Flex Ltd. (NASDAQ:FLEX) Position Cut by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC trimmed its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 35.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 87,465 shares of the technology company's stock after selling 48,350 shares during the period. Robertson Stephens Wealth Management LLC's holdings in Flex were worth $3,358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FLEX. Truist Financial Corp grew its stake in Flex by 10.3% in the 2nd quarter. Truist Financial Corp now owns 77,648 shares of the technology company's stock valued at $2,290,000 after acquiring an additional 7,236 shares during the last quarter. Atomi Financial Group Inc. lifted its holdings in Flex by 22.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 9,783 shares of the technology company's stock valued at $327,000 after purchasing an additional 1,799 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in Flex by 153.6% in the 3rd quarter. Gateway Investment Advisers LLC now owns 111,399 shares of the technology company's stock valued at $3,724,000 after purchasing an additional 67,468 shares in the last quarter. Carnegie Investment Counsel lifted its holdings in Flex by 1.8% in the 3rd quarter. Carnegie Investment Counsel now owns 62,311 shares of the technology company's stock valued at $2,083,000 after purchasing an additional 1,120 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in Flex in the 3rd quarter valued at about $39,000. 94.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 64,807 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the completion of the sale, the insider now owns 233,526 shares of the company's stock, valued at approximately $10,249,456.14. This trade represents a 21.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is owned by corporate insiders.

Flex Trading Down 0.0 %

NASDAQ FLEX traded down $0.01 during mid-day trading on Monday, hitting $43.15. The company's stock had a trading volume of 2,202,645 shares, compared to its average volume of 3,711,475. Flex Ltd. has a 52-week low of $25.27 and a 52-week high of $45.10. The stock's fifty day simple moving average is $40.27 and its two-hundred day simple moving average is $35.93. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.41 and a quick ratio of 0.85. The firm has a market capitalization of $16.53 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 2.58 and a beta of 1.10.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.93%. Research analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. KeyCorp assumed coverage on shares of Flex in a report on Tuesday, October 22nd. They issued an "overweight" rating and a $41.00 target price on the stock. StockNews.com lowered shares of Flex from a "buy" rating to a "hold" rating in a report on Saturday, February 1st. Barclays increased their price objective on shares of Flex from $43.00 to $49.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Stifel Nicolaus increased their price objective on shares of Flex from $40.00 to $48.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Finally, Craig Hallum increased their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $43.67.

Flex Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.