Sequoia Financial Advisors LLC Has $11.62 Million Position in Flex Ltd. $FLEX

Sequoia Financial Advisors LLC increased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 2.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 177,497 shares of the technology company’s stock after buying an additional 4,220 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Flex were worth $11,619,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Flex by 196.1% during the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock worth $2,341,053,000 after acquiring an additional 25,662,586 shares in the last quarter. Norges Bank bought a new stake in shares of Flex in the fourth quarter worth $319,756,000. State Street Corp boosted its holdings in Flex by 38.0% during the second quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock worth $611,997,000 after purchasing an additional 3,377,669 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Flex by 694,916.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company’s stock worth $159,573,000 after purchasing an additional 2,640,682 shares during the last quarter. Finally, Polar Capital Holdings Plc grew its position in Flex by 141.8% in the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after purchasing an additional 2,165,780 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FLEX. Zacks Research cut shares of Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. The Goldman Sachs Group raised their price objective on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Stifel Nicolaus lifted their target price on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. upped their target price on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Finally, Barclays increased their price target on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Flex presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

Insiders Place Their Bets

In other news, insider Michael P. Hartung sold 22,627 shares of Flex stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total transaction of $3,269,148.96. Following the completion of the transaction, the insider directly owned 253,199 shares in the company, valued at approximately $36,582,191.52. The trade was a 8.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 26,657 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total value of $3,851,403.36. Following the transaction, the chief operating officer directly owned 257,527 shares in the company, valued at $37,207,500.96. The trade was a 9.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 769,195 shares of company stock worth $110,116,823 in the last three months. 0.62% of the stock is owned by corporate insiders.

Flex Stock Performance

FLEX stock traded down $4.14 during trading hours on Friday, reaching $135.80. The stock had a trading volume of 2,723,100 shares, compared to its average volume of 9,241,478. The stock has a 50-day simple moving average of $142.50 and a 200 day simple moving average of $93.60. Flex Ltd. has a fifty-two week low of $47.83 and a fifty-two week high of $166.86. The stock has a market capitalization of $49.75 billion, a PE ratio of 58.28, a price-to-earnings-growth ratio of 0.71 and a beta of 1.64. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87.

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

Flex Company 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.