Robeco Institutional Asset Management B.V. Sells 10,590 Shares of Flex Ltd. $FLEX

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 382,348 shares of the technology company’s stock after selling 10,590 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.10% of Flex worth $22,165,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FLEX. Hilltop National Bank bought a new position in Flex during the 2nd quarter worth about $351,000. Voya Investment Management LLC lifted its position in shares of Flex by 16.7% in the 1st quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company’s stock worth $159,243,000 after purchasing an additional 690,611 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Flex by 16.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company’s stock valued at $103,714,000 after buying an additional 453,455 shares during the period. Sowell Financial Services LLC increased its holdings in Flex by 220.6% during the third quarter. Sowell Financial Services LLC now owns 24,891 shares of the technology company’s stock valued at $1,443,000 after buying an additional 17,128 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in Flex by 27.1% during the second quarter. Prudential Financial Inc. now owns 189,280 shares of the technology company’s stock worth $9,449,000 after buying an additional 40,330 shares during the period. 94.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Michael E. Hurlston sold 10,000 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the transaction, the director owned 58,561 shares of the company’s stock, valued at approximately $3,396,538. This represents a 14.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael P. Hartung sold 15,000 shares of Flex stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $62.21, for a total value of $933,150.00. Following the completion of the transaction, the insider directly owned 211,198 shares of the company’s stock, valued at approximately $13,138,627.58. This represents a 6.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 107,500 shares of company stock valued at $6,593,750 over the last quarter. 0.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FLEX has been the topic of a number of analyst reports. Zacks Research downgraded Flex from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 target price on shares of Flex in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Flex in a research report on Monday, December 29th. Bank of America boosted their price objective on shares of Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Argus set a $85.00 price target on shares of Flex in a report on Friday, October 31st. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.88.

Flex Price Performance

Shares of FLEX opened at $60.38 on Friday. The firm has a 50-day simple moving average of $62.03 and a two-hundred day simple moving average of $57.25. The stock has a market cap of $22.33 billion, a PE ratio of 26.72, a P/E/G ratio of 1.63 and a beta of 1.24. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $72.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83.

Flex 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.