Electron Capital Partners LLC Sells 149,385 Shares of Flex Ltd. $FLEX

Electron Capital Partners LLC decreased its position in shares of Flex Ltd. (NASDAQ:FLEX) by 15.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 798,774 shares of the technology company’s stock after selling 149,385 shares during the quarter. Flex accounts for 2.0% of Electron Capital Partners LLC’s portfolio, making the stock its 18th largest position. Electron Capital Partners LLC’s holdings in Flex were worth $52,288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. USA Financial Formulas bought a new position in Flex during the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust lifted its stake in shares of Flex by 57.0% in the 4th 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 during the last quarter. Frazier Financial Advisors LLC purchased a new stake in Flex during the 4th quarter valued at $28,000. Gables Capital Management Inc. purchased a new stake in Flex during the 4th quarter valued at $42,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Flex by 6,318.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock worth $43,000 after buying an additional 695 shares during the last quarter. Institutional investors own 94.30% of the company’s stock.

Insider Activity

In related news, CEO Revathi Advaithi sold 39,188 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $145.18, for a total value of $5,689,313.84. Following the transaction, the chief executive officer directly owned 584,278 shares of the company’s stock, valued at $84,825,480.04. This represents a 6.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 6,657 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $145.23, for a total value of $966,796.11. Following the sale, the executive vice president owned 91,122 shares in the company, valued at approximately $13,233,648.06. The trade was a 6.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 769,195 shares of company stock valued at $110,116,823. 0.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FLEX. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Stifel Nicolaus boosted their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. Freedom Capital upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Zacks Research lowered Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.70.

Flex Stock Performance

FLEX opened at $116.07 on Tuesday. The company has a market cap of $42.53 billion, a P/E ratio of 49.82, a price-to-earnings-growth ratio of 0.62 and a beta of 1.64. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average price is $141.10 and its 200-day moving average price is $98.60. Flex Ltd. has a 52-week low of $47.83 and a 52-week high of $166.86.

Flex (NASDAQ:FLEX) last released its earnings results on Tuesday, March 31st. The technology company reported $0.93 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 during the quarter. As a group, equities analysts anticipate that Flex Ltd. will post 4.18 EPS for the current fiscal year.

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.