Flex Ltd. $FLEX Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors reduced its Flex stake by 13.3% in the fourth quarter, selling 180,903 shares and leaving it with 1,184,140 shares valued at about $71.5 million.
• Wall Street sentiment on Flex remains constructive: multiple analysts raised price targets or kept buy ratings, and the stock currently carries a Moderate Buy consensus with an average price target of $115.70.
• Flex reported solid latest-quarter results with $0.93 EPS on $7.48 billion in revenue, while recent insider sales were disclosed as largely tied to tax withholding on vested equity awards.

Pacer Advisors Inc. cut its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 13.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,184,140 shares of the technology company's stock after selling 180,903 shares during the period. Pacer Advisors Inc. owned 0.32% of Flex worth $71,546,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. USA Financial Formulas acquired a new stake in shares of Flex in the 4th quarter worth about $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Flex during the fourth quarter worth approximately $28,000. Parkside Financial Bank & Trust boosted its position in shares of Flex by 57.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company's stock worth $28,000 after buying an additional 166 shares during the period. Gables Capital Management Inc. bought a new position in Flex in the 4th quarter worth approximately $42,000. Finally, 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 during the period. Institutional investors and hedge funds own 94.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Zacks Research upgraded Flex from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. The Goldman Sachs Group raised their price target on Flex from $84.00 to $177.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Robert W. Baird set a $165.00 price objective on shares of Flex in a report on Thursday, May 7th. Stifel Nicolaus increased their target price on shares of Flex from $75.00 to $95.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Finally, Wall Street Zen downgraded shares of Flex from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $115.70.

Flex Stock Performance

Shares of NASDAQ FLEX opened at $147.61 on Friday. Flex Ltd. has a 1 year low of $45.31 and a 1 year high of $166.86. The firm has a market cap of $54.08 billion, a P/E ratio of 63.35, a PEG ratio of 0.75 and a beta of 1.64. The stock has a fifty day moving average price of $122.15 and a two-hundred day moving average price of $84.57. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. The company 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%. Research analysts forecast that Flex Ltd. will post 4.15 EPS for the current fiscal year.

Flex News Roundup

Here are the key news stories impacting Flex this week:

• Positive Sentiment: Analyst sentiment remains constructive, with several firms maintaining buy ratings and recent price-target increases supporting the longer-term outlook. Flex stock page
• Positive Sentiment: Flex’s latest quarter showed solid operating performance, with $0.93 EPS and $7.48 billion in revenue, reinforcing confidence in the business. Flex stock page
• Neutral Sentiment: Several insider sales were disclosed, but the company said they were primarily tied to tax withholding on vested equity awards and, in one case, a 10b5-1 plan. SEC filing
• Negative Sentiment: The concentration of insider selling across senior leadership may still create short-term caution among investors, even if the transactions were routine. SEC filing

Insider Transactions at Flex

In related news, CAO Daniel Wendler sold 1,579 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $147.64, for a total value of $233,123.56. Following the sale, the chief accounting officer directly owned 33,417 shares in the company, valued at $4,933,685.88. The trade was a 4.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 10,540 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $148.02, for a total transaction of $1,560,130.80. Following the sale, the chief operating officer directly owned 235,602 shares of the company's stock, valued at approximately $34,873,808.04. This represents a 4.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 433,924 shares of company stock valued at $61,663,653 in the last quarter. 0.57% of the stock is owned by company insiders.

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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