D. Scott Neal Inc. Sells 16,949 Shares of Flex Ltd. (NASDAQ:FLEX)

D. Scott Neal Inc. decreased its position in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 6.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 258,551 shares of the technology company's stock after selling 16,949 shares during the period. Flex comprises 4.7% of D. Scott Neal Inc.'s holdings, making the stock its 7th largest holding. D. Scott Neal Inc. owned approximately 0.07% of Flex worth $8,553,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FLEX. Marshall & Sterling Wealth Advisors Inc. bought a new position in Flex in the fourth quarter valued at approximately $35,000. SBI Securities Co. Ltd. bought a new position in Flex in the fourth quarter valued at approximately $38,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Flex by 112.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock valued at $38,000 after acquiring an additional 509 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Flex by 21,475.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,726 shares of the technology company's stock valued at $57,000 after acquiring an additional 1,718 shares during the last quarter. Finally, Huntington National Bank increased its stake in Flex by 46.7% in the fourth quarter. Huntington National Bank now owns 1,502 shares of the technology company's stock valued at $58,000 after acquiring an additional 478 shares during the last quarter. 94.30% of the stock is owned by institutional investors.

Flex Stock Up 1.2%

Flex stock opened at $43.07 on Friday. The firm has a market cap of $16.08 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.43 and a beta of 1.04. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $45.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. The firm has a 50 day moving average price of $36.44 and a two-hundred day moving average price of $38.20.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. The company had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.22 billion. Flex had a net margin of 3.95% and a return on equity of 17.93%. The company's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. Equities analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FLEX. JPMorgan Chase & Co. decreased their price objective on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. KeyCorp reaffirmed an "overweight" rating on shares of Flex in a research note on Tuesday. Barclays boosted their target price on shares of Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. The Goldman Sachs Group decreased their target price 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. Finally, Stifel Nicolaus began coverage on shares of Flex in a research note on Tuesday, February 11th. They set a "buy" rating and a $52.00 target price on the stock. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Flex currently has a consensus rating of "Buy" and an average target price of $45.33.

Insider Activity

In other news, CAO Daniel Wendler sold 4,502 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total transaction of $189,038.98. Following the transaction, the chief accounting officer now owns 38,676 shares in the company, valued at approximately $1,624,005.24. This represents a 10.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Scott Offer sold 11,025 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $42.90, for a total value of $472,972.50. Following the sale, the executive vice president now directly owns 106,277 shares of the company's stock, valued at $4,559,283.30. This represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 891,134 shares of company stock worth $36,818,451. Company insiders own 0.82% 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.

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