Thrivent Financial for Lutherans Sells 91,162 Shares of Flex Ltd. (NASDAQ:FLEX)

Thrivent Financial for Lutherans lowered its stake in Flex Ltd. (NASDAQ:FLEX – Get Rating) by 55.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 72,438 shares of the technology company’s stock after selling 91,162 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Flex were worth $1,554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Invesco Ltd. lifted its position in Flex by 119.3% in the first quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company’s stock valued at $195,729,000 after purchasing an additional 5,741,044 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Flex by 0.5% during the second quarter. Macquarie Group Ltd. now owns 7,738,381 shares of the technology company’s stock valued at $111,975,000 after acquiring an additional 35,557 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Flex by 19.0% during the third quarter. BlackRock Inc. now owns 6,762,532 shares of the technology company’s stock valued at $112,664,000 after acquiring an additional 1,077,354 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Flex by 0.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,762,349 shares of the technology company’s stock valued at $96,001,000 after acquiring an additional 42,284 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Flex by 4.8% during the first quarter. State Street Corp now owns 4,799,480 shares of the technology company’s stock valued at $89,030,000 after acquiring an additional 220,542 shares in the last quarter. Institutional investors own 95.44% of the company’s stock.

Insider Transactions at Flex

In related news, Director Erin Mcsweeney sold 10,000 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $20.60, for a total transaction of $206,000.00. Following the sale, the director now directly owns 29,309 shares of the company’s stock, valued at $603,765.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Daniel Wendler sold 1,512 shares of the stock in a transaction on Friday, March 10th. The stock was sold at an average price of $21.95, for a total transaction of $33,188.40. Following the sale, the chief accounting officer now directly owns 18,266 shares of the company’s stock, valued at $400,938.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Erin Mcsweeney sold 10,000 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $20.60, for a total value of $206,000.00. Following the completion of the transaction, the director now directly owns 29,309 shares in the company, valued at approximately $603,765.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,216 shares of company stock valued at $579,973. Insiders own 0.54% of the company’s stock.

Flex Trading Up 0.5 %

NASDAQ FLEX opened at $24.30 on Friday. Flex Ltd. has a 12 month low of $13.63 and a 12 month high of $25.12. The stock has a market cap of $10.96 billion, a P/E ratio of 14.21, a P/E/G ratio of 0.87 and a beta of 1.46. The stock’s fifty day moving average price is $21.52 and its 200-day moving average price is $22.01. The company has a current ratio of 1.36, a quick ratio of 0.68 and a debt-to-equity ratio of 0.78.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup upped their target price on Flex from $23.00 to $28.00 and gave the company a “buy” rating in a report on Friday, January 27th. StockNews.com began coverage on Flex in a research note on Thursday. They issued a “hold” rating on the stock.

About Flex

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Flex Ltd. operates as a manufacturing services company. It delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets. The firm operates through the following segments: Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The Flex Agility Solutions segment comprised of Communications, Enterprise and Cloud (CEC) includes data infrastructure, edge infrastructure and communications infrastructure, Lifestyle includes appliances, consumer packaging, floorcare, micro mobility and audio and, Consumer Devices include mobile and high velocity consumer devices.