Mitsubishi UFJ Trust & Banking Corp Has $4.49 Million Stock Holdings in Flex Ltd. $FLEX

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Flex Ltd. (NASDAQ:FLEX) by 25.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,470 shares of the technology company’s stock after selling 26,962 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Flex were worth $4,491,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of FLEX. MTM Investment Management LLC acquired a new position in shares of Flex during the 2nd quarter worth $26,000. Concord Wealth Partners acquired a new position in Flex during the second quarter worth about $28,000. CNB Bank bought a new position in shares of Flex in the second quarter worth about $30,000. Harbour Investments Inc. lifted its holdings in shares of Flex by 74.7% in the second quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock worth $35,000 after acquiring an additional 301 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Flex by 404.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 706 shares of the technology company’s stock valued at $35,000 after purchasing an additional 566 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Activity at Flex

In related news, CFO Kevin Krumm sold 21,406 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $61.23, for a total value of $1,310,689.38. Following the sale, the chief financial officer directly owned 143,803 shares in the company, valued at $8,805,057.69. This represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael E. Hurlston sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 58,561 shares of the company’s stock, valued at approximately $3,396,538. The trade was a 14.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 101,406 shares of company stock valued at $6,129,539 over the last ninety days. Insiders own 0.57% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $65.47 on Friday. The company has a market capitalization of $24.21 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 1.75 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 twelve month low of $25.11 and a twelve month high of $72.22. The stock has a fifty day simple moving average of $63.07 and a 200 day simple moving average of $58.73.

Analyst Upgrades and Downgrades

FLEX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Flex from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Argus set a $85.00 target price on shares of Flex in a research note on Friday, October 31st. Barclays dropped their price target on Flex from $78.00 to $71.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Weiss Ratings restated a “buy (b)” rating on shares of Flex in a research report on Monday, December 29th. Finally, KeyCorp upped their target price on Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently 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.