FLEX opened at $142.17 on Friday. Flex Ltd. has a 1 year low of $38.30 and a 1 year high of $142.59. The company has a current ratio of 1.36, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. The stock has a 50 day simple moving average of $74.45 and a 200-day simple moving average of $67.03. The stock has a market cap of $52.27 billion, a PE ratio of 61.02, a PEG ratio of 2.86 and a beta of 1.46.

Flex (NASDAQ:FLEX) last issued its earnings results on Tuesday, May 5th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.06. Flex had a return on equity of 22.12% and a net margin of 3.15%.The business had revenue of $7.48 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same period in the prior year, the firm posted $0.73 EPS. Flex’s quarterly revenue was up 17.2% compared to the same quarter last year. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. On average, sell-side analysts predict that Flex Ltd. will post 3.31 EPS for the current fiscal year.

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.