Pacer Advisors Inc. Has $84.71 Million Stock Holdings in Flex Ltd. $FLEX

Pacer Advisors Inc. increased its stake in shares of Flex Ltd. (NASDAQ:FLEX) by 9.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,294,132 shares of the technology company’s stock after acquiring an additional 109,992 shares during the quarter. Pacer Advisors Inc. owned about 0.35% of Flex worth $84,714,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Lombard Odier Asset Management Europe Ltd bought a new stake in shares of Flex during the first quarter valued at approximately $4,949,000. Segall Bryant & Hamill LLC acquired a new position in shares of Flex in the 1st quarter valued at $446,000. Western Wealth Management LLC acquired a new stake in shares of Flex during the 1st quarter valued at about $65,000. Intrinsic Edge Capital Management LLC acquired a new position in Flex in the first quarter worth about $5,891,000. Finally, Amundi lifted its stake in Flex by 15.5% during the first quarter. Amundi now owns 1,494,418 shares of the technology company’s stock worth $97,825,000 after purchasing an additional 200,553 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FLEX shares. The Goldman Sachs Group cut their price objective on Flex from $177.00 to $154.00 and set a “buy” rating for the company in a report on Thursday. Weiss Ratings restated a “buy (b-)” rating on shares of Flex in a research report on Friday, July 17th. Robert W. Baird set a $142.00 price objective on shares of Flex in a report on Thursday. Barclays reduced their target price on Flex from $203.00 to $144.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Raymond James Financial set a $170.00 price objective on Flex and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Flex has a consensus rating of “Moderate Buy” and a consensus price target of $114.20.

Flex Stock Performance

Shares of NASDAQ:FLEX opened at $113.75 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95. Flex Ltd. has a 1-year low of $47.83 and a 1-year high of $166.86. The stock has a market capitalization of $41.68 billion, a P/E ratio of 43.92, a P/E/G ratio of 0.59 and a beta of 1.64. The business has a 50-day moving average price of $139.51 and a two-hundred day moving average price of $99.98.

Flex (NASDAQ:FLEX) last issued its quarterly earnings results on Friday, June 26th. The technology company reported $1.00 EPS for the quarter. The company had revenue of $7.93 billion during the quarter. Flex had a net margin of 3.32% and a return on equity of 23.15%. Equities analysts predict that Flex Ltd. will post 4.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Kwang Hooi Tan sold 8,981 shares of Flex stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.19, for a total transaction of $1,303,951.39. Following the transaction, the chief operating officer owned 248,546 shares of the company’s stock, valued at $36,086,393.74. This trade represents a 3.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael P. Hartung sold 7,269 shares of Flex stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $145.22, for a total transaction of $1,055,604.18. Following the transaction, the insider directly owned 245,930 shares in the company, valued at approximately $35,713,954.60. This represents a 2.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 worth $110,116,823 over the last ninety days. Company insiders own 0.62% of the company’s stock.

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.