Flex Ltd. $FLEX Shares Sold by Delphi Management Inc. MA

Delphi Management Inc. MA lowered its position in shares of Flex Ltd. (NASDAQ:FLEX) by 20.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,456 shares of the technology company’s stock after selling 5,035 shares during the quarter. Flex accounts for approximately 1.5% of Delphi Management Inc. MA’s investment portfolio, making the stock its 13th largest position. Delphi Management Inc. MA’s holdings in Flex were worth $1,274,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Flex by 196.1% in the 4th quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after acquiring an additional 25,662,586 shares during the last quarter. State Street Corp grew its stake in shares of Flex by 17.8% in the 4th quarter. State Street Corp now owns 14,055,533 shares of the technology company’s stock worth $849,235,000 after purchasing an additional 2,126,440 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Flex by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,605,802 shares of the technology company’s stock worth $459,829,000 after purchasing an additional 181,266 shares during the last quarter. Norges Bank bought a new stake in shares of Flex in the 4th quarter worth approximately $319,756,000. Finally, Polar Capital Holdings Plc lifted its stake in Flex by 141.8% during the fourth quarter. Polar Capital Holdings Plc now owns 3,693,141 shares of the technology company’s stock valued at $223,140,000 after purchasing an additional 2,165,780 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Trading Down 0.8%

NASDAQ:FLEX opened at $150.60 on Thursday. The stock has a market cap of $55.18 billion, a PE ratio of 64.64, a price-to-earnings-growth ratio of 0.80 and a beta of 1.64. Flex Ltd. has a fifty-two week low of $47.83 and a fifty-two week high of $166.86. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The stock’s 50-day moving average is $128.20 and its two-hundred day moving average is $87.19.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. The business had revenue of $7.48 billion during the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. As a group, equities research analysts forecast that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Insider Activity at Flex

In other Flex news, insider Michael P. Hartung sold 22,627 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total value of $3,269,148.96. Following the completion of the sale, the insider owned 253,199 shares in the company, valued at $36,582,191.52. This represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 33,000 shares of Flex stock in a transaction on Friday, June 5th. The shares were sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the sale, the executive vice president directly owned 73,471 shares of the company’s stock, valued at $11,307,921.61. This trade represents a 30.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 769,195 shares of company stock worth $110,116,823 in the last 90 days. 0.57% of the stock is owned by corporate insiders.

Trending Headlines about Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex was set to join the S&P 500 Index, a change that can boost demand for shares through index fund buying and improve the company’s visibility with institutional investors. Flex Ltd. (FLEX) to Join S&P 500 Index on June 22
• Neutral Sentiment: A Kotaku article about a Bose SoundLink Flex speaker being at an all-time low appears unrelated to Flex Ltd. and is unlikely to affect the stock. Bose SoundLink Flex 2 article
• Negative Sentiment: Multiple insiders, including CEO Revathi Advaithi, COO Kwang Hooi Tan, EVP David Scott Offer, CAO Daniel Wendler, and insider Michael P. Hartung, sold shares recently. Although the filings say the sales were mostly tied to Rule 10b5-1 plans and tax withholding from vested awards, the concentration of selling can still weigh on sentiment. Flex insider selling alert

Analyst Upgrades and Downgrades

FLEX has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Barclays increased their price objective on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Finally, Robert W. Baird set a $165.00 target price on Flex in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Flex presently has an average rating of “Moderate Buy” and an average price target of $115.70.

Flex Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.