CWA Asset Management Group LLC Decreases Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

CWA Asset Management Group LLC lowered its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 36.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,001 shares of the technology company's stock after selling 5,707 shares during the quarter. CWA Asset Management Group LLC's holdings in Flex were worth $331,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Sowell Financial Services LLC purchased a new position in Flex during the first quarter valued at approximately $246,000. Janney Montgomery Scott LLC boosted its holdings in shares of Flex by 1.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 222,815 shares of the technology company's stock worth $7,371,000 after buying an additional 4,151 shares during the period. BayBridge Capital Group LLC boosted its holdings in Flex by 5.6% in the 1st quarter. BayBridge Capital Group LLC now owns 11,165 shares of the technology company's stock valued at $369,000 after purchasing an additional 597 shares during the period. Ritholtz Wealth Management boosted its holdings in Flex by 8.4% in the 1st quarter. Ritholtz Wealth Management now owns 11,768 shares of the technology company's stock valued at $389,000 after purchasing an additional 914 shares during the period. Finally, Elevation Point Wealth Partners LLC boosted its holdings in Flex by 77.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 31,540 shares of the technology company's stock valued at $1,043,000 after purchasing an additional 13,739 shares during the period. Institutional investors and hedge funds own 94.30% of the company's stock.

Flex Stock Performance

Shares of NASDAQ FLEX traded down $0.15 during mid-day trading on Friday, reaching $46.03. 6,065,247 shares of the company's stock were exchanged, compared to its average volume of 3,887,741. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $46.90. The firm has a 50-day moving average price of $39.44 and a two-hundred day moving average price of $38.52. The firm has a market capitalization of $17.18 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 1.71 and a beta of 1.04. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.79.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.04. The company had revenue of $6.40 billion for the quarter, compared to analysts' expectations of $6.22 billion. Flex had a net margin of 3.25% and a return on equity of 19.01%. Flex's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. Analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

FLEX has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Flex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 28th. KeyCorp reaffirmed an "overweight" rating on shares of Flex in a research note on Tuesday, June 3rd. The Goldman Sachs Group reduced their price objective on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. dropped their target price on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Bank of America raised their target price on shares of Flex from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $46.00.

Insider Activity

In other Flex news, EVP David Scott Offer sold 87,093 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $36.43, for a total transaction of $3,172,797.99. Following the completion of the transaction, the executive vice president now owns 71,001 shares of the company's stock, valued at approximately $2,586,566.43. This trade represents a 55.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Revathi Advaithi sold 181,028 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $42.91, for a total value of $7,767,911.48. Following the transaction, the chief executive officer now directly owns 1,463,695 shares of the company's stock, valued at $62,807,152.45. This represents a 11.01% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,135,941 shares of company stock valued at $47,582,965. 0.82% of the stock is currently owned by company insiders.

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.