Flex Ltd. (NASDAQ:FLEX) Shares Sold by Raymond James & Associates

Raymond James & Associates decreased its stake in Flex Ltd. (NASDAQ:FLEXGet Rating) by 18.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 317,083 shares of the technology company’s stock after selling 70,690 shares during the quarter. Raymond James & Associates owned approximately 0.07% of Flex worth $5,283,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Toth Financial Advisory Corp acquired a new stake in shares of Flex in the third quarter valued at about $30,000. Assetmark Inc. lifted its stake in shares of Flex by 37.4% in the second quarter. Assetmark Inc. now owns 4,390 shares of the technology company’s stock worth $64,000 after buying an additional 1,195 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Flex in the second quarter worth about $82,769,000. Illinois Municipal Retirement Fund lifted its stake in shares of Flex by 68.3% in the second quarter. Illinois Municipal Retirement Fund now owns 103,871 shares of the technology company’s stock worth $1,503,000 after buying an additional 42,157 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Flex by 9.1% in the second quarter. Allianz Asset Management GmbH now owns 6,481,925 shares of the technology company’s stock worth $93,793,000 after buying an additional 543,262 shares in the last quarter. Institutional investors and hedge funds own 95.44% of the company’s stock.

Flex Price Performance

Shares of FLEX stock opened at $24.03 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.29 and a quick ratio of 0.65. The firm’s 50-day moving average is $21.36 and its two-hundred day moving average is $18.69. Flex Ltd. has a 12 month low of $13.63 and a 12 month high of $24.08. The company has a market capitalization of $10.88 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.06 and a beta of 1.45.

Flex (NASDAQ:FLEXGet Rating) last issued its earnings results on Wednesday, October 26th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. Flex had a net margin of 2.85% and a return on equity of 20.33%. The company had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.20 billion. Analysts predict that Flex Ltd. will post 1.77 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Flex from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th.

Insiders Place Their Bets

In other Flex news, insider Michael P. Hartung sold 44,898 shares of Flex stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $19.66, for a total transaction of $882,694.68. Following the completion of the sale, the insider now directly owns 143,105 shares in the company, valued at $2,813,444.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Charles K. Stevens III sold 20,000 shares of Flex stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $21.69, for a total value of $433,800.00. Following the completion of the transaction, the director now owns 52,380 shares in the company, valued at $1,136,122.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Hartung sold 44,898 shares of Flex stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $19.66, for a total transaction of $882,694.68. Following the completion of the transaction, the insider now owns 143,105 shares of the company’s stock, valued at approximately $2,813,444.30. The disclosure for this sale can be found here. Insiders have sold 84,730 shares of company stock valued at $1,734,074 over the last ninety days. Company insiders own 0.54% of the company’s stock.

Flex Profile

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Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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