Vontobel Holding Ltd. Sells 5,453 Shares of Flex Ltd. (NASDAQ:FLEX)

Vontobel Holding Ltd. cut its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 9.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,472 shares of the technology company's stock after selling 5,453 shares during the quarter. Vontobel Holding Ltd.'s holdings in Flex were worth $1,703,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Evergreen Capital Management LLC boosted its stake in Flex by 1.0% in the fourth quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock valued at $925,000 after buying an additional 246 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Flex by 2.1% during 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. Arizona State Retirement System boosted its stake in shares of Flex by 0.4% in the 4th quarter. Arizona State Retirement System now owns 115,236 shares of the technology company's stock valued at $4,424,000 after purchasing an additional 403 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of Flex by 1.8% during the 1st quarter. Park Avenue Securities LLC now owns 24,916 shares of the technology company's stock valued at $824,000 after purchasing an additional 432 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in Flex by 11.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,432 shares of the technology company's stock worth $170,000 after purchasing an additional 447 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company's stock.

Insider Buying and Selling at Flex

In other news, CEO Revathi Advaithi sold 37,465 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total value of $1,686,299.65. Following the transaction, the chief executive officer directly owned 1,363,312 shares of the company's stock, valued at $61,362,673.12. The trade was a 2.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael P. Hartung sold 6,887 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $45.01, for a total value of $309,983.87. Following the sale, the insider directly owned 303,718 shares of the company's stock, valued at $13,670,347.18. This represents a 2.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,135,941 shares of company stock valued at $47,582,965. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

FLEX has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of 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 stock an "overweight" rating in a research report on Thursday, May 8th. Bank of America lifted their price target on Flex from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Wall Street Zen downgraded Flex from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Finally, The Goldman Sachs Group cut their target price 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. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $48.29.

Flex Trading Up 1.8%

Shares of FLEX traded up $0.91 during mid-day trading on Friday, reaching $51.65. 2,764,362 shares of the company were exchanged, compared to its average volume of 4,014,404. The business has a 50 day simple moving average of $42.94 and a two-hundred day simple moving average of $39.30. 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 stock has a market capitalization of $19.30 billion, a PE ratio of 24.36, a PEG ratio of 1.92 and a beta of 1.07. Flex Ltd. has a 52 week low of $25.11 and a 52 week high of $52.17.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $6.22 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The company's revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts predict that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

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.