Raymond James Financial Services Advisors Inc. Sells 1,384 Shares of Flex Ltd. (NASDAQ:FLEX)

Raymond James Financial Services Advisors Inc. trimmed its holdings in Flex Ltd. (NASDAQ:FLEX) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,483 shares of the technology company’s stock after selling 1,384 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Flex were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC raised its position in shares of Flex by 0.6% in the third quarter. FMR LLC now owns 44,662,657 shares of the technology company’s stock valued at $1,204,998,000 after buying an additional 247,024 shares in the last quarter. BlackRock Inc. raised its position in shares of Flex by 5.9% in the first quarter. BlackRock Inc. now owns 16,377,282 shares of the technology company’s stock valued at $376,841,000 after buying an additional 916,299 shares in the last quarter. Invesco Ltd. raised its position in shares of Flex by 119.3% in the first quarter. Invesco Ltd. now owns 10,551,440 shares of the technology company’s stock valued at $195,729,000 after buying an additional 5,741,044 shares in the last quarter. Bank of America Corp DE raised its position in Flex by 0.9% during the first quarter. Bank of America Corp DE now owns 8,742,594 shares of the technology company’s stock valued at $201,167,000 after purchasing an additional 73,829 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in Flex by 0.5% during the second quarter. Macquarie Group Ltd. now owns 7,738,381 shares of the technology company’s stock valued at $111,975,000 after purchasing an additional 35,557 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Performance

NASDAQ FLEX opened at $28.08 on Thursday. The firm’s fifty day moving average price is $28.35 and its two-hundred day moving average price is $26.71. The stock has a market cap of $11.83 billion, a PE ratio of 16.71, a PEG ratio of 1.74 and a beta of 1.19. Flex Ltd. has a fifty-two week low of $19.44 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.86 and a current ratio of 1.59.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. The firm had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Flex had a net margin of 2.56% and a return on equity of 16.24%. On average, equities analysts expect that Flex Ltd. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on FLEX. StockNews.com began coverage on shares of Flex in a research report on Wednesday, March 6th. They set a “hold” rating for the company. The Goldman Sachs Group boosted their price objective on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Insider Buying and Selling

In related news, CAO Daniel Wendler sold 1,860 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the sale, 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 legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Daniel Wendler sold 1,860 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total value of $53,735.40. Following the sale, 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 legal filing with the SEC, which is accessible through the SEC website. Also, insider Kwang Hooi Tan sold 8,027 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $28.81, for a total transaction of $231,257.87. Following the completion of the sale, the insider now directly owns 159,718 shares in the company, valued at approximately $4,601,475.58. The disclosure for this sale can be found here. Insiders have sold a total of 141,943 shares of company stock valued at $4,055,311 over the last 90 days. 0.56% of the stock is owned by insiders.

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.