Venturi Wealth Management LLC Has $428,000 Holdings in Flex Ltd. $FLEX

Venturi Wealth Management LLC lessened its holdings in Flex Ltd. (NASDAQ:FLEX) by 44.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,540 shares of the technology company’s stock after selling 5,233 shares during the quarter. Venturi Wealth Management LLC’s holdings in Flex were worth $428,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. TigerOak Management L.L.C. bought a new stake in shares of Flex during the 1st quarter valued at $210,000. Foster & Motley Inc. bought a new position in shares of Flex in the 1st quarter worth $441,000. Louisiana State Employees Retirement System acquired a new stake in shares of Flex during the first quarter worth $6,978,000. Fifth Third Wealth Advisors LLC increased its holdings in Flex by 34.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 11,397 shares of the technology company’s stock valued at $746,000 after purchasing an additional 2,940 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in Flex in the first quarter valued at about $842,000. 94.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Flex

In other Flex news, CAO Daniel Wendler sold 1,311 shares of Flex stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.20, for a total value of $190,357.20. Following the sale, the chief accounting officer owned 37,932 shares of the company’s stock, valued at $5,507,726.40. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kwang Hooi Tan sold 8,981 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $145.19, for a total value of $1,303,951.39. Following the completion of the sale, the chief operating officer owned 248,546 shares in the company, valued at approximately $36,086,393.74. This trade represents a 3.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 769,195 shares of company stock valued at $110,116,823 over the last quarter. 0.62% of the stock is currently owned by corporate insiders.

Flex Price Performance

Shares of FLEX opened at $159.56 on Tuesday. The stock has a 50 day simple moving average of $132.78 and a 200 day simple moving average of $89.09. Flex Ltd. has a 52-week low of $47.83 and a 52-week high of $166.86. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36. The firm has a market capitalization of $58.46 billion, a PE ratio of 68.48, a P/E/G ratio of 0.77 and a beta of 1.63.

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

Analyst Upgrades and Downgrades

FLEX has been the subject of several analyst reports. Barclays boosted their target price on Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Stifel Nicolaus lifted their price objective on shares of Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. The Goldman Sachs Group boosted their price objective on shares of Flex from $84.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Wall Street Zen lowered shares of Flex from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Finally, KeyCorp boosted their price target on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.70.

Flex Company 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.