Entropy Technologies LP Has $5.31 Million Stock Position in Flex Ltd. $FLEX

Entropy Technologies LP increased its position in Flex Ltd. (NASDAQ:FLEX) by 50.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,883 shares of the technology company’s stock after purchasing an additional 29,336 shares during the quarter. Entropy Technologies LP’s holdings in Flex were worth $5,310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Flex by 196.1% during the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after buying an additional 25,662,586 shares during the last quarter. Norges Bank bought a new position in Flex during the fourth quarter worth about $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Flex during the fourth quarter worth about $2,497,000. Sequoia Financial Advisors LLC boosted its holdings in Flex by 12.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company’s stock worth $10,469,000 after buying an additional 19,270 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Flex by 62.3% during the fourth quarter. Teacher Retirement System of Texas now owns 340,389 shares of the technology company’s stock worth $20,566,000 after buying an additional 130,641 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Flex news, Director Charles K. Stevens III sold 15,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 45,426 shares of the company’s stock, valued at $6,275,147.64. This represents a 24.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Revathi Advaithi sold 114,090 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $142.37, for a total value of $16,242,993.30. Following the transaction, the chief executive officer directly owned 689,022 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders have sold 345,012 shares of company stock worth $48,508,103. 0.57% of the stock is currently owned by insiders.

Flex Trading Down 1.5%

NASDAQ:FLEX opened at $149.71 on Friday. Flex Ltd. has a fifty-two week low of $42.83 and a fifty-two week high of $166.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The stock has a market capitalization of $54.85 billion, a PE ratio of 64.25, a price-to-earnings-growth ratio of 0.79 and a beta of 1.64. The business’s 50-day simple moving average is $115.87 and its 200-day simple moving average is $81.91.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FLEX shares. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price objective on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. The Goldman Sachs Group lifted their price objective on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Stifel Nicolaus lifted their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Barclays lifted their price objective on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. One investment 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 stock. According to MarketBeat, Flex presently has an average rating of “Moderate Buy” and a consensus target price of $115.70.

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.