Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in shares of Flex Ltd (NASDAQ:FLEX) by 8.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 218,414 shares of the technology company’s stock after selling 20,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Flex were worth $2,090,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of FLEX. First Trust Advisors LP raised its stake in Flex by 23.2% during the 4th quarter. First Trust Advisors LP now owns 50,692 shares of the technology company’s stock valued at $386,000 after purchasing an additional 9,545 shares during the period. BlackRock Inc. increased its stake in shares of Flex by 5.4% in the fourth quarter. BlackRock Inc. now owns 10,007,102 shares of the technology company’s stock worth $76,154,000 after acquiring an additional 515,902 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Flex by 8.2% in the fourth quarter. Bank of New York Mellon Corp now owns 719,874 shares of the technology company’s stock worth $5,477,000 after acquiring an additional 54,378 shares during the last quarter. Northern Trust Corp increased its stake in shares of Flex by 9.7% in the fourth quarter. Northern Trust Corp now owns 1,254,175 shares of the technology company’s stock worth $9,544,000 after acquiring an additional 111,135 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Flex in the fourth quarter worth $133,000. Institutional investors and hedge funds own 94.49% of the company’s stock.
In related news, EVP David Scott Offer sold 6,751 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $9.63, for a total value of $65,012.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher Collier sold 12,890 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $9.61, for a total transaction of $123,872.90. Following the completion of the transaction, the chief financial officer now directly owns 1,118,171 shares of the company’s stock, valued at approximately $10,745,623.31. The disclosure for this sale can be found here. Insiders have sold 157,902 shares of company stock valued at $1,487,783 in the last ninety days. 0.42% of the stock is owned by company insiders.
FLEX stock traded up $0.12 during mid-day trading on Tuesday, reaching $10.10. 195,030 shares of the stock traded hands, compared to its average volume of 4,454,431. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.20 and a quick ratio of 0.71. Flex Ltd has a 52 week low of $6.74 and a 52 week high of $15.38. The stock has a 50-day simple moving average of $9.56. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 56.11, a PEG ratio of 0.61 and a beta of 1.80.
Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Tuesday, April 30th. The technology company reported $0.27 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.27. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $6.41 billion. Flex had a net margin of 0.36% and a return on equity of 3.03%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. Sell-side analysts predict that Flex Ltd will post 0.98 EPS for the current fiscal year.
FLEX has been the topic of a number of research reports. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Goldman Sachs Group raised shares of Exelon from a “neutral” rating to a “buy” rating and upped their price target for the stock from $48.00 to $52.00 in a research note on Thursday, June 6th. BidaskClub downgraded shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Monday, June 24th. Zacks Investment Research downgraded shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. downgraded shares of Sampo Oyj from an “overweight” rating to a “neutral” rating in a research note on Wednesday, May 29th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Flex currently has a consensus rating of “Hold” and an average target price of $10.67.
Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.
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