Osaic Holdings Inc. Sells 14,310 Shares of Flex Ltd. $FLEX

Osaic Holdings Inc. lessened its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 31.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,438 shares of the technology company’s stock after selling 14,310 shares during the quarter. Osaic Holdings Inc.’s holdings in Flex were worth $1,523,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Voya Investment Management LLC raised its stake in shares of Flex by 16.7% in the first quarter. Voya Investment Management LLC now owns 4,813,888 shares of the technology company’s stock worth $159,243,000 after purchasing an additional 690,611 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Flex by 16.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,135,247 shares of the technology company’s stock worth $103,714,000 after acquiring an additional 453,455 shares in the last quarter. Hilltop National Bank bought a new position in shares of Flex during the second quarter valued at about $351,000. Maverick Capital Ltd. boosted its holdings in Flex by 108.9% during the first quarter. Maverick Capital Ltd. now owns 18,683 shares of the technology company’s stock worth $618,000 after purchasing an additional 9,740 shares during the last quarter. Finally, Amundi grew its position in Flex by 8.1% in the 1st quarter. Amundi now owns 643,315 shares of the technology company’s stock worth $21,281,000 after purchasing an additional 48,322 shares in the last quarter. 94.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FLEX. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Jefferies Financial Group reissued a “hold” rating and issued a $23.00 price objective on shares of Flex in a research report on Wednesday, November 12th. Argus set a $85.00 price objective on Flex in a research note on Friday, October 31st. KeyCorp lifted their target price on Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Barclays boosted their price target on shares of Flex from $60.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Flex presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.88.

Insiders Place Their Bets

In other news, Director Michael E. Hurlston sold 10,000 shares of Flex stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $58.00, for a total value of $580,000.00. Following the completion of the transaction, the director directly owned 58,561 shares in the company, valued at approximately $3,396,538. The trade was a 14.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William D. Watkins sold 20,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $54.52, for a total value of $1,090,400.00. Following the sale, the director owned 98,073 shares in the company, valued at approximately $5,346,939.96. The trade was a 16.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 107,500 shares of company stock worth $6,593,750 in the last three months. Insiders own 0.57% of the company’s stock.

Flex Price Performance

Shares of NASDAQ:FLEX opened at $61.67 on Wednesday. The firm has a market capitalization of $22.80 billion, a PE ratio of 27.29, a P/E/G ratio of 1.66 and a beta of 1.26. The company has a quick ratio of 0.83, a current ratio of 1.33 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $62.40 and a two-hundred day moving average price of $56.63. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $72.22.

About Flex

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.