Flex Ltd. (NASDAQ:FLEX) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. reduced its stake in Flex Ltd. (NASDAQ:FLEX - Free Report) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,982 shares of the technology company's stock after selling 18,086 shares during the quarter. Logan Capital Management Inc.'s holdings in Flex were worth $2,571,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FLEX. Barclays PLC lifted its position in Flex by 42.6% during the third quarter. Barclays PLC now owns 774,856 shares of the technology company's stock worth $25,902,000 after buying an additional 231,572 shares during the period. JPMorgan Chase & Co. lifted its position in Flex by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 6,047,021 shares of the technology company's stock worth $202,152,000 after buying an additional 296,505 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Flex by 4.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 48,895 shares of the technology company's stock worth $1,877,000 after buying an additional 1,945 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of Flex in the 4th quarter worth about $321,000. Finally, Park Avenue Securities LLC raised its holdings in shares of Flex by 12.2% in the 4th quarter. Park Avenue Securities LLC now owns 24,484 shares of the technology company's stock worth $940,000 after purchasing an additional 2,654 shares during the period. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Flex

In other news, insider Michael P. Hartung sold 32,173 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $41.99, for a total value of $1,350,944.27. Following the completion of the sale, the insider now directly owns 270,483 shares in the company, valued at approximately $11,357,581.17. The trade was a 10.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Daniel Wendler sold 4,502 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $41.99, for a total value of $189,038.98. Following the completion of the sale, the chief accounting officer now owns 38,676 shares of the company's stock, valued at $1,624,005.24. This trade represents a 10.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 489,255 shares of company stock worth $19,589,788 in the last 90 days. 0.82% of the stock is owned by corporate insiders.

Flex Stock Up 0.2%

Shares of FLEX stock traded up $0.07 during trading hours on Friday, reaching $42.02. The company had a trading volume of 2,712,274 shares, compared to its average volume of 3,956,319. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 1.41. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $45.10. The company has a market capitalization of $16.10 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.43 and a beta of 0.96. The stock's fifty day simple moving average is $34.29 and its 200 day simple moving average is $37.72.

Flex (NASDAQ:FLEX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.04. Flex had a return on equity of 17.93% and a net margin of 3.95%. The firm had revenue of $6.40 billion during the quarter, compared to analyst estimates of $6.22 billion. During the same quarter last year, the firm earned $0.57 EPS. Flex's quarterly revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts expect that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays raised their price objective on Flex from $49.00 to $50.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. KeyCorp raised their price objective on Flex from $35.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. JPMorgan Chase & Co. cut their price objective on Flex from $52.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus began coverage on Flex in a report on Tuesday, February 11th. They issued a "buy" rating and a $52.00 price objective on the stock. Finally, The Goldman Sachs Group lowered their target price on Flex from $53.00 to $41.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.33.

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.