Electron Capital Partners LLC Has $52.29 Million Position in Flex Ltd. $FLEX

Electron Capital Partners LLC trimmed its holdings in Flex Ltd. (NASDAQ:FLEX) by 15.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 798,774 shares of the technology company’s stock after selling 149,385 shares during the period. Flex comprises about 2.0% of Electron Capital Partners LLC’s holdings, making the stock its 18th largest position. Electron Capital Partners LLC owned approximately 0.22% of Flex worth $52,288,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several analysts have recently 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. The Goldman Sachs Group increased their price target on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Zacks Research lowered shares of Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Barclays boosted their target price on Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. 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’s stock. Based on data from MarketBeat, Flex presently has an average rating of “Moderate Buy” and a consensus target price of $115.70.

Insiders Place Their Bets

In other Flex news, EVP David Scott Offer sold 6,657 shares of the firm’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 completion of the sale, the executive vice president directly owned 91,122 shares in the company, valued at $13,233,648.06. This trade represents a 6.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Daniel Wendler sold 1,311 shares of Flex stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.20, for a total value of $190,357.20. Following the sale, the chief accounting officer owned 37,932 shares in the company, valued at $5,507,726.40. This represents a 3.34% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 769,195 shares of company stock worth $110,116,823. Insiders own 0.62% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $116.07 on Tuesday. The firm has a market cap of $42.53 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 0.62 and a beta of 1.64. Flex Ltd. has a 12-month low of $47.83 and a 12-month high of $166.86. The company has a 50-day simple moving average of $141.10 and a two-hundred day simple moving average of $98.60. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%.The business had revenue of $7.48 billion for the quarter. On average, equities analysts forecast that Flex Ltd. will post 4.18 EPS for the current year.

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.