6,856 Shares in Flex Ltd. $FLEX Purchased by Nwam LLC

Nwam LLC bought a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 6,856 shares of the technology company’s stock, valued at approximately $449,000.

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

Insider Transactions at Flex

In other Flex news, insider Michael P. Hartung sold 22,627 shares of Flex stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total transaction of $3,269,148.96. Following the transaction, the insider directly owned 253,199 shares of the company’s stock, valued at $36,582,191.52. The trade was a 8.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Revathi Advaithi sold 197,879 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $144.32, for a total transaction of $28,557,897.28. Following the sale, the chief executive officer owned 623,466 shares of the company’s stock, valued at approximately $89,978,613.12. This represents a 24.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 769,195 shares of company stock valued at $110,116,823. 0.62% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FLEX has been the subject of a number of recent research reports. Zacks Research cut Flex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. The Goldman Sachs Group boosted 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. Freedom Capital upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Thursday. KeyCorp lifted their target price on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Barclays boosted their price target on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $115.70.

Flex Stock Down 1.5%

Shares of FLEX opened at $119.25 on Friday. Flex Ltd. has a fifty-two week low of $47.83 and a fifty-two week high of $166.86. The company’s fifty day moving average is $143.16 and its two-hundred day moving average is $95.78. The firm has a market cap of $43.69 billion, a PE ratio of 51.18, a price-to-earnings-growth ratio of 0.64 and a beta of 1.64. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 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%. Analysts forecast that Flex Ltd. will post 4.15 earnings per share for the current year.

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.