Flex Ltd. $FLEX Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. cut its position in shares of Flex Ltd. (NASDAQ:FLEX) by 54.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,791 shares of the technology company’s stock after selling 50,069 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Flex were worth $4,597,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rithm Capital Corp. bought a new stake in Flex in the 1st quarter valued at $1,407,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Flex in the 2nd quarter valued at $8,659,000. SteelPeak Wealth LLC bought a new position in shares of Flex during the 3rd quarter worth about $1,359,000. Andra AP fonden lifted its holdings in shares of Flex by 41.9% during the 2nd quarter. Andra AP fonden now owns 38,624 shares of the technology company’s stock worth $6,260,000 after acquiring an additional 11,400 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Flex by 5.9% during the 1st quarter. Swiss National Bank now owns 1,085,250 shares of the technology company’s stock worth $71,040,000 after acquiring an additional 60,500 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Performance

Flex stock opened at $76.55 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.89. The stock has a fifty day moving average price of $108.70 and a two-hundred day moving average price of $119.28. Flex Ltd. has a 52-week low of $53.07 and a 52-week high of $166.86. The firm has a market capitalization of $28.28 billion, a P/E ratio of 29.56, a P/E/G ratio of 0.39 and a beta of 1.67.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. Flex had a return on equity of 23.15% and a net margin of 3.32%. The company had revenue of $7.93 billion during the quarter. As a group, analysts anticipate that Flex Ltd. will post 4.27 EPS for the current fiscal year.

Insider Activity

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FLEX. Robert W. Baird decreased their target price on shares of Flex from $142.00 to $135.00 in a research report on Monday, October 19th. Wall Street Zen raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Zacks Research cut shares of Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. decreased their price objective on Flex from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Finally, Barclays lowered their price objective on Flex from $203.00 to $144.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $126.33.

Flex Company Profile

Flex Ltd. (NASDAQ: FLEX) is a global manufacturing and supply chain solutions provider. The company helps original equipment manufacturers design, engineer, manufacture, distribute and service products across their lifecycles.

Flex serves customers in industries including automotive, communications, consumer electronics, health care, industrial, lifestyle and cloud infrastructure. Its capabilities include product design and engineering, printed circuit board assembly, systems integration, supply chain management, logistics, and aftermarket services.

The company was founded in 1969 as Flextronics and later adopted the name Flex.