PGGM Investments Trims Holdings in Flex Ltd. (NASDAQ:FLEX)

PGGM Investments cut its position in Flex Ltd. (NASDAQ:FLEX - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 277,327 shares of the technology company's stock after selling 34,784 shares during the period. PGGM Investments owned about 0.06% of Flex worth $8,447,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its holdings in shares of Flex by 58.0% during the third quarter. Commonwealth Equity Services LLC now owns 33,370 shares of the technology company's stock worth $900,000 after acquiring an additional 12,248 shares during the period. Deltec Asset Management LLC raised its holdings in shares of Flex by 3.0% during the third quarter. Deltec Asset Management LLC now owns 188,500 shares of the technology company's stock worth $5,086,000 after acquiring an additional 5,500 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Flex by 145.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 58,739 shares of the technology company's stock worth $1,585,000 after acquiring an additional 34,810 shares during the period. Stratos Wealth Advisors LLC increased its stake in Flex by 3.1% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 14,952 shares of the technology company's stock valued at $403,000 after buying an additional 452 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Flex by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 463,264 shares of the technology company's stock valued at $12,499,000 after buying an additional 14,205 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FLEX shares. JPMorgan Chase & Co. lifted their price target on shares of Flex from $32.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, April 11th. StockNews.com started coverage on shares of Flex in a research note on Wednesday, March 6th. They issued a "hold" rating on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of Flex from $29.00 to $37.00 and gave the company a "buy" rating in a research note on Monday, March 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.20.

Flex Stock Performance

Shares of FLEX traded up $0.27 during midday trading on Friday, reaching $28.97. The stock had a trading volume of 2,934,628 shares, compared to its average volume of 2,867,557. The firm has a 50 day simple moving average of $28.46 and a 200-day simple moving average of $26.79. Flex Ltd. has a one year low of $19.44 and a one year high of $30.93. The firm has a market cap of $12.20 billion, a PE ratio of 17.24, a P/E/G ratio of 1.81 and a beta of 1.19. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53.

Flex (NASDAQ:FLEX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.10. Flex had a net margin of 2.56% and a return on equity of 16.24%. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $6.73 billion. As a group, sell-side analysts anticipate that Flex Ltd. will post 2.16 EPS for the current year.

Insider Activity

In related news, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the sale, the chief accounting officer now owns 28,730 shares of the company's stock, valued at approximately $830,009.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Kwang Hooi Tan sold 8,027 shares of Flex stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $28.81, for a total transaction of $231,257.87. Following the completion of the sale, the insider now owns 159,718 shares of the company's stock, valued at approximately $4,601,475.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Daniel Wendler sold 1,860 shares of Flex stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $28.89, for a total transaction of $53,735.40. Following the sale, the chief accounting officer now directly owns 28,730 shares of the company's stock, valued at approximately $830,009.70. The disclosure for this sale can be found here. Insiders sold a total of 141,943 shares of company stock valued at $4,055,311 in the last quarter. Company insiders own 0.56% of the company's stock.

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.