Concentric Capital Strategies LP Reduces Stake in Flex Ltd. $FLEX

Concentric Capital Strategies LP lessened its stake in Flex Ltd. (NASDAQ:FLEX) by 50.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,913 shares of the technology company’s stock after selling 109,178 shares during the quarter. Concentric Capital Strategies LP’s holdings in Flex were worth $6,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FLEX. USA Financial Formulas bought a new stake in shares of Flex in the fourth quarter valued at approximately $28,000. Frazier Financial Advisors LLC bought a new position in Flex in the 4th quarter worth approximately $28,000. Parkside Financial Bank & Trust grew its stake in 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 buying an additional 166 shares in the last quarter. Gables Capital Management Inc. bought a new stake in Flex during the 4th quarter valued at $42,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of 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 acquiring an additional 695 shares during the period. 94.30% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Kwang Hooi Tan sold 10,540 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $148.02, for a total value of $1,560,130.80. Following the sale, the chief operating officer directly owned 235,602 shares of the company’s stock, valued at $34,873,808.04. This represents a 4.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 18,750 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $147.91, for a total transaction of $2,773,312.50. Following the transaction, the executive vice president directly owned 54,721 shares of the company’s stock, valued at $8,093,783.11. This represents a 25.52% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 433,924 shares of company stock worth $61,663,653. 0.57% of the stock is currently owned by corporate insiders.

More Flex News

Here are the key news stories impacting Flex this week:

• Neutral Sentiment: CEO Revathi Advaithi sold 39,239 shares, a 6.48% reduction in her holdings, in a transaction valued at about $5.8 million; the filing says the sale was to cover tax withholding obligations. SEC filing
• Neutral Sentiment: CFO Kevin Krumm sold 3,378 shares, and COO Kwang Hooi Tan sold 10,540 shares, both describing the trades as tax-related equity award withholding rather than a change in business outlook. SEC filing
• Neutral Sentiment: EVP David Scott Offer sold shares in two transactions, including one under a Rule 10b5-1 plan, which may reduce concern about timing but still adds to the overall insider-selling narrative. SEC filing
• Neutral Sentiment: Other insider sales came from COO Kwang Hooi Tan, insider Michael P. Hartung, and CAO Daniel Wendler, all similarly framed as equity-compensation-related selling. SEC filing

Flex Stock Performance

Shares of FLEX stock opened at $143.13 on Thursday. The company has a market capitalization of $52.44 billion, a P/E ratio of 61.43, a PEG ratio of 0.77 and a beta of 1.64. Flex Ltd. has a fifty-two week low of $45.31 and a fifty-two week high of $166.86. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The stock has a 50 day moving average price of $120.56 and a two-hundred day moving average price of $83.95.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data 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 firm had revenue of $7.48 billion during the quarter. Analysts expect that Flex Ltd. will post 4.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. KeyCorp boosted their price objective on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Robert W. Baird set a $165.00 price objective on Flex in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Flex currently has an average rating of “Moderate Buy” and a consensus price target of $115.70.

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.