Flex Ltd. (NASDAQ:FLEX) Shares Sold by Scout Investments Inc.

Scout Investments Inc. cut its stake in Flex Ltd. (NASDAQ:FLEXFree Report) by 18.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 519,706 shares of the technology company’s stock after selling 120,825 shares during the quarter. Scout Investments Inc. owned about 0.12% of Flex worth $15,830,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC raised its stake in Flex by 92.5% during the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after purchasing an additional 773 shares during the period. Fifth Third Bancorp grew its position in Flex by 276.6% in the fourth quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock worth $60,000 after acquiring an additional 1,455 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in Flex during the fourth quarter worth $75,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Flex in the fourth quarter valued at $77,000. Finally, Optimum Investment Advisors purchased a new position in shares of Flex during the 4th quarter worth $79,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Down 0.9 %

Shares of Flex stock traded down $0.29 during trading on Friday, hitting $31.97. 2,825,951 shares of the stock were exchanged, compared to its average volume of 3,957,053. The stock has a market cap of $12.84 billion, a price-to-earnings ratio of 13.90, a price-to-earnings-growth ratio of 2.16 and a beta of 1.13. The firm’s 50-day moving average price is $29.68 and its 200 day moving average price is $27.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.52 and a quick ratio of 0.79. Flex Ltd. has a 12-month low of $21.84 and a 12-month high of $34.12.

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

Insider Buying and Selling

In other Flex news, CAO Daniel Wendler sold 1,860 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the transaction, the chief accounting officer now owns 28,730 shares of the company’s stock, valued at $830,009.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Kwang Hooi Tan sold 14,599 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total value of $418,261.35. Following the completion of the sale, the insider now owns 163,656 shares in the company, valued at approximately $4,688,744.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Daniel Wendler sold 1,860 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the transaction, the chief accounting officer now directly owns 28,730 shares in the company, valued at $830,009.70. The disclosure for this sale can be found here. Insiders have sold 442,684 shares of company stock worth $13,472,954 in the last ninety days. 0.56% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com lowered shares of Flex from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Craig Hallum lowered Flex from a “buy” rating to a “hold” rating and cut their target price for the company from $28.00 to $27.00 in a research report on Thursday, May 2nd. The Goldman Sachs Group raised their price target on Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. boosted their price objective on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Barclays raised their target price on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Flex presently has a consensus rating of “Moderate Buy” and an average price target of $32.83.

View Our Latest Stock Report on FLEX

About Flex

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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