Venturi Wealth Management LLC Sells 5,233 Shares of Flex Ltd. $FLEX

Venturi Wealth Management LLC lessened its stake in Flex Ltd. (NASDAQ:FLEX) by 44.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,540 shares of the technology company’s stock after selling 5,233 shares during the period. Venturi Wealth Management LLC’s holdings in Flex were worth $428,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. USA Financial Formulas bought a new position in Flex in the fourth quarter worth $28,000. Parkside Financial Bank & Trust raised its stake in shares of Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after buying an additional 166 shares in the last quarter. Frazier Financial Advisors LLC bought a new position in shares of Flex during the 4th quarter worth about $28,000. Gables Capital Management Inc. acquired a new stake in shares of Flex during the 4th quarter valued at about $42,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Flex by 6,318.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock valued at $43,000 after acquiring an additional 695 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Up 8.8%

NASDAQ FLEX opened at $159.56 on Tuesday. The stock’s 50 day simple moving average is $132.78 and its 200 day simple moving average is $89.09. Flex Ltd. has a one year low of $47.83 and a one year high of $166.86. The firm has a market cap of $58.46 billion, a PE ratio of 68.48, a price-to-earnings-growth ratio of 0.77 and a beta of 1.63. 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 posted its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The company had revenue of $7.48 billion for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. As a group, sell-side analysts forecast that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Insider Activity at Flex

In other news, insider Michael P. Hartung sold 22,627 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total transaction of $3,269,148.96. Following the sale, the insider directly owned 253,199 shares of the company’s stock, valued at $36,582,191.52. This represents a 8.20% decrease in their ownership of the stock. 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, COO Kwang Hooi Tan sold 26,657 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total transaction of $3,851,403.36. Following the completion of the sale, the chief operating officer directly owned 257,527 shares of the company’s stock, valued at approximately $37,207,500.96. This represents a 9.38% decrease in their position. 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 have sold 769,195 shares of company stock worth $110,116,823 in the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Robert W. Baird set a $165.00 price target on shares of Flex in a research report on Thursday, May 7th. The Goldman Sachs Group upped their price objective on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Stifel Nicolaus increased their price objective on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Flex currently has an average rating of “Moderate Buy” and a consensus price target of $115.70.

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.