Flex Ltd. $FLEX Shares Sold by Stephens Inc. AR

Stephens Inc. AR lowered its stake in Flex Ltd. (NASDAQ:FLEX) by 13.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,927 shares of the technology company’s stock after selling 1,707 shares during the period. Stephens Inc. AR’s holdings in Flex were worth $545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP raised its position in shares of Flex by 4.8% during the 1st quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company’s stock worth $719,232,000 after acquiring an additional 996,276 shares in the last quarter. Invesco Ltd. grew its stake in shares of Flex by 55.0% in the 1st quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company’s stock valued at $276,652,000 after purchasing an additional 2,968,285 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Flex by 16.7% in the 1st quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company’s stock valued at $159,243,000 after purchasing an additional 690,611 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Flex by 3.2% in the first quarter. Earnest Partners LLC now owns 4,121,113 shares of the technology company’s stock valued at $136,326,000 after buying an additional 128,464 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Flex by 16.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company’s stock valued at $103,714,000 after buying an additional 453,455 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FLEX shares. JPMorgan Chase & Co. lifted their price target on Flex from $44.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Bank of America lifted their price target on Flex from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Barclays lifted their price target on Flex from $50.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Stifel Nicolaus lifted their price target on Flex from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, The Goldman Sachs Group set a $66.00 price target on Flex in a research note on Monday, September 29th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.71.

Flex Stock Up 0.6%

FLEX opened at $64.28 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.59. The firm has a market cap of $24.13 billion, a P/E ratio of 28.19, a PEG ratio of 2.09 and a beta of 1.15. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $65.59. The business’s fifty day simple moving average is $57.07 and its 200 day simple moving average is $48.45.

Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Thursday, July 24th. The technology company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.09. Flex had a return on equity of 20.25% and a net margin of 3.42%.The business had revenue of $6.58 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter last year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Flex Ltd. will post 2.33 EPS for the current fiscal year.

Insider Transactions at Flex

In other news, Director William D. Watkins sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. Following the transaction, the director directly owned 111,355 shares in the company, valued at $5,767,075.45. This trade represents a 8.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kwang Hooi Tan sold 12,500 shares of the firm’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $50.25, for a total value of $628,125.00. Following the completion of the transaction, the chief operating officer owned 263,636 shares in the company, valued at approximately $13,247,709. This trade represents a 4.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 90,020 shares of company stock worth $4,923,667 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Flex 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.