CWA Asset Management Group LLC Has $331,000 Stock Position in Flex Ltd. (NASDAQ:FLEX)

CWA Asset Management Group LLC lowered its stake in Flex Ltd. (NASDAQ:FLEX) by 36.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,001 shares of the technology company’s stock after selling 5,707 shares during the quarter. CWA Asset Management Group LLC’s holdings in Flex were worth $331,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Evergreen Capital Management LLC increased its position in shares of Flex by 1.0% during the 4th quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company’s stock worth $925,000 after purchasing an additional 246 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Flex by 2.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company’s stock worth $488,000 after purchasing an additional 266 shares during the last quarter. Sage Rhino Capital LLC increased its stake in shares of Flex by 1.1% during the 4th quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company’s stock worth $1,358,000 after purchasing an additional 374 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Flex by 0.4% during the 4th quarter. Arizona State Retirement System now owns 115,236 shares of the technology company’s stock worth $4,424,000 after purchasing an additional 403 shares during the last quarter. Finally, Park Avenue Securities LLC increased its stake in shares of Flex by 1.8% during the 1st quarter. Park Avenue Securities LLC now owns 24,916 shares of the technology company’s stock worth $824,000 after purchasing an additional 432 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FLEX. Barclays boosted their price target on Flex from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. decreased their target price on Flex from $52.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. KeyCorp reiterated an “overweight” rating on shares of Flex in a report on Tuesday, June 3rd. Bank of America upped their price target on shares of Flex from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Finally, Wall Street Zen upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 28th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $46.00.

Insider Buying and Selling

In related news, CEO Revathi Advaithi sold 37,465 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total transaction of $1,686,299.65. Following the sale, the chief executive officer now owns 1,363,312 shares in the company, valued at approximately $61,362,673.12. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Daniel Wendler sold 4,502 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total transaction of $189,038.98. Following the sale, the chief accounting officer now owns 38,676 shares in the company, valued at $1,624,005.24. This represents a 10.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,135,941 shares of company stock valued at $47,582,965 over the last 90 days. 0.82% of the stock is owned by corporate insiders.

Flex Trading Down 0.3%

FLEX stock opened at $46.03 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.79 and a current ratio of 1.30. The company’s 50-day simple moving average is $39.44 and its 200 day simple moving average is $38.52. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $46.90. The company has a market capitalization of $17.18 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04.

Flex (NASDAQ:FLEX) last announced its earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. Flex had a net margin of 3.25% and a return on equity of 19.01%. The firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same quarter in the prior year, the business posted $0.57 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.