Electron Capital Partners LLC Acquires New Position in Flex Ltd. $FLEX

Electron Capital Partners LLC acquired a new position in shares of Flex Ltd. (NASDAQ:FLEX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 948,159 shares of the technology company’s stock, valued at approximately $57,288,000. Flex makes up about 2.7% of Electron Capital Partners LLC’s holdings, making the stock its 15th largest position. Electron Capital Partners LLC owned about 0.26% of Flex as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in FLEX. USA Financial Formulas purchased a new stake in shares of Flex during the 4th quarter worth approximately $28,000. Frazier Financial Advisors LLC purchased a new position in Flex in the 4th quarter valued at approximately $28,000. Parkside Financial Bank & Trust raised its holdings in Flex by 57.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after purchasing an additional 166 shares during the last quarter. Gables Capital Management Inc. purchased a new stake in Flex during the fourth quarter worth $42,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Flex by 6,318.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock valued at $43,000 after purchasing an additional 695 shares during the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FLEX. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Robert W. Baird set a $165.00 target price on Flex in a report on Thursday, May 7th. Barclays upped their price objective on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Finally, KeyCorp boosted their target price on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.70.

Key Headlines Impacting Flex

Here are the key news stories impacting Flex this week:

• Neutral Sentiment: CEO Revathi Advaithi sold 39,239 shares, a 6.48% reduction in her holdings, in a transaction valued at about $5.8 million; the filing says the sale was to cover tax withholding obligations. SEC filing
• Neutral Sentiment: CFO Kevin Krumm sold 3,378 shares, and COO Kwang Hooi Tan sold 10,540 shares, both describing the trades as tax-related equity award withholding rather than a change in business outlook. SEC filing
• Neutral Sentiment: EVP David Scott Offer sold shares in two transactions, including one under a Rule 10b5-1 plan, which may reduce concern about timing but still adds to the overall insider-selling narrative. SEC filing
• Neutral Sentiment: Other insider sales came from COO Kwang Hooi Tan, insider Michael P. Hartung, and CAO Daniel Wendler, all similarly framed as equity-compensation-related selling. SEC filing

Insider Transactions at Flex

In other Flex news, CFO Kevin Krumm sold 3,378 shares of Flex stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $148.01, for a total value of $499,977.78. Following the completion of the sale, the chief financial officer owned 151,280 shares in the company, valued at $22,390,952.80. The trade was a 2.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 10,540 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $148.02, for a total transaction of $1,560,130.80. Following the transaction, the chief operating officer directly owned 235,602 shares of the company’s stock, valued at approximately $34,873,808.04. This represents a 4.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 433,924 shares of company stock worth $61,663,653 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Flex Trading Down 2.6%

Shares of FLEX opened at $143.13 on Thursday. Flex Ltd. has a fifty-two week low of $45.31 and a fifty-two week high of $166.86. The company has a market capitalization of $52.44 billion, a PE ratio of 61.43, a price-to-earnings-growth ratio of 0.77 and a beta of 1.64. The stock has a fifty day moving average of $120.56 and a two-hundred day moving average of $83.95. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36.

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

About Flex

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.