Flex Ltd. (NASDAQ:FLEX) Shares Sold by Concentric Capital Strategies LP

Concentric Capital Strategies LP cut its stake in shares of Flex Ltd. (NASDAQ:FLEX - Free Report) by 50.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 228,875 shares of the technology company's stock after selling 233,169 shares during the period. Concentric Capital Strategies LP owned approximately 0.06% of Flex worth $8,787,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC grew its stake in Flex by 1.0% during the 4th quarter. Evergreen Capital Management LLC now owns 24,098 shares of the technology company's stock worth $925,000 after buying an additional 246 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings 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 buying an additional 266 shares during the period. Sage Rhino Capital LLC boosted its position 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 buying an additional 374 shares during the period. Arizona State Retirement System grew its stake in Flex by 0.4% during the 4th quarter. Arizona State Retirement System now owns 115,236 shares of the technology company's stock valued at $4,424,000 after acquiring an additional 403 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Flex by 11.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,432 shares of the technology company's stock worth $170,000 after buying an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company's stock.

Insider Transactions at Flex

In other news, EVP David Scott Offer sold 87,093 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 71,001 shares in the company, valued at $2,586,566.43. This represents a 55.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael P. Hartung sold 64,807 shares of Flex stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $43.89, for a total value of $2,844,379.23. Following the completion of the transaction, the insider now owns 233,526 shares of the company's stock, valued at approximately $10,249,456.14. This represents a 21.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,900 shares of company stock valued at $8,179,677. 0.82% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on FLEX. JPMorgan Chase & Co. dropped their target price on shares of Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus initiated coverage on shares of Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price target for the company. KeyCorp lowered their price target on Flex from $46.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Barclays lifted their target price on Flex from $43.00 to $49.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group reduced their price objective on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $43.67.

Flex Price Performance

Flex stock opened at $36.77 on Wednesday. Flex Ltd. has a 52-week low of $25.11 and a 52-week high of $45.10. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. The firm's fifty day moving average is $33.43 and its 200 day moving average is $37.40. The company has a market cap of $14.09 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 2.43 and a beta of 0.96.

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.

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