Redhawk Wealth Advisors Inc. Has $5.17 Million Stock Holdings in Flex Ltd. $FLEX

Redhawk Wealth Advisors Inc. trimmed its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 13.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,868 shares of the technology company’s stock after selling 4,994 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Flex were worth $5,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after purchasing an additional 25,662,586 shares during the period. State Street Corp lifted its position in shares of Flex by 17.8% in the 4th quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock worth $849,235,000 after purchasing an additional 2,126,440 shares during the period. Geode Capital Management LLC lifted its position in shares of Flex by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock worth $459,829,000 after purchasing an additional 181,266 shares during the period. Norges Bank bought a new stake in shares of Flex in the 4th quarter valued at $319,756,000. Finally, Polar Capital Holdings Plc increased its position in shares of Flex by 141.8% during the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock worth $223,140,000 after buying an additional 2,165,780 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Flex news, EVP David Scott Offer sold 33,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the transaction, the executive vice president directly owned 73,471 shares in the company, valued at approximately $11,307,921.61. This trade represents a 30.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Revathi Advaithi sold 197,879 shares of Flex stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $144.32, for a total transaction of $28,557,897.28. Following the transaction, the chief executive officer directly owned 623,466 shares in the company, valued at $89,978,613.12. This represents a 24.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 563,183 shares of company stock worth $80,863,830 over the last three months. Company insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FLEX shares. The Goldman Sachs Group dropped their target price on shares of Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Robert W. Baird set a $142.00 price objective on Flex in a research report on Thursday, July 30th. JPMorgan Chase & Co. boosted their price objective on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Finally, Freedom Capital upgraded Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. One equities research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.20.

Flex Trading Down 1.4%

NASDAQ:FLEX opened at $119.70 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.89. Flex Ltd. has a one year low of $47.83 and a one year high of $166.86. The company has a market cap of $44.22 billion, a PE ratio of 46.22, a PEG ratio of 0.61 and a beta of 1.68. The firm has a 50-day moving average of $136.81 and a 200-day moving average of $102.39.

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

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.