Flex Ltd. $FLEX Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. decreased its holdings in Flex Ltd. (NASDAQ:FLEX) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 382,348 shares of the technology company’s stock after selling 10,590 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Flex were worth $22,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new position in Flex in the second quarter valued at $291,362,000. State Street Corp boosted its stake in shares of Flex by 38.0% in the 2nd quarter. State Street Corp now owns 12,259,554 shares of the technology company’s stock valued at $611,997,000 after buying an additional 3,377,669 shares during the period. Geode Capital Management LLC grew its position in shares of Flex by 52.1% during the second quarter. Geode Capital Management LLC now owns 7,180,371 shares of the technology company’s stock worth $358,500,000 after buying an additional 2,459,511 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Flex by 5,973.9% in the third quarter. Pacer Advisors Inc. now owns 1,365,043 shares of the technology company’s stock valued at $79,132,000 after acquiring an additional 1,342,569 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Flex by 44.0% in the second quarter. Bank of New York Mellon Corp now owns 2,928,808 shares of the technology company’s stock worth $146,206,000 after acquiring an additional 894,790 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Trading Down 1.6%

Shares of FLEX stock opened at $60.38 on Friday. The company has a market capitalization of $22.33 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $62.03 and its two-hundred day moving average is $57.25. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $72.22.

Insider Buying and Selling

In other Flex news, CAO Daniel Wendler sold 10,000 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $71.97, for a total transaction of $719,700.00. Following the completion of the transaction, the chief accounting officer owned 27,619 shares in the company, valued at approximately $1,987,739.43. This represents a 26.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael P. Hartung sold 15,000 shares of Flex stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $64.26, for a total transaction of $963,900.00. Following the completion of the sale, the insider directly owned 241,198 shares in the company, valued at approximately $15,499,383.48. The trade was a 5.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 107,500 shares of company stock worth $6,593,750 in the last ninety days. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Flex from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Jefferies Financial Group reissued a “hold” rating and issued a $23.00 target price on shares of Flex in a report on Wednesday, November 12th. Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. KeyCorp increased their price objective on Flex from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Zacks Research lowered Flex from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.88.

Flex Profile

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.