Tredje AP fonden Sells 6,196 Shares of Flex Ltd. $FLEX

Tredje AP fonden lessened its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 19.0% in the 4th quarter, according to its most recent disclosure with the 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 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Parallel Advisors LLC increased its holdings in Flex by 5.3% during the 3rd quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company’s stock worth $208,000 after purchasing an additional 181 shares during the period. Parcion Private Wealth LLC grew its position in shares of Flex by 1.5% during the 4th quarter. Parcion Private Wealth LLC now owns 14,159 shares of the technology company’s stock worth $855,000 after buying an additional 216 shares in the last quarter. US Bancorp DE increased its stake in shares of Flex by 1.2% during the third quarter. US Bancorp DE now owns 19,729 shares of the technology company’s stock valued at $1,144,000 after buying an additional 225 shares during the period. Modera Wealth Management LLC raised its holdings in shares of Flex by 3.4% in the third quarter. Modera Wealth Management LLC now owns 7,011 shares of the technology company’s stock valued at $406,000 after acquiring an additional 231 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in Flex by 7.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 3,594 shares of the technology company’s stock worth $208,000 after acquiring an additional 248 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

FLEX has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Barclays lifted their price objective on shares of Flex from $72.00 to $174.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Robert W. Baird set a $165.00 target price on Flex in a report on Thursday, May 7th. Finally, Stifel Nicolaus lifted their price target on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.80.

Flex Stock Up 4.1%

NASDAQ:FLEX opened at $131.52 on Thursday. The company has a market cap of $48.36 billion, a PE ratio of 56.45, a P/E/G ratio of 0.66 and a beta of 1.46. Flex Ltd. has a twelve month low of $40.15 and a twelve month high of $147.34. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average is $87.86 and its two-hundred day moving average is $71.72.

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

Insider Activity at Flex

In other Flex news, EVP David Scott Offer sold 22,212 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $142.40, for a total transaction of $3,162,988.80. Following the sale, the executive vice president owned 74,926 shares of the company’s stock, valued at approximately $10,669,462.40. The trade was a 22.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Erin Mcsweeney sold 3,000 shares of Flex stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $145.88, for a total transaction of $437,640.00. Following the sale, the director owned 11,512 shares of the company’s stock, valued at approximately $1,679,370.56. The trade was a 20.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 226,512 shares of company stock worth $30,720,858 in the last 90 days. 0.57% of the stock is 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.