Flex Ltd. (NASDAQ:FLEX) Shares Sold by Atlas Capital Advisors LLC

Atlas Capital Advisors LLC lowered its position in shares of Flex Ltd. (NASDAQ:FLEX) by 5.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,956 shares of the technology company’s stock after selling 1,865 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Flex were worth $972,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FLEX. Boston Partners lifted its holdings in shares of Flex by 113.8% during the 1st quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock worth $548,519,000 after acquiring an additional 10,201,162 shares during the period. LSV Asset Management raised its position in shares of Flex by 0.7% in the 4th quarter. LSV Asset Management now owns 7,047,273 shares of the technology company’s stock worth $214,660,000 after buying an additional 51,068 shares during the period. Vanguard Group Inc. lifted its stake in shares of Flex by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock valued at $170,833,000 after purchasing an additional 141,580 shares in the last quarter. Norges Bank purchased a new position in Flex in the fourth quarter valued at approximately $165,000,000. Finally, Sound Shore Management Inc. CT raised its stake in shares of Flex by 3.4% in the 4th quarter. Sound Shore Management Inc. CT now owns 3,872,034 shares of the technology company’s stock valued at $117,942,000 after acquiring an additional 128,766 shares during the period. Institutional investors and hedge funds own 94.30% of the company’s stock.

Flex Stock Performance

NASDAQ:FLEX traded up $0.15 during mid-day trading on Friday, hitting $32.49. The stock had a trading volume of 2,390,510 shares, compared to its average volume of 4,236,413. The company has a 50 day simple moving average of $30.53 and a 200-day simple moving average of $29.82. The stock has a market capitalization of $12.96 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 2.03 and a beta of 1.12. The company has a current ratio of 1.40, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $34.12.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. Flex had a return on equity of 16.23% and a net margin of 3.54%. The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $5.89 billion. On average, research analysts expect that Flex Ltd. will post 2.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, EVP David Scott Offer sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $32.95, for a total value of $329,500.00. Following the sale, the executive vice president now directly owns 158,094 shares in the company, valued at approximately $5,209,197.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP David Scott Offer sold 10,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $32.95, for a total value of $329,500.00. Following the completion of the transaction, the executive vice president now owns 158,094 shares in the company, valued at approximately $5,209,197.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kwang Hooi Tan sold 8,028 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $31.78, for a total transaction of $255,129.84. Following the sale, the insider now directly owns 175,468 shares of the company’s stock, valued at $5,576,373.04. The disclosure for this sale can be found here. Insiders have sold a total of 500,190 shares of company stock valued at $16,131,106 over the last three months. Company insiders own 0.82% of the company’s stock.

About Flex

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.