Vestcor Inc Sells 66,962 Shares of Flex Ltd. $FLEX

Vestcor Inc lessened its position in shares of Flex Ltd. (NASDAQ:FLEX) by 40.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,354 shares of the technology company’s stock after selling 66,962 shares during the period. Vestcor Inc’s holdings in Flex were worth $6,063,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. OneAscent Financial Services LLC boosted its holdings in shares of Flex by 37.7% during the fourth quarter. OneAscent Financial Services LLC now owns 10,805 shares of the technology company’s stock worth $653,000 after acquiring an additional 2,961 shares during the period. OneAscent Family Office LLC bought a new stake in shares of Flex during the fourth quarter worth approximately $236,000. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new stake in shares of Flex during the fourth quarter worth approximately $5,250,000. WINTON GROUP Ltd bought a new stake in shares of Flex during the fourth quarter worth approximately $2,131,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Flex by 19.6% during the fourth quarter. Parallel Advisors LLC now owns 4,293 shares of the technology company’s stock worth $259,000 after acquiring an additional 705 shares during the period. Institutional investors own 94.30% of the company’s stock.

Key Flex News

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Flex is highlighted as a potential winner in a strengthening electronics sector, with analysts pointing to infrastructure investment and capacity expansion as tailwinds for the business. Article Title
• Positive Sentiment: Investors are reacting to Flex’s growth strategy, including the planned separation of its Power and Cloud portfolio and an acquisition in electrical power, which could expand its exposure to AI data centers, grid modernization, and electrification. Article Title
• Neutral Sentiment: A Zacks follow-up notes that FLEX has risen since its last earnings report, but questions remain about whether the momentum can continue, making this more of a status update than a clear catalyst. Article Title
• Negative Sentiment: EVP David Scott Offer sold 33,000 shares in a pre-arranged 10b5-1 transaction, trimming his stake by about 31%; while routine, insider selling can still weigh on sentiment. Article Title

Flex Trading Down 4.8%

Shares of FLEX stock opened at $151.92 on Friday. The stock has a 50 day simple moving average of $107.57 and a 200 day simple moving average of $78.73. 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 $42.60 and a 1 year high of $166.86. The stock has a market cap of $55.66 billion, a P/E ratio of 65.20, a price-to-earnings-growth ratio of 0.80 and a beta of 1.64.

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

Insider Activity

In other Flex news, COO Kwang Hooi Tan sold 17,500 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $135.93, for a total transaction of $2,378,775.00. Following the completion of the sale, the chief operating officer directly owned 238,543 shares in the company, valued at $32,425,149.99. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Erin Mcsweeney sold 2,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $132.51, for a total value of $265,020.00. Following the sale, the director owned 9,512 shares of the company’s stock, valued at $1,260,435.12. The trade was a 17.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 362,512 shares of company stock valued at $49,538,328. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

FLEX has been the subject of several recent research reports. KeyCorp boosted their price target on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Robert W. Baird set a $165.00 price target on Flex in a research note on Thursday, May 7th. Barclays boosted their price target on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.

About Flex

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.