Globeflex Capital L P reduced its stake in Flex Ltd (NASDAQ:FLEX) by 26.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 18,200 shares of the technology company’s stock after selling 6,400 shares during the quarter. Globeflex Capital L P’s holdings in Flex were worth $182,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Willingdon Wealth Management purchased a new stake in Flex in the first quarter worth approximately $27,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Flex by 119.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,825 shares of the technology company’s stock worth $29,000 after buying an additional 2,084 shares in the last quarter. Fiera Capital Corp purchased a new stake in Flex in the fourth quarter worth approximately $80,000. Wetherby Asset Management Inc. purchased a new stake in Flex in the fourth quarter worth approximately $90,000. Finally, Blueshift Asset Management LLC purchased a new stake in Flex in the fourth quarter worth approximately $96,000. 94.47% of the stock is currently owned by institutional investors.
FLEX has been the subject of a number of analyst reports. ValuEngine raised Flex from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research raised Flex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 5th. BidaskClub lowered Flex from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Goldman Sachs Group raised Flex from a “neutral” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Thursday, June 6th. Finally, JPMorgan Chase & Co. raised Flex from a “neutral” rating to an “overweight” rating and set a $12.00 price target for the company in a research note on Wednesday, May 29th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $12.00.
FLEX traded up $0.18 during trading on Wednesday, reaching $9.49. The stock had a trading volume of 3,082,238 shares, compared to its average volume of 6,757,263. Flex Ltd has a one year low of $6.74 and a one year high of $15.38. The company has a quick ratio of 0.71, a current ratio of 1.20 and a debt-to-equity ratio of 0.81. The firm’s 50 day simple moving average is $9.63. The company has a market capitalization of $4.90 billion, a P/E ratio of 52.72, a price-to-earnings-growth ratio of 0.59 and a beta of 1.85.
Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. Flex had a return on equity of 3.03% and a net margin of 0.36%. The firm had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $6.41 billion. During the same period last year, the company earned $0.28 earnings per share. The company’s revenue was down 3.3% on a year-over-year basis. Research analysts predict that Flex Ltd will post 0.98 EPS for the current year.
In other news, President Douglas Britt sold 10,313 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $9.61, for a total value of $99,107.93. Following the sale, the president now owns 681,494 shares in the company, valued at $6,549,157.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher Collier sold 12,119 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $8.97, for a total value of $108,707.43. The disclosure for this sale can be found here. Insiders sold 110,682 shares of company stock worth $1,032,102 over the last three months. Insiders own 0.88% of the company’s stock.
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
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