Flex Ltd. $FLEX Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lessened its stake in Flex Ltd. (NASDAQ:FLEX) by 54.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,791 shares of the technology company’s stock after selling 50,069 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Flex were worth $4,597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FLEX. Sei Investments Co. lifted its position in shares of Flex by 52.2% during the first quarter. Sei Investments Co. now owns 2,230,622 shares of the technology company’s stock worth $146,016,000 after purchasing an additional 764,558 shares in the last quarter. KBC Group NV grew its stake in shares of Flex by 541.5% during the first quarter. KBC Group NV now owns 1,965,811 shares of the technology company’s stock valued at $128,682,000 after purchasing an additional 1,659,384 shares during the last quarter. Amundi grew its stake in shares of Flex by 15.5% during the first quarter. Amundi now owns 1,494,418 shares of the technology company’s stock valued at $97,825,000 after purchasing an additional 200,553 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Flex by 9.3% in the first quarter. Pacer Advisors Inc. now owns 1,294,132 shares of the technology company’s stock valued at $84,714,000 after purchasing an additional 109,992 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Flex by 5.9% in the first quarter. Swiss National Bank now owns 1,085,250 shares of the technology company’s stock valued at $71,040,000 after purchasing an additional 60,500 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 2,755 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $120.64, for a total value of $332,363.20. Following the transaction, the insider directly owned 243,175 shares in the company, valued at $29,336,632. This trade represents a 1.12% 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. 0.62% of the stock is currently owned by company insiders.

Flex Price Performance

Shares of FLEX stock opened at $76.55 on Friday. Flex Ltd. has a 52-week low of $53.07 and a 52-week high of $166.86. The stock has a market cap of $28.28 billion, a PE ratio of 29.56, a PEG ratio of 0.39 and a beta of 1.67. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 1.38. The firm’s 50 day moving average price is $108.70 and its two-hundred day moving average price is $119.28.

Flex (NASDAQ:FLEX) last released its earnings results on Friday, June 26th. The technology company reported $1.00 EPS for the quarter. The firm had revenue of $7.93 billion during the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. As a group, analysts forecast that Flex Ltd. will post 4.27 EPS for the current year.

Wall Street Analyst Weigh In

FLEX has been the subject of several research analyst reports. The Goldman Sachs Group dropped their price objective on shares of Flex from $154.00 to $145.00 in a research report on Friday, October 16th. Weiss Ratings downgraded Flex from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, September 17th. Raymond James Financial set a $170.00 price objective on Flex and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Robert W. Baird lowered their target price on Flex from $142.00 to $135.00 in a research note on Monday, October 19th. Finally, Zacks Research cut Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.33.

Flex Company Profile

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.