PGGM Investments Sells 36,741 Shares of Flex Ltd. (NASDAQ:FLEX)

PGGM Investments trimmed its holdings in Flex Ltd. (NASDAQ:FLEX) by 13.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 242,935 shares of the technology company’s stock after selling 36,741 shares during the quarter. PGGM Investments owned 0.06% of Flex worth $7,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of FLEX. Richardson Financial Services Inc. bought a new stake in shares of Flex in the fourth quarter valued at approximately $34,000. CWM LLC boosted its position in shares of Flex by 92.5% in the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after acquiring an additional 773 shares during the period. Edmond DE Rothschild Holding S.A. lifted its position in Flex by 52.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 4,502 shares of the technology company’s stock worth $137,000 after purchasing an additional 1,540 shares during the period. First Horizon Advisors Inc. lifted its position in Flex by 319.7% in the fourth quarter. First Horizon Advisors Inc. now owns 4,613 shares of the technology company’s stock worth $141,000 after purchasing an additional 3,514 shares during the period. Finally, Headlands Technologies LLC bought a new position in Flex in the first quarter worth $149,000. 94.30% of the stock is owned by institutional investors.

Flex Price Performance

Flex stock traded up $1.23 during mid-day trading on Thursday, hitting $31.69. 959,154 shares of the company were exchanged, compared to its average volume of 4,395,172. The company has a quick ratio of 0.79, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $30.45 and a 200 day moving average of $29.25. Flex Ltd. has a 1-year low of $21.84 and a 1-year high of $34.12. The company has a market capitalization of $12.64 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 2.03 and a beta of 1.12.

Analyst Ratings Changes

FLEX has been the subject of several research reports. JPMorgan Chase & Co. raised their target price on Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Barclays raised their target price on Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Stifel Nicolaus raised their target price on Flex from $32.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. StockNews.com raised Flex from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, Craig Hallum upgraded Flex from a “hold” rating to a “buy” rating and increased their price objective for the stock from $27.00 to $39.00 in a research note on Thursday, July 25th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Flex presently has an average rating of “Buy” and a consensus target price of $38.40.

Insider Activity

In other news, Director Michael D. Capellas sold 78,872 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $33.64, for a total value of $2,653,254.08. Following the completion of the sale, the director now directly owns 219,037 shares in the company, valued at $7,368,404.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Michael D. Capellas sold 78,872 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $33.64, for a total value of $2,653,254.08. Following the completion of the sale, the director now directly owns 219,037 shares in the company, valued at $7,368,404.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Paul Lundstrom sold 200,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $32.46, for a total value of $6,492,000.00. Following the completion of the sale, the chief financial officer now owns 294,027 shares of the company’s stock, valued at $9,544,116.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 559,062 shares of company stock worth $18,134,960. 0.82% of the stock is owned by corporate insiders.

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.