VestGen Advisors LLC lessened its stake in shares of Flex Ltd. (NASDAQ:FLEX – Free Report) by 77.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,768 shares of the technology company’s stock after selling 29,482 shares during the quarter. VestGen Advisors LLC’s holdings in Flex were worth $964,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its position in shares of Flex by 14.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 783 shares of the technology company’s stock valued at $86,000 after buying an additional 99 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Flex by 7.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,449 shares of the technology company’s stock valued at $223,000 after buying an additional 100 shares during the period. JSF Financial LLC boosted its position in Flex by 0.6% during the first quarter. JSF Financial LLC now owns 20,504 shares of the technology company’s stock worth $1,342,000 after acquiring an additional 115 shares during the last quarter. WealthPlan Investment Management LLC boosted its position in Flex by 5.3% during the third quarter. WealthPlan Investment Management LLC now owns 2,312 shares of the technology company’s stock worth $254,000 after acquiring an additional 116 shares during the last quarter. Finally, Glenview Trust Co boosted its position in Flex by 3.4% during the first quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock worth $247,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Flex from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Robert W. Baird reduced their price target on Flex from $142.00 to $135.00 in a research note on Monday, October 19th. Wall Street Zen upgraded Flex from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Freedom Capital upgraded Flex from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Flex presently has an average rating of “Moderate Buy” and a consensus target price of $131.78.
Read Our Latest Stock Report on FLEX
Insider Transactions at Flex
In other 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 transaction of $332,363.20. Following the transaction, the insider owned 243,175 shares of the company’s stock, valued at approximately $29,336,632. This trade represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.62% of the stock is owned by corporate insiders.
Flex Stock Down 7.1%
Shares of NASDAQ:FLEX opened at $86.48 on Friday. The stock has a 50-day simple moving average of $105.70 and a 200-day simple moving average of $102.84. The stock has a market capitalization of $31.95 billion, a P/E ratio of 31.22, a PEG ratio of 0.44 and a beta of 1.67. Flex Ltd. has a 1 year low of $53.07 and a 1 year high of $166.86. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.89 and a current ratio of 1.34.
Flex (NASDAQ:FLEX – Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The technology company reported $1.18 EPS 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 analyst estimates of $8.17 billion. Flex had a return on equity of 24.93% and a net margin of 3.35%. Flex’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 EPS. Equities analysts forecast that Flex Ltd. will post 4.27 earnings per share for the current year.
About Flex
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.
See Also
- Five stocks we like better than Flex
- Starbucks Says Its Turnaround Is Done—The Numbers Make a Strong Case (With 1 Catch)
- 3 Robotics ETFs, 3 Different Ways to Bet on Humanoid Robots
- Can Microsoft Turn a Leaner Workforce and Record AI Spending Into Bigger Profits?
- Why JFrog Could Be the Software Infrastructure Company to Beat in the AI Boom
Want to see what other hedge funds are holding FLEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flex Ltd. (NASDAQ:FLEX – Free Report).
Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.
