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

Catalyst Capital Advisors LLC cut its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 6.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 112,815 shares of the technology company's stock after selling 7,500 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Flex were worth $3,732,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. CX Institutional purchased a new position in shares of Flex in the 1st quarter worth about $29,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Flex in the 4th quarter worth about $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Flex in the 4th quarter worth about $38,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Flex by 112.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock worth $38,000 after purchasing an additional 509 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Flex by 231.2% in the 1st quarter. GAMMA Investing LLC now owns 1,636 shares of the technology company's stock worth $54,000 after purchasing an additional 1,142 shares during the period. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FLEX shares. KeyCorp raised their price objective on Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday. Barclays increased their target price on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lowered their target price on Flex from $52.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group lowered their target price on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Bank of America increased their target price on Flex from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $48.29.

Flex Stock Up 1.8%

NASDAQ FLEX traded up $0.91 during mid-day trading on Friday, reaching $51.65. 2,764,362 shares of the company's stock traded hands, compared to its average volume of 4,014,404. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $52.17. The company has a fifty day simple moving average of $42.94 and a 200-day simple moving average of $39.30. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 0.50. The company has a market cap of $19.30 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 1.92 and a beta of 1.07.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. Flex had a return on equity of 19.01% and a net margin of 3.25%. The firm had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same quarter last year, the firm earned $0.57 EPS. Flex's quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that Flex Ltd. will post 2.33 EPS for the current year.

Insider Activity

In other news, insider Michael P. Hartung sold 6,887 shares of Flex stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total value of $309,983.87. Following the completion of the transaction, the insider owned 303,718 shares in the company, valued at approximately $13,670,347.18. This trade represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Wendler sold 1,245 shares of Flex stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total value of $56,037.45. Following the completion of the transaction, the chief accounting officer owned 47,619 shares of the company's stock, valued at approximately $2,143,331.19. The trade was a 2.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,135,941 shares of company stock worth $47,582,965 over the last quarter. Corporate insiders own 0.57% of the company's stock.

Flex Company 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.