Flex Ltd. $FLEX Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 6.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 210,137 shares of the technology company’s stock after selling 15,540 shares during the period. Brown Advisory Inc. owned approximately 0.06% of Flex worth $10,490,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Flex during the 2nd quarter valued at about $291,362,000. Invesco Ltd. increased its stake in shares of Flex by 55.0% during the first quarter. Invesco Ltd. now owns 8,363,106 shares of the technology company’s stock valued at $276,652,000 after acquiring an additional 2,968,285 shares during the period. Geode Capital Management LLC raised its holdings in Flex by 52.1% during the second quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock worth $358,500,000 after purchasing an additional 2,459,511 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in Flex by 73.6% in the first quarter. Alyeska Investment Group L.P. now owns 2,777,753 shares of the technology company’s stock worth $91,888,000 after purchasing an additional 1,177,970 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Flex by 4.8% during the 1st quarter. Wellington Management Group LLP now owns 21,742,194 shares of the technology company’s stock valued at $719,232,000 after purchasing an additional 996,276 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Transactions at Flex

In other Flex news, CAO Daniel Wendler sold 10,000 shares of Flex stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $56.66, for a total transaction of $566,600.00. Following the transaction, the chief accounting officer directly owned 37,619 shares in the company, valued at approximately $2,131,492.54. The trade was a 21.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Kwang Hooi Tan sold 12,500 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of $64.88, for a total value of $811,000.00. Following the completion of the sale, the chief operating officer owned 251,136 shares of the company’s stock, valued at $16,293,703.68. The trade was a 4.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 152,500 shares of company stock worth $9,011,950. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FLEX shares. Argus set a $85.00 price objective on Flex in a research note on Friday, October 31st. The Goldman Sachs Group boosted their price target on shares of Flex from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Flex from $60.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Finally, Bank of America raised their target price on shares of Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.75.

Flex Stock Performance

Shares of FLEX opened at $62.41 on Monday. The company has a 50-day moving average of $60.35 and a two-hundred day moving average of $53.89. The stock has a market cap of $23.08 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 1.66 and a beta of 1.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83. Flex Ltd. has a one year low of $25.11 and a one year high of $67.00.

About Flex

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.