Cetera Investment Advisers Has $6.71 Million Holdings in Flex Ltd. $FLEX

Key Points

• Cetera Investment Advisers cut its Flex holdings by 27.8% in the first quarter, selling 39,458 shares and retaining 102,528 shares valued at $6.71 million. Institutional investors collectively own 94.3% of Flex.
• Flex reported quarterly revenue of $7.93 billion and earnings of $1.00 per share, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $114.20.
• Flex insiders sold 769,195 shares worth approximately $110.1 million during the last quarter, including sales by executives to cover tax withholding obligations tied to vested equity awards.

Cetera Investment Advisers trimmed its holdings in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 27.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,528 shares of the technology company's stock after selling 39,458 shares during the period. Cetera Investment Advisers' holdings in Flex were worth $6,711,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its stake in shares of Flex by 57.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company's stock valued at $28,000 after buying an additional 166 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in Flex during the 4th quarter worth about $28,000. Gables Capital Management Inc. acquired a new stake in Flex in the 4th quarter valued at about $42,000. Caitong International Asset Management Co. Ltd increased its position in Flex by 6,318.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company's stock valued at $43,000 after acquiring an additional 695 shares in the last quarter. Finally, CENTRAL TRUST Co raised its stake in shares of Flex by 58.1% in the fourth quarter. CENTRAL TRUST Co now owns 797 shares of the technology company's stock worth $48,000 after acquiring an additional 293 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Stock Up 1.6%

Shares of NASDAQ:FLEX opened at $113.75 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.38 and a quick ratio of 0.87. The stock has a market cap of $41.68 billion, a price-to-earnings ratio of 43.92, a P/E/G ratio of 0.59 and a beta of 1.64. The company has a 50 day moving average of $139.51 and a 200-day moving average of $99.72. Flex Ltd. has a one year low of $47.83 and a one year high of $166.86.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings data on Friday, June 26th. The technology company reported $1.00 earnings per share for the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. The business had revenue of $7.93 billion for the quarter. On average, sell-side analysts forecast that Flex Ltd. will post 4.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FLEX has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of Flex from $177.00 to $154.00 and set a "buy" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on Flex from $75.00 to $84.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. Robert W. Baird set a $142.00 target price on Flex in a research note on Thursday. Stifel Nicolaus boosted their target price on Flex from $75.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Finally, Raymond James Financial set a $170.00 price target on Flex and gave the company an "outperform" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $114.20.

Insider Buying and Selling

In related news, COO Kwang Hooi Tan sold 26,657 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total value of $3,851,403.36. Following the completion of the sale, the chief operating officer owned 257,527 shares in the company, valued at approximately $37,207,500.96. This represents a 9.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $144.48, for a total value of $3,269,148.96. Following the completion of the transaction, the insider directly owned 253,199 shares in the company, valued at $36,582,191.52. The trade was a 8.20% decrease in their position. 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. In the last quarter, insiders sold 769,195 shares of company stock worth $110,116,823. Company insiders own 0.62% of the company's stock.

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.

Want to see what other hedge funds are holding FLEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flex Ltd. (NASDAQ:FLEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.