Cetera Investment Advisers Sells 39,458 Shares of Flex Ltd. $FLEX

Cetera Investment Advisers trimmed its holdings in Flex Ltd. (NASDAQ:FLEX) by 27.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,528 shares of the technology company’s stock after selling 39,458 shares during the period. Cetera Investment Advisers’ holdings in Flex were worth $6,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. First Trust Advisors LP grew its position in shares of Flex by 58.3% in the 1st quarter. First Trust Advisors LP now owns 225,563 shares of the technology company’s stock valued at $14,765,000 after purchasing an additional 83,042 shares during the period. ABN Amro Investment Solutions acquired a new stake in Flex during the 1st quarter worth approximately $1,342,000. PNC Financial Services Group Inc. lifted its stake in Flex by 14.6% in the first quarter. PNC Financial Services Group Inc. now owns 38,251 shares of the technology company’s stock valued at $2,504,000 after buying an additional 4,873 shares in the last quarter. Andra AP fonden acquired a new position in shares of Flex in the first quarter valued at approximately $1,782,000. Finally, Glenview Trust Co boosted its holdings in shares of Flex by 3.4% in the first quarter. Glenview Trust Co now owns 3,775 shares of the technology company’s stock valued at $247,000 after buying an additional 125 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Flex

In other Flex news, COO Kwang Hooi Tan sold 8,981 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $145.19, for a total transaction of $1,303,951.39. Following the transaction, the chief operating officer owned 248,546 shares of the company’s stock, valued at $36,086,393.74. The trade was a 3.49% decrease in their position. The transaction was disclosed in a document filed 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, CAO Daniel Wendler sold 1,311 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.20, for a total value of $190,357.20. Following the completion of the sale, the chief accounting officer directly owned 37,932 shares of the company’s stock, valued at approximately $5,507,726.40. The trade was a 3.34% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 769,195 shares of company stock valued at $110,116,823 in the last ninety days. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on FLEX shares. The Goldman Sachs Group cut their price objective on shares of Flex from $177.00 to $154.00 and set a “buy” rating on the stock in a research report on Thursday. Stifel Nicolaus increased their target price on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Freedom Capital raised Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Raymond James Financial set a $170.00 price target on Flex and gave the company an “outperform” rating in a report on Wednesday. Finally, Barclays decreased their price objective on Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a report on Thursday. 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 company. Based on data from MarketBeat, Flex has an average rating of “Moderate Buy” and an average target price of $114.20.

Flex Stock Performance

Shares of FLEX stock opened at $113.75 on Friday. Flex Ltd. has a 12 month low of $47.83 and a 12 month high of $166.86. The company’s fifty day simple moving average is $139.51 and its 200-day simple moving average is $99.72. The firm has a market cap of $41.68 billion, a PE ratio of 43.92, a P/E/G ratio of 0.59 and a beta of 1.64. The company has a quick ratio of 0.87, a current ratio of 1.38 and a debt-to-equity ratio of 0.95.

Flex (NASDAQ:FLEX) last released its earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share for the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. The business had revenue of $7.93 billion during the quarter. Equities research analysts expect that Flex Ltd. will post 4.18 EPS for the current fiscal 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.