Flex Ltd. $FLEX Shares Bought by Lido Advisors LLC

Lido Advisors LLC boosted its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 16.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 52,114 shares of the technology company’s stock after acquiring an additional 7,519 shares during the period. Lido Advisors LLC’s holdings in Flex were worth $5,732,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. increased its stake in shares of Flex by 52.2% during the first quarter. Sei Investments Co. now owns 2,230,622 shares of the technology company’s stock worth $146,016,000 after purchasing an additional 764,558 shares in the last quarter. KBC Group NV raised its position in shares of Flex by 541.5% during the 1st quarter. KBC Group NV now owns 1,965,811 shares of the technology company’s stock worth $128,682,000 after purchasing an additional 1,659,384 shares during the last quarter. Amundi lifted its stake in Flex by 15.5% in the 1st quarter. Amundi now owns 1,494,418 shares of the technology company’s stock valued at $97,825,000 after buying an additional 200,553 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Flex by 9.3% in the 1st quarter. Pacer Advisors Inc. now owns 1,294,132 shares of the technology company’s stock valued at $84,714,000 after buying an additional 109,992 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Flex by 5.9% in the 1st quarter. Swiss National Bank now owns 1,085,250 shares of the technology company’s stock worth $71,040,000 after buying an additional 60,500 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Price Performance

Shares of NASDAQ FLEX opened at $78.12 on Friday. The firm has a 50-day simple moving average of $99.92 and a 200-day simple moving average of $103.42. The stock has a market capitalization of $28.86 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 0.37 and a beta of 1.80. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.90. Flex Ltd. has a 52 week low of $53.07 and a 52 week high of $166.86.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, October 28th. The technology company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.12. The firm had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.17 billion. Flex had a net margin of 3.35% and a return on equity of 24.93%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period last year, the firm posted $0.79 earnings per share. On average, equities analysts predict that Flex Ltd. will post 4.52 earnings per share for the current fiscal year.

Latest Flex News

Investors following FLEX have been watching these news items:

• Positive Sentiment: Flex was highlighted as an AI-infrastructure company with attractive valuation and growth potential, alongside peers Super Micro Computer and Jabil. Zacks article
• Positive Sentiment: A Wall Street roundup described analysts as highly optimistic on Flex, noting the shares’ outperformance over the past year. Barchart article
• Neutral Sentiment: Flex’s Innovation Day coverage featured a technology showcase with Axiom, but the available headline does not specify financial or commercial outcomes. Innovation Day coverage

Wall Street Analyst Weigh In

FLEX has been the subject of several research reports. Robert W. Baird cut their price objective on Flex from $142.00 to $135.00 in a research note on Monday, October 19th. KeyCorp reduced their target price on Flex from $180.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday. The Goldman Sachs Group decreased their target price on Flex from $154.00 to $145.00 in a research report on Friday, October 16th. Bank of America lowered their price target on Flex from $180.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, October 27th. Finally, Raymond James Financial set a $170.00 price target on Flex and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Flex has a consensus rating of “Buy” and a consensus price target of $138.88.

Insider Buying and Selling

In other Flex news, insider Michael P. Hartung sold 2,755 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $120.64, for a total value of $332,363.20. Following the completion of the sale, the insider owned 243,175 shares in the company, valued at approximately $29,336,632. This represents a 1.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.62% of the company’s stock.

About Flex

Flex Ltd. is a global manufacturing and supply-chain services company that works with businesses to design, engineer, manufacture and support products. Its services include product development, sourcing, production, logistics and after-market support. The company serves a range of industries, including automotive, healthcare, industrial, lifestyle and communications, as well as cloud and data-center markets. Its work spans products and systems such as medical devices, vehicle components, industrial equipment and technology infrastructure.