Becker Capital Management Inc. Sells 26,510 Shares of Flex Ltd. $FLEX

Becker Capital Management Inc. trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 4.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 601,828 shares of the technology company’s stock after selling 26,510 shares during the period. Becker Capital Management Inc. owned approximately 0.16% of Flex worth $30,043,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in shares of Flex during the first quarter valued at $25,000. MTM Investment Management LLC bought a new stake in Flex during the 2nd quarter valued at about $26,000. Concord Wealth Partners bought a new position in shares of Flex in the second quarter worth approximately $28,000. CNB Bank purchased a new stake in shares of Flex during the second quarter valued at approximately $30,000. Finally, Harbour Investments Inc. increased its position in shares of Flex by 74.7% during the second quarter. Harbour Investments Inc. now owns 704 shares of the technology company’s stock valued at $35,000 after acquiring an additional 301 shares in the last quarter. Institutional investors own 94.30% of the company’s stock.

Insiders Place Their Bets

In other news, Director William D. Watkins sold 20,000 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $54.52, for a total value of $1,090,400.00. Following the transaction, the director directly owned 98,073 shares in the company, valued at $5,346,939.96. The trade was a 16.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael P. Hartung sold 15,000 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $62.21, for a total value of $933,150.00. Following the sale, the insider owned 211,198 shares of the company’s stock, valued at $13,138,627.58. This represents a 6.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 142,500 shares of company stock valued at $8,445,350 in the last ninety days. Insiders own 0.57% of the company’s stock.

Flex Stock Performance

Shares of NASDAQ FLEX opened at $72.08 on Thursday. The stock has a market cap of $26.65 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 1.82 and a beta of 1.26. Flex Ltd. has a 1 year low of $25.11 and a 1 year high of $72.22. The firm has a fifty day moving average price of $61.04 and a 200-day moving average price of $54.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.83.

Analyst Upgrades and Downgrades

FLEX has been the subject of a number of research analyst reports. Bank of America lifted their target price on Flex from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 price objective on shares of Flex in a report on Wednesday, November 12th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. KeyCorp lifted their price target on shares of Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Flex in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $65.88.

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.