Strs Ohio Sells 29,045 Shares of Flex Ltd. $FLEX

Strs Ohio cut its holdings in Flex Ltd. (NASDAQ:FLEX) by 76.5% during the third quarter, Holdings Channel.com reports. The fund owned 8,929 shares of the technology company’s stock after selling 29,045 shares during the period. Strs Ohio’s holdings in Flex were worth $518,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC bought a new position in shares of Flex in the 4th quarter worth $260,000. Goldman Sachs Group Inc. lifted its stake in Flex by 19.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock valued at $42,314,000 after buying an additional 211,046 shares during the period. Empowered Funds LLC bought a new position in Flex during the first quarter worth about $397,000. GC Wealth Management RIA LLC acquired a new position in shares of Flex during the 2nd quarter worth about $231,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Flex by 2.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 227,690 shares of the technology company’s stock valued at $11,366,000 after acquiring an additional 4,875 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Insider Activity at Flex

In other Flex news, Director Michael E. Hurlston sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the completion of the sale, the director owned 58,561 shares of the company’s stock, valued at $3,396,538. This trade represents a 14.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William D. Watkins sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the sale, the director owned 98,073 shares of the company’s stock, valued at approximately $5,346,939.96. This represents a 16.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 101,406 shares of company stock worth $6,129,539 in the last three months. 0.57% of the stock is owned by company insiders.

Flex Trading Down 3.7%

Shares of Flex stock opened at $63.04 on Friday. The stock has a market cap of $23.31 billion, a P/E ratio of 27.89, a P/E/G ratio of 1.73 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 1.33 and a debt-to-equity ratio of 0.60. Flex Ltd. has a 12-month low of $25.11 and a 12-month high of $72.22. The business’s 50 day moving average is $63.22 and its 200-day moving average is $58.81.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Argus set a $85.00 target price on shares of Flex in a report on Friday, October 31st. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. The Goldman Sachs Group boosted their target price on Flex from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Barclays dropped their price target on Flex from $78.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 price objective on shares of Flex in a research report on Wednesday, November 12th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.11.

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.