LPL Financial LLC Has $36.84 Million Holdings in Flex Ltd. (NASDAQ:FLEX)

LPL Financial LLC trimmed its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 10.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,113,778 shares of the technology company's stock after selling 127,809 shares during the period. LPL Financial LLC owned 0.29% of Flex worth $36,844,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. bought a new stake in shares of Flex during the 1st quarter worth approximately $26,000. Olde Wealth Management LLC acquired a new position in Flex during the first quarter valued at approximately $26,000. CX Institutional bought a new stake in Flex during the first quarter worth $29,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Flex during the fourth quarter worth $35,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Flex by 112.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 960 shares of the technology company's stock valued at $38,000 after purchasing an additional 509 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors.

Flex Stock Performance

NASDAQ:FLEX opened at $49.52 on Friday. The stock's 50-day moving average is $47.95 and its 200-day moving average is $40.98. The stock has a market cap of $18.59 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.05. Flex Ltd. has a 1-year low of $25.11 and a 1-year high of $53.97. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59.

Flex (NASDAQ:FLEX - Get Free Report) last posted its earnings results on Thursday, July 24th. The technology company reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.09. The firm had revenue of $6.58 billion for the quarter, compared to analyst estimates of $6.27 billion. Flex had a net margin of 3.42% and a return on equity of 20.25%. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. Equities research analysts anticipate that Flex Ltd. will post 2.33 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Kwang Hooi Tan sold 12,500 shares of Flex stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $50.25, for a total value of $628,125.00. Following the transaction, the chief operating officer directly owned 263,636 shares of the company's stock, valued at $13,247,709. The trade was a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael P. Hartung sold 6,887 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $45.01, for a total value of $309,983.87. Following the completion of the sale, the insider owned 303,718 shares in the company, valued at $13,670,347.18. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,061,348 shares of company stock valued at $45,038,292 over the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Flex from $44.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. KGI Securities downgraded Flex from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Barclays increased their target price on shares of Flex from $50.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. KeyCorp lifted their price target on shares of Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen upgraded shares of Flex from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $53.71.

Flex 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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