Robertson Stephens Wealth Management LLC Has $2.12 Million Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Robertson Stephens Wealth Management LLC cut its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 26.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,966 shares of the technology company's stock after selling 23,499 shares during the quarter. Robertson Stephens Wealth Management LLC's holdings in Flex were worth $2,116,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC increased its position in shares of Flex by 1.0% during the fourth quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock worth $925,000 after acquiring an additional 246 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Flex by 2.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 12,709 shares of the technology company's stock worth $488,000 after acquiring an additional 266 shares in the last quarter. Sage Rhino Capital LLC lifted its stake in shares of Flex by 1.1% in the fourth quarter. Sage Rhino Capital LLC now owns 35,378 shares of the technology company's stock worth $1,358,000 after acquiring an additional 374 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Flex by 0.4% in the fourth quarter. Arizona State Retirement System now owns 115,236 shares of the technology company's stock worth $4,424,000 after acquiring an additional 403 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its stake in shares of Flex by 1.8% in the first quarter. Park Avenue Securities LLC now owns 24,916 shares of the technology company's stock worth $824,000 after acquiring an additional 432 shares in the last quarter. 94.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP David Scott Offer sold 87,093 shares of the 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 sale, the executive vice president now owns 71,001 shares in the company, valued at approximately $2,586,566.43. This represents a 55.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Daniel Wendler sold 1,245 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total transaction of $56,037.45. Following the completion of the transaction, the chief accounting officer now directly owns 47,619 shares in the company, valued at $2,143,331.19. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,135,941 shares of company stock valued at $47,582,965. 0.82% of the stock is currently owned by insiders.

Flex Stock Performance

Shares of NASDAQ:FLEX traded down $0.15 during trading on Friday, hitting $46.03. 6,065,247 shares of the company traded hands, compared to its average volume of 3,887,741. The stock has a market capitalization of $17.18 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.71 and a beta of 1.04. The business's fifty day moving average is $39.44 and its 200-day moving average is $38.52. Flex Ltd. has a one year low of $25.11 and a one year high of $46.90. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 0.50.

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

Wall Street Analysts Forecast Growth

FLEX has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price target on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Barclays boosted their price objective on Flex from $49.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen raised Flex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 28th. Bank of America boosted their price objective on Flex from $48.00 to $50.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, KeyCorp reissued an "overweight" rating on shares of Flex in a report on Tuesday, June 3rd. Seven 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, Flex has a consensus rating of "Buy" and an average price target of $46.00.

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.