Livforsakringsbolaget Skandia Omsesidigt trimmed its holdings in shares of Flex Ltd (NASDAQ:FLEX) by 6.7% during the fourth quarter, Holdings Channel reports. The fund owned 283,478 shares of the technology company’s stock after selling 20,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Flex were worth $5,099,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Trust N.A. increased its position in shares of Flex by 2.3% during the second quarter. Raymond James Trust N.A. now owns 13,483 shares of the technology company’s stock worth $220,000 after acquiring an additional 309 shares during the last quarter. IFP Advisors Inc increased its position in shares of Flex by 13.6% during the third quarter. IFP Advisors Inc now owns 27,978 shares of the technology company’s stock worth $464,000 after acquiring an additional 3,353 shares during the last quarter. PGGM Investments increased its position in shares of Flex by 0.3% during the third quarter. PGGM Investments now owns 2,184,514 shares of the technology company’s stock worth $36,197,000 after acquiring an additional 7,337 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in shares of Flex by 5.6% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 152,663 shares of the technology company’s stock worth $2,529,000 after acquiring an additional 8,100 shares during the last quarter. Finally, Woodmont Investment Counsel LLC purchased a new stake in shares of Flex during the third quarter worth about $244,000. 95.28% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently weighed in on the company. Citigroup boosted their price objective on Flex from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 27th. BidaskClub lowered Flex from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. UBS Group boosted their price objective on Flex from $18.00 to $19.75 and gave the company a “buy” rating in a report on Friday, October 27th. Stifel Nicolaus boosted their price objective on Flex from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 27th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $19.00 price objective on shares of Flex in a report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $19.75.
In other news, EVP David Scott Offer sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $17.71, for a total transaction of $796,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Watkins sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $17.73, for a total value of $159,570.00. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by corporate insiders.
Shares of Flex Ltd (FLEX) opened at $19.44 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.23 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $10,051.53, a PE ratio of 19.25, a P/E/G ratio of 1.04 and a beta of 0.81. Flex Ltd has a fifty-two week low of $14.40 and a fifty-two week high of $19.48.
Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The firm had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.09 billion. Flex had a return on equity of 29.41% and a net margin of 3.27%. Flex’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 earnings per share. equities analysts anticipate that Flex Ltd will post 1.09 EPS for the current year.
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Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
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