Flex Ltd. (NASDAQ:FLEX) Stock Holdings Cut by Leuthold Group LLC

Leuthold Group LLC lessened its position in Flex Ltd. (NASDAQ:FLEX) by 0.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 234,081 shares of the technology company’s stock after selling 493 shares during the period. Leuthold Group LLC owned approximately 0.06% of Flex worth $6,697,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Flex in the 4th quarter worth approximately $165,000,000. California Public Employees Retirement System lifted its position in shares of Flex by 63.9% during the 4th quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock valued at $73,817,000 after acquiring an additional 944,928 shares during the last quarter. Boston Partners boosted its stake in shares of Flex by 7.5% during the 4th quarter. Boston Partners now owns 8,967,046 shares of the technology company’s stock worth $272,891,000 after acquiring an additional 624,414 shares in the last quarter. Troluce Capital Advisors LLC grew its holdings in shares of Flex by 104.3% in the 4th quarter. Troluce Capital Advisors LLC now owns 1,125,000 shares of the technology company’s stock worth $34,268,000 after acquiring an additional 574,308 shares during the last quarter. Finally, Brandes Investment Partners LP raised its position in shares of Flex by 26.8% during the fourth quarter. Brandes Investment Partners LP now owns 1,936,148 shares of the technology company’s stock worth $58,975,000 after purchasing an additional 409,435 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Activity

In other news, CAO Daniel Wendler sold 1,670 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $32.53, for a total value of $54,325.10. Following the completion of the sale, the chief accounting officer now directly owns 27,060 shares in the company, valued at $880,261.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Daniel Wendler sold 1,670 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $32.53, for a total transaction of $54,325.10. Following the completion of the transaction, the chief accounting officer now directly owns 27,060 shares in the company, valued at approximately $880,261.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Revathi Advaithi sold 37,170 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $31.30, for a total transaction of $1,163,421.00. Following the transaction, the chief executive officer now owns 2,057,473 shares in the company, valued at approximately $64,398,904.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 804,542 shares of company stock valued at $25,147,972. Insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on FLEX. Craig Hallum lowered Flex from a “buy” rating to a “hold” rating and decreased their price target for the company from $28.00 to $27.00 in a research report on Thursday, May 2nd. Barclays lifted their target price on shares of Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. upped their price target on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.20.

Flex Stock Up 1.6 %

FLEX traded up $0.49 during midday trading on Friday, hitting $30.61. 1,365,822 shares of the company’s stock traded hands, compared to its average volume of 4,589,503. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.52 and a quick ratio of 0.79. The company has a market cap of $12.21 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. The stock’s fifty day simple moving average is $30.77 and its 200-day simple moving average is $28.40. Flex Ltd. has a one year low of $21.84 and a one year high of $34.12.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.10 billion. Flex had a net margin of 3.58% and a return on equity of 16.46%. As a group, equities analysts anticipate that Flex Ltd. will post 2.06 earnings per share for the current fiscal year.

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.