TD Private Client Wealth LLC Sells 7,193 Shares of Flex Ltd. (NASDAQ:FLEX)

TD Private Client Wealth LLC cut its holdings in Flex Ltd. (NASDAQ:FLEX - Free Report) by 25.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,126 shares of the technology company's stock after selling 7,193 shares during the period. TD Private Client Wealth LLC's holdings in Flex were worth $699,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in FLEX. Brighton Jones LLC bought a new stake in Flex in the fourth quarter worth $260,000. Jones Financial Companies Lllp increased its position in shares of Flex by 133.4% in the fourth quarter. Jones Financial Companies Lllp now owns 2,322 shares of the technology company's stock valued at $89,000 after acquiring an additional 1,327 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Flex in the fourth quarter valued at about $38,000. Steward Partners Investment Advisory LLC increased its position in shares of Flex by 149.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,307 shares of the technology company's stock valued at $165,000 after acquiring an additional 2,582 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in shares of Flex in the fourth quarter valued at about $5,552,000. 94.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have 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 report on Thursday, April 17th. KeyCorp boosted their price objective on shares of Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group reduced their price target on shares of Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Bank of America boosted their price target on shares of Flex from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, Wall Street Zen cut shares of Flex from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $48.29.

Insider Activity

In other news, COO Kwang Hooi Tan sold 37,533 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $42.87, for a total value of $1,609,039.71. Following the transaction, the chief operating officer owned 269,151 shares in the company, valued at approximately $11,538,503.37. This represents a 12.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Revathi Advaithi sold 181,028 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $42.91, for a total transaction of $7,767,911.48. Following the completion of the transaction, the chief executive officer owned 1,463,695 shares in the company, valued at approximately $62,807,152.45. This represents a 11.01% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,135,941 shares of company stock worth $47,582,965. Corporate insiders own 0.57% of the company's stock.

Flex Trading Up 0.8%

NASDAQ:FLEX opened at $51.68 on Thursday. Flex Ltd. has a one year low of $25.11 and a one year high of $52.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 0.79. The company's 50-day simple moving average is $43.94 and its 200 day simple moving average is $39.58. The firm has a market capitalization of $19.31 billion, a P/E ratio of 24.38, a PEG ratio of 1.90 and a beta of 1.07.

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, topping the consensus estimate of $0.69 by $0.04. Flex had a net margin of 3.25% and a return on equity of 19.01%. The business had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.22 billion. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Flex's quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts forecast that Flex Ltd. will post 2.33 EPS for the current fiscal year.

About Flex

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.