PGGM Investments Sells 36,741 Shares of Flex Ltd. (NASDAQ:FLEX)

PGGM Investments reduced its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 13.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 242,935 shares of the technology company’s stock after selling 36,741 shares during the period. PGGM Investments’ holdings in Flex were worth $7,164,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FLEX. Richardson Financial Services Inc. acquired a new stake in shares of Flex during the 4th quarter worth $34,000. CWM LLC boosted its stake in Flex by 92.5% in the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after buying an additional 773 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in Flex by 52.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 4,502 shares of the technology company’s stock valued at $137,000 after buying an additional 1,540 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Flex by 319.7% in the fourth quarter. First Horizon Advisors Inc. now owns 4,613 shares of the technology company’s stock valued at $141,000 after buying an additional 3,514 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Flex in the first quarter valued at about $149,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Trading Up 4.0 %

Shares of FLEX stock traded up $1.23 during mid-day trading on Thursday, reaching $31.69. 959,154 shares of the stock traded hands, compared to its average volume of 4,395,172. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $34.12. The company has a quick ratio of 0.79, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a market cap of $12.64 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 2.03 and a beta of 1.12. The stock’s fifty day simple moving average is $30.45 and its two-hundred day simple moving average is $29.25.

Insider Transactions at Flex

In other Flex news, CAO Daniel Wendler sold 1,670 shares of Flex stock in a transaction that occurred on Tuesday, June 4th. The stock was 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 SEC, which is available at the SEC website. In other Flex news, CEO Revathi Advaithi sold 61,042 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $32.53, for a total value of $1,985,696.26. Following the completion of the sale, the chief executive officer now owns 1,842,362 shares of the company’s stock, valued at $59,932,035.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Daniel Wendler sold 1,670 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $880,261.80. The disclosure for this sale can be found here. Insiders sold 559,062 shares of company stock worth $18,134,960 over the last ninety days. 0.82% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on FLEX shares. Stifel Nicolaus raised their price objective on Flex from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Craig Hallum raised Flex from a “hold” rating to a “buy” rating and raised their price objective for the company from $27.00 to $39.00 in a research note on Thursday, July 25th. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Barclays lifted their price target on Flex from $34.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on Flex from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Flex presently has an average rating of “Buy” and a consensus price target of $38.40.

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.