Osaic Holdings Inc. Sells 14,310 Shares of Flex Ltd. $FLEX

Osaic Holdings Inc. lowered its holdings in Flex Ltd. (NASDAQ:FLEX) by 31.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,438 shares of the technology company’s stock after selling 14,310 shares during the period. Osaic Holdings Inc.’s holdings in Flex were worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Flex during the 2nd quarter worth approximately $291,362,000. State Street Corp boosted its stake in shares of Flex by 38.0% during the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after acquiring an additional 3,377,669 shares during the period. Geode Capital Management LLC raised its stake in Flex by 52.1% in the 2nd quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock valued at $358,500,000 after acquiring an additional 2,459,511 shares during the period. Alyeska Investment Group L.P. increased its holdings in shares of Flex by 73.6% in the first quarter. Alyeska Investment Group L.P. now owns 2,777,753 shares of the technology company’s stock valued at $91,888,000 after purchasing an additional 1,177,970 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Flex by 44.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,928,808 shares of the technology company’s stock valued at $146,206,000 after acquiring an additional 894,790 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Performance

NASDAQ:FLEX opened at $61.67 on Wednesday. The stock’s 50-day moving average is $62.40 and its 200-day moving average is $56.63. The stock has a market cap of $22.80 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $72.22. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60.

Insiders Place Their Bets

In other news, COO Kwang Hooi Tan sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $64.88, for a total value of $811,000.00. Following the transaction, the chief operating officer owned 251,136 shares in the company, valued at approximately $16,293,703.68. The trade was a 4.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William D. Watkins sold 20,000 shares of Flex stock in a transaction on Friday, November 21st. The stock was sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the transaction, the director directly owned 98,073 shares of the company’s stock, valued at $5,346,939.96. This represents a 16.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 107,500 shares of company stock valued at $6,593,750 over the last three months. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen lowered Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Argus set a $85.00 price target on Flex in a research report on Friday, October 31st. Bank of America upped their target price on Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. KeyCorp raised their price target on Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.88.

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.