Flex Ltd. $FLEX Shares Sold by Occam Crest Management LP

Occam Crest Management LP lessened its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 92.1% in the fourth quarter, Holdings Channel reports. The firm owned 3,000 shares of the technology company’s stock after selling 35,000 shares during the period. Flex accounts for 0.1% of Occam Crest Management LP’s investment portfolio, making the stock its 26th biggest position. Occam Crest Management LP’s holdings in Flex were worth $181,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of FLEX. Brighton Jones LLC acquired a new stake in Flex in the fourth quarter valued at approximately $260,000. Goldman Sachs Group Inc. grew its position in shares of Flex by 19.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after buying an additional 211,046 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Flex during the first quarter worth approximately $397,000. EverSource Wealth Advisors LLC grew its position in shares of Flex by 63.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock worth $132,000 after buying an additional 1,031 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Flex by 92.4% during the second quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock worth $3,099,000 after purchasing an additional 29,821 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Down 0.3%

Shares of Flex stock opened at $149.22 on Tuesday. The firm has a market cap of $54.67 billion, a price-to-earnings ratio of 64.04, a P/E/G ratio of 0.79 and a beta of 1.63. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. Flex Ltd. has a 52-week low of $43.15 and a 52-week high of $166.86. The stock has a 50-day simple moving average of $117.49 and a 200-day simple moving average of $82.73.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results 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 during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. On average, equities research analysts expect that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on FLEX shares. Zacks Research upgraded Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Stifel Nicolaus raised their price target on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a report on Monday, April 20th. Barclays lifted their target price on Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. lifted their target price on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Finally, The Goldman Sachs Group lifted 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. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Flex has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.

Insider Transactions at Flex

In related news, CEO Revathi Advaithi sold 83,500 shares of the business’s stock in a transaction that occurred 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 approximately $80,455,708.14. The trade was a 12.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael P. Hartung sold 22,216 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $142.38, for a total value of $3,163,114.08. Following the completion of the sale, the insider owned 232,706 shares of the company’s stock, valued at approximately $33,132,680.28. This trade represents a 8.71% 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 quarter, insiders sold 345,012 shares of company stock worth $48,508,103. 0.57% of the stock is currently owned by company insiders.

Flex 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.