Atria Investments Inc Has $3.56 Million Stake in Flex Ltd. $FLEX

Atria Investments Inc decreased its holdings in shares of Flex Ltd. (NASDAQ:FLEX) by 21.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 58,954 shares of the technology company’s stock after selling 15,988 shares during the period. Atria Investments Inc’s holdings in Flex were worth $3,562,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FLEX. USA Financial Formulas bought a new position in Flex during the 4th quarter worth approximately $28,000. CENTRAL TRUST Co lifted its stake in Flex by 238.3% in the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock valued at $29,000 after buying an additional 355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Flex in the third quarter valued at approximately $52,000. Root Financial Partners LLC bought a new position in Flex in the third quarter valued at approximately $57,000. Finally, CI Investments Inc. lifted its position in shares of Flex by 60.4% in the third quarter. CI Investments Inc. now owns 1,022 shares of the technology company’s stock worth $59,000 after purchasing an additional 385 shares in the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Activity at Flex

In other news, CEO Revathi Advaithi sold 114,090 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $142.37, for a total transaction of $16,242,993.30. Following the transaction, the chief executive officer directly owned 689,022 shares of the company’s stock, valued at approximately $98,096,062.14. This trade represents a 14.21% 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 this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Charles K. Stevens III sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the transaction, the director directly owned 45,426 shares in the company, valued at $6,275,147.64. This represents a 24.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 226,512 shares of company stock valued at $30,720,858. 0.57% of the stock is currently owned by company insiders.

Flex Price Performance

NASDAQ:FLEX opened at $137.86 on Monday. Flex Ltd. has a one year low of $40.15 and a one year high of $147.34. The company has a market cap of $50.69 billion, a P/E ratio of 59.17, a P/E/G ratio of 0.73 and a beta of 1.46. The firm’s fifty day moving average price is $83.80 and its two-hundred day moving average price is $70.36. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87.

Flex (NASDAQ:FLEX) last released its quarterly earnings data on Tuesday, March 31st. The technology company reported $0.93 EPS for the quarter. Flex had a net margin of 3.15% and a return on equity of 22.12%. The firm had revenue of $7.48 billion for the quarter. Equities analysts expect that Flex Ltd. will post 4.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Raymond James Financial set a $80.00 price objective on shares of Flex and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Zacks Research raised shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, KeyCorp boosted their price objective on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.80.

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.