Graphene Investments SAS Cuts Holdings in Flex Ltd. $FLEX

Graphene Investments SAS lessened its position in shares of Flex Ltd. (NASDAQ:FLEX) by 55.7% in the second quarter, Holdings Channel.com reports. The fund owned 20,800 shares of the technology company’s stock after selling 26,100 shares during the quarter. Flex comprises approximately 2.0% of Graphene Investments SAS’s holdings, making the stock its 27th largest position. Graphene Investments SAS’s holdings in Flex were worth $3,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of FLEX. Insight Wealth Strategies LLC purchased a new stake in shares of Flex during the 2nd quarter worth about $4,320,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Flex during the 2nd quarter worth approximately $276,000. Kraft Davis & Associates LLC purchased a new position in Flex in the second quarter valued at approximately $308,000. Focus Financial Network Inc. acquired a new position in Flex during the second quarter valued at approximately $255,000. Finally, Arista Wealth Management LLC purchased a new stake in Flex during the second quarter worth approximately $736,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Michael P. Hartung sold 7,269 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $145.22, for a total value of $1,055,604.18. Following the sale, the insider owned 245,930 shares in the company, valued at approximately $35,713,954.60. This represents a 2.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 8,981 shares of Flex stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.19, for a total value of $1,303,951.39. Following the completion of the transaction, the chief operating officer owned 248,546 shares of the company’s stock, valued at $36,086,393.74. This trade represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 560,183 shares of company stock worth $80,426,190. 0.62% of the stock is currently owned by insiders.

Flex Stock Up 1.7%

FLEX stock opened at $124.53 on Thursday. The company has a current ratio of 1.38, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. The firm has a 50 day simple moving average of $135.32 and a 200-day simple moving average of $103.20. The company has a market capitalization of $46.00 billion, a P/E ratio of 48.08, a PEG ratio of 0.62 and a beta of 1.67. Flex Ltd. has a twelve month low of $47.83 and a twelve month high of $166.86.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Friday, June 26th. The technology company reported $1.00 earnings per share (EPS) for the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. The firm had revenue of $7.93 billion for the quarter. On average, equities research analysts predict that Flex Ltd. will post 4.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays decreased their price target on shares of Flex from $203.00 to $144.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Zacks Research cut Flex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Stifel Nicolaus upped their target price on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Robert W. Baird set a $142.00 target price on Flex in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Flex in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $114.20.

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.