Pacer Advisors Inc. Has $71.55 Million Stock Holdings in Flex Ltd. $FLEX

Pacer Advisors Inc. trimmed its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 13.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,184,140 shares of the technology company’s stock after selling 180,903 shares during the period. Pacer Advisors Inc.’s holdings in Flex were worth $71,546,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, insider Michael P. Hartung sold 22,216 shares of the business’s stock in a transaction on Monday, May 11th. The shares were 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 directly owned 232,706 shares in the company, valued at approximately $33,132,680.28. The trade was a 8.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 114,090 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $142.37, for a total transaction of $16,242,993.30. Following the sale, the chief executive officer directly owned 689,022 shares of the company’s stock, valued at approximately $98,096,062.14. This represents a 14.21% 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. Over the last 90 days, insiders have sold 433,924 shares of company stock valued at $61,663,653. 0.57% of the stock is owned by corporate insiders.

Flex Stock Performance

Shares of NASDAQ FLEX opened at $147.61 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The firm has a market cap of $54.08 billion, a price-to-earnings ratio of 63.35, a P/E/G ratio of 0.75 and a beta of 1.64. The business’s 50-day simple moving average is $122.15 and its 200-day simple moving average is $84.57. Flex Ltd. has a 52 week low of $45.31 and a 52 week high of $166.86.

Flex (NASDAQ:FLEX) last posted its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The firm 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%. As a group, equities research analysts expect that Flex Ltd. will post 4.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. The Goldman Sachs Group raised their price objective on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Robert W. Baird set a $165.00 target price on shares of Flex in a research report on Thursday, May 7th. Finally, Barclays increased their price target on shares of Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.70.

Key Stories Impacting Flex

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Analyst sentiment remains constructive, with several firms maintaining buy ratings and recent price-target increases supporting the longer-term outlook. Flex stock page
• Positive Sentiment: Flex’s latest quarter showed solid operating performance, with $0.93 EPS and $7.48 billion in revenue, reinforcing confidence in the business. Flex stock page
• Neutral Sentiment: Several insider sales were disclosed, but the company said they were primarily tied to tax withholding on vested equity awards and, in one case, a 10b5-1 plan. SEC filing
• Negative Sentiment: The concentration of insider selling across senior leadership may still create short-term caution among investors, even if the transactions were routine. SEC filing

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.