Dimensional Fund Advisors LP Sells 152,780 Shares of Flex Ltd. $FLEX

Key Points

• Dimensional Fund Advisors trimmed its Flex stake by 2.7% in Q1, selling 152,780 shares and leaving it with 5.58 million shares valued at about $365.4 million.
• Insider selling has been significant, with executives Michael P. Hartung and David Scott Offer recently selling shares; over the last quarter, insiders sold 769,195 shares worth roughly $110.1 million.
• Flex remains financially solid and well-covered by analysts, posting $0.93 EPS on $7.48 billion in revenue last quarter, while Wall Street’s consensus rating is “Moderate Buy” with an average price target of $115.70.

Dimensional Fund Advisors LP reduced its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,584,305 shares of the technology company's stock after selling 152,780 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.52% of Flex worth $365,401,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLEX. USA Financial Formulas purchased a new stake in shares of Flex during the fourth quarter valued at about $28,000. Parkside Financial Bank & Trust raised its stake in shares of Flex by 57.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company's stock worth $28,000 after acquiring an additional 166 shares in the last quarter. Frazier Financial Advisors LLC bought a new position in shares of Flex during the 4th quarter worth approximately $28,000. Gables Capital Management Inc. purchased a new stake in Flex during the fourth quarter valued at approximately $42,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Flex by 6,318.2% in the fourth 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. Hedge funds and other institutional investors own 94.30% of the company's stock.

Insider Activity

In other news, insider Michael P. Hartung sold 22,627 shares of the company's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $144.48, for a total value of $3,269,148.96. Following the transaction, the insider owned 253,199 shares of the company's stock, valued at $36,582,191.52. This represents a 8.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 33,000 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the completion of the transaction, the executive vice president directly owned 73,471 shares in the company, valued at $11,307,921.61. The trade was a 30.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 769,195 shares of company stock valued at $110,116,823. Company insiders own 0.62% of the company's stock.

Flex Price Performance

Shares of NASDAQ FLEX opened at $127.39 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a 50-day simple moving average of $142.41 and a 200-day simple moving average of $96.90. Flex Ltd. has a 52 week low of $47.83 and a 52 week high of $166.86. The stock has a market capitalization of $46.67 billion, a price-to-earnings ratio of 54.67, a price-to-earnings-growth ratio of 0.63 and a beta of 1.64.

Flex (NASDAQ:FLEX - Get Free Report) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The business had revenue of $7.48 billion for the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. On average, equities analysts predict that Flex Ltd. will post 4.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FLEX shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Flex in a research report on Friday. Stifel Nicolaus raised their price objective on Flex from $75.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Zacks Research cut shares of Flex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. boosted their price target on Flex from $75.00 to $84.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Finally, Barclays upped their price objective on shares of Flex from $174.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $115.70.

Flex Company 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.

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