Tredje AP fonden Trims Position in Flex Ltd. $FLEX

Tredje AP fonden cut its position in Flex Ltd. (NASDAQ:FLEX) by 19.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,434 shares of the technology company’s stock after selling 6,196 shares during the period. Tredje AP fonden’s holdings in Flex were worth $1,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FLEX. USA Financial Formulas purchased a new stake in shares of Flex in the fourth quarter worth $28,000. CENTRAL TRUST Co grew its stake in Flex by 238.3% during the third 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. Gables Capital Management Inc. purchased a new position in Flex during the fourth quarter valued at $42,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Flex during the third quarter valued at $52,000. Finally, Root Financial Partners LLC purchased a new position in Flex during the third quarter valued at $57,000. 94.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on FLEX shares. Robert W. Baird set a $165.00 target price on shares of Flex in a research note on Thursday, May 7th. The Goldman Sachs Group raised their target price on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Finally, Raymond James Financial set a $80.00 target price on shares of Flex and gave the company an “outperform” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Flex has a consensus rating of “Moderate Buy” and a consensus target price of $112.80.

Flex Stock Performance

Shares of NASDAQ:FLEX opened at $131.52 on Thursday. Flex Ltd. has a 52 week low of $40.15 and a 52 week high of $147.34. The stock has a market capitalization of $48.36 billion, a P/E ratio of 56.45, a PEG ratio of 0.66 and a beta of 1.46. The firm has a fifty day simple moving average of $87.86 and a two-hundred day simple moving average of $71.72. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The business had revenue of $7.48 billion during the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. On average, analysts expect that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Insider Transactions at Flex

In other news, insider Michael P. Hartung sold 22,216 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $142.38, for a total value of $3,163,114.08. Following the completion of the sale, the insider owned 232,706 shares in the company, valued at approximately $33,132,680.28. This trade represents a 8.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 114,090 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $142.37, for a total transaction of $16,242,993.30. Following the completion of the sale, the chief executive officer owned 689,022 shares of the company’s stock, valued at $98,096,062.14. This trade represents a 14.21% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 226,512 shares of company stock worth $30,720,858. 0.57% of the stock is currently owned by insiders.

Flex Company 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.