Boston Partners Trims Position in Flex Ltd. $FLEX

Boston Partners trimmed its position in shares of Flex Ltd. (NASDAQ:FLEX) by 36.4% during the 4th quarter, Holdings Channel reports. The firm owned 12,103,957 shares of the technology company’s stock after selling 6,926,879 shares during the period. Flex comprises 0.8% of Boston Partners’ investment portfolio, making the stock its 29th biggest position. Boston Partners’ holdings in Flex were worth $732,835,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Storgate LLC bought a new stake in Flex during the fourth quarter valued at about $873,000. Martingale Asset Management L P bought a new position in shares of Flex in the fourth quarter worth about $2,265,000. Caitong International Asset Management Co. Ltd grew its position in shares of Flex by 6,318.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock worth $43,000 after purchasing an additional 695 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Flex by 694,916.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,641,062 shares of the technology company’s stock valued at $159,573,000 after purchasing an additional 2,640,682 shares during the period. Finally, Korea Investment CORP bought a new stake in Flex during the 4th quarter valued at approximately $13,997,000. Institutional investors own 94.30% of the company’s stock.

Flex Stock Down 1.5%

Shares of NASDAQ:FLEX opened at $149.71 on Friday. The company has a market cap of $54.85 billion, a price-to-earnings ratio of 64.25, a PEG ratio of 0.80 and a beta of 1.64. Flex Ltd. has a 12 month low of $42.83 and a 12 month high of $166.86. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $115.87 and a 200 day moving average price of $81.91.

Flex (NASDAQ:FLEX) last issued its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. The business had revenue of $7.48 billion for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. As a group, equities research analysts predict that Flex Ltd. will post 4.15 earnings per share for the current year.

Insider Activity at Flex

In related news, CEO Revathi Advaithi sold 83,500 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $132.87, for a total value of $11,094,645.00. Following the completion of the sale, the chief executive officer directly owned 605,522 shares in the company, valued at $80,455,708.14. This trade represents a 12.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael P. Hartung sold 22,216 shares of Flex stock in a transaction on Monday, May 11th. The stock was sold at an average price of $142.38, for a total transaction of $3,163,114.08. Following the transaction, the insider directly owned 232,706 shares of the company’s stock, valued at $33,132,680.28. The trade was a 8.71% 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. Insiders have sold a total of 345,012 shares of company stock worth $48,508,103 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on FLEX. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. JPMorgan Chase & Co. raised their target price on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. KeyCorp lifted their price target on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Barclays increased their price objective on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average 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.