Flex Ltd. (NASDAQ:FLEX) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC trimmed its position in shares of Flex Ltd. (NASDAQ:FLEX) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,226 shares of the technology company’s stock after selling 334 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Flex were worth $316,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of Flex by 619.3% in the third quarter. Geode Capital Management LLC now owns 4,465,814 shares of the technology company’s stock valued at $149,350,000 after purchasing an additional 3,844,935 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Flex by 462.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,639,769 shares of the technology company’s stock valued at $88,247,000 after buying an additional 2,170,262 shares in the last quarter. Simcoe Capital Management LLC acquired a new stake in Flex during the 3rd quarter valued at $22,075,000. State Street Corp increased its position in Flex by 19.7% during the third quarter. State Street Corp now owns 3,664,463 shares of the technology company’s stock worth $122,503,000 after buying an additional 603,208 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Flex by 2,600.1% in the third quarter. BNP Paribas Financial Markets now owns 493,659 shares of the technology company’s stock worth $16,503,000 after acquiring an additional 475,376 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FLEX. The Goldman Sachs Group set a $39.00 price objective on Flex in a research report on Thursday, October 17th. Barclays upped their price objective on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Stifel Nicolaus lifted their target price on shares of Flex from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. KeyCorp initiated coverage on Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target on the stock. Finally, Craig Hallum lifted their price objective on Flex from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $43.67.

Insider Activity

In other news, Director Charles K. Stevens III sold 13,157 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $38.69, for a total value of $509,044.33. Following the completion of the sale, the director now owns 55,713 shares in the company, valued at approximately $2,155,535.97. This trade represents a 19.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.82% of the company’s stock.

Flex Trading Down 2.8 %

Shares of FLEX opened at $40.50 on Tuesday. Flex Ltd. has a twelve month low of $24.05 and a twelve month high of $45.10. The firm has a market capitalization of $15.71 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 2.43 and a beta of 1.10. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The stock’s fifty day simple moving average is $39.96 and its 200 day simple moving average is $35.48.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.83% and a net margin of 3.95%. On average, equities research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current year.

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.