TD Private Client Wealth LLC Has $699,000 Holdings in Flex Ltd. (NASDAQ:FLEX)

TD Private Client Wealth LLC reduced its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 25.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its holdings in Flex by 11.3% in the first quarter. Envestnet Asset Management Inc. now owns 1,365,636 shares of the technology company's stock valued at $45,175,000 after purchasing an additional 139,104 shares during the last quarter. Simmons Bank bought a new stake in shares of Flex in the first quarter worth $1,567,000. Bank of New York Mellon Corp raised its holdings in Flex by 3.9% in the first quarter. Bank of New York Mellon Corp now owns 2,034,018 shares of the technology company's stock valued at $67,285,000 after acquiring an additional 76,541 shares in the last quarter. Seascape Capital Management grew its holdings in Flex by 3.0% during the 1st quarter. Seascape Capital Management now owns 107,616 shares of the technology company's stock worth $3,560,000 after acquiring an additional 3,153 shares in the last quarter. Finally, Olde Wealth Management LLC acquired a new stake in shares of Flex in the 1st quarter valued at about $26,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. KeyCorp boosted their price target on Flex from $50.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. The Goldman Sachs Group dropped their price target on Flex from $53.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Wall Street Zen cut Flex from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Bank of America lifted their price objective on shares of Flex from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their target price on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Flex has an average rating of "Buy" and an average price target of $49.43.

Flex Price Performance

Shares of FLEX stock traded up $0.25 during mid-day trading on Thursday, hitting $51.93. 4,423,987 shares of the stock traded hands, compared to its average volume of 4,032,396. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.79 and a current ratio of 1.30. The firm has a market cap of $19.41 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 1.90 and a beta of 1.07. The company's 50-day simple moving average is $43.94 and its 200-day simple moving average is $39.58. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $52.61.

Flex (NASDAQ:FLEX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share (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 firm 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 business posted $0.57 earnings per share. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Flex Ltd. will post 2.33 earnings per share for the current year.

Insider Activity at Flex

In related news, EVP David Scott Offer sold 87,093 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $36.43, for a total value of $3,172,797.99. Following the transaction, the executive vice president owned 71,001 shares in the company, valued at approximately $2,586,566.43. This represents a 55.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael P. Hartung sold 35,393 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $42.87, for a total transaction of $1,517,297.91. Following the transaction, the insider owned 293,195 shares in the company, valued at approximately $12,569,269.65. This trade represents a 10.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,135,941 shares of company stock worth $47,582,965 in the last 90 days. 0.57% of the stock is owned by corporate insiders.

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.