Genus Capital Management Inc. Decreases Position in Flex Ltd. $FLEX

Genus Capital Management Inc. lessened its holdings in Flex Ltd. (NASDAQ:FLEX) by 85.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,218 shares of the technology company’s stock after selling 91,547 shares during the quarter. Genus Capital Management Inc.’s holdings in Flex were worth $919,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new position in Flex in the 4th quarter worth $28,000. Frazier Financial Advisors LLC purchased a new position in Flex in the 4th quarter worth $28,000. CENTRAL TRUST Co raised its position in Flex by 238.3% in the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after purchasing an additional 355 shares during the period. Gables Capital Management Inc. purchased a new position in Flex in the 4th quarter worth $42,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Flex in the 3rd quarter worth $52,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Activity at Flex

In related news, CEO Revathi Advaithi sold 114,090 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $142.37, for a total transaction of $16,242,993.30. Following the transaction, the chief executive officer owned 689,022 shares in the company, valued at $98,096,062.14. The trade was a 14.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 26,175 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $142.37, for a total transaction of $3,726,534.75. Following the transaction, the chief operating officer owned 256,043 shares in the company, valued at $36,452,841.91. This represents a 9.27% 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 226,512 shares of company stock valued at $30,720,858 over the last three months. Corporate insiders own 0.57% of the company’s stock.

Flex Price Performance

FLEX stock opened at $132.47 on Tuesday. The firm’s 50-day moving average price is $92.02 and its two-hundred day moving average price is $73.18. Flex Ltd. has a 12-month low of $40.15 and a 12-month high of $147.34. The stock has a market capitalization of $48.53 billion, a price-to-earnings ratio of 56.85, a PEG ratio of 0.70 and a beta of 1.46. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FLEX shares. JPMorgan Chase & Co. lifted their target price on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th. Raymond James Financial set a $80.00 price objective on shares of Flex and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Barclays boosted their price objective on shares of Flex from $72.00 to $174.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $112.80.

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.