Flex Ltd. $FLEX Holdings Lowered by Maytus Capital Management LLC

Maytus Capital Management LLC trimmed its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 40.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 50,000 shares of the technology company’s stock after selling 34,000 shares during the period. Maytus Capital Management LLC’s holdings in Flex were worth $3,021,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FLEX. USA Financial Formulas acquired a new position in shares of Flex in the 4th quarter worth approximately $28,000. Frazier Financial Advisors LLC purchased a new position in shares of Flex in the fourth quarter worth approximately $28,000. Parkside Financial Bank & Trust grew its position in Flex by 57.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after purchasing an additional 166 shares in the last quarter. CENTRAL TRUST Co grew its position in Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock valued at $29,000 after purchasing an additional 355 shares in the last quarter. Finally, Gables Capital Management Inc. acquired a new stake in Flex in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on FLEX shares. Robert W. Baird set a $165.00 target price on shares of Flex in a research note on Thursday, May 7th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their price target on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Barclays boosted their target price on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Finally, Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One investment 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.70.

Flex Stock Performance

Flex stock opened at $146.93 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Flex Ltd. has a 1 year low of $43.62 and a 1 year high of $166.86. The company has a market cap of $53.83 billion, a PE ratio of 63.06, a PEG ratio of 0.79 and a beta of 1.64. The company’s 50-day moving average is $119.05 and its two-hundred day moving average is $83.35.

Flex (NASDAQ:FLEX) last released its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The company had revenue of $7.48 billion for the quarter. Equities analysts anticipate that Flex Ltd. will post 4.15 earnings per share for the current year.

Insider Activity at Flex

In other Flex news, CEO Revathi Advaithi sold 114,090 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $142.37, for a total transaction of $16,242,993.30. Following the transaction, the chief executive officer directly owned 689,022 shares in the company, valued at approximately $98,096,062.14. This represents a 14.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 the company’s stock in a transaction dated 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 transaction, the executive vice president owned 73,471 shares in the company, valued at approximately $11,307,921.61. The trade was a 30.99% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 345,012 shares of company stock worth $48,508,103. Insiders own 0.57% of the company’s stock.

Flex Company 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.