Flex Ltd. $FLEX Shares Sold by Meitav Investment House Ltd.

Meitav Investment House Ltd. decreased its holdings in Flex Ltd. (NASDAQ:FLEX) by 15.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,055 shares of the technology company’s stock after selling 29,020 shares during the quarter. Meitav Investment House Ltd.’s holdings in Flex were worth $10,412,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of FLEX. Resonant Capital Advisors LLC raised its holdings in shares of Flex by 2.1% in the first quarter. Resonant Capital Advisors LLC now owns 7,967 shares of the technology company’s stock valued at $522,000 after buying an additional 163 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Flex by 57.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock worth $28,000 after buying an additional 166 shares during the period. Parallel Advisors LLC grew its holdings in shares of Flex by 5.3% during the third quarter. Parallel Advisors LLC now owns 3,588 shares of the technology company’s stock worth $208,000 after buying an additional 181 shares during the last quarter. Hunter Associates Investment Management LLC increased its position in Flex by 2.1% in the 1st quarter. Hunter Associates Investment Management LLC now owns 9,675 shares of the technology company’s stock valued at $635,000 after acquiring an additional 200 shares during the period. Finally, Fred Alger Management LLC raised its stake in Flex by 0.7% during the 4th quarter. Fred Alger Management LLC now owns 30,881 shares of the technology company’s stock valued at $1,866,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FLEX shares. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. KeyCorp boosted their target price on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on Flex from $75.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Stifel Nicolaus increased their price target on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Barclays boosted their price objective on shares of Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $115.70.

Insider Transactions at Flex

In related news, CEO Revathi Advaithi sold 197,879 shares of Flex stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 623,466 shares of the company’s stock, valued at approximately $89,978,613.12. The trade was a 24.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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. Also, insider Michael P. Hartung sold 22,627 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total value of $3,269,148.96. Following the sale, the insider owned 253,199 shares in the company, valued at approximately $36,582,191.52. The trade was a 8.20% 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 quarter, insiders sold 769,195 shares of company stock valued at $110,116,823. Company insiders own 0.62% of the company’s stock.

Flex Price Performance

FLEX stock traded down $9.50 during trading on Tuesday, reaching $129.15. 1,507,910 shares of the company were exchanged, compared to its average volume of 5,250,053. 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 stock’s 50 day moving average price is $138.87 and its 200 day moving average price is $91.79. Flex Ltd. has a 52-week low of $47.83 and a 52-week high of $166.86. The company has a market cap of $47.32 billion, a P/E ratio of 55.56, a PEG ratio of 0.72 and a beta of 1.64.

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

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.