TD Private Client Wealth LLC Sells 7,623 Shares of Flex Ltd. $FLEX

TD Private Client Wealth LLC lowered its position in shares of Flex Ltd. (NASDAQ:FLEX) by 43.9% in the fourth quarter, HoldingsChannel reports. The fund owned 9,750 shares of the technology company’s stock after selling 7,623 shares during the period. TD Private Client Wealth LLC’s holdings in Flex were worth $589,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FLEX. USA Financial Formulas bought a new stake in shares of Flex during the fourth quarter worth $28,000. CENTRAL TRUST Co lifted its holdings 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Flex in the third quarter valued at approximately $52,000. Root Financial Partners LLC acquired a new stake in Flex during the 3rd quarter worth $57,000. Finally, CI Investments Inc. grew its holdings in Flex by 60.4% during the 3rd quarter. CI Investments Inc. now owns 1,022 shares of the technology company’s stock worth $59,000 after acquiring an additional 385 shares during the period. Institutional investors own 94.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FLEX shares. KeyCorp lifted their target price on shares of Flex from $75.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. The Goldman Sachs Group increased their target price on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased their target price on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Raymond James Financial set a $80.00 target price on Flex and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Finally, Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. One equities 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $112.80.

Flex Price Performance

Shares of FLEX stock opened at $131.07 on Friday. Flex Ltd. has a 12-month low of $40.15 and a 12-month high of $147.34. The firm has a market capitalization of $48.19 billion, a price-to-earnings ratio of 56.25, a price-to-earnings-growth ratio of 0.69 and a beta of 1.46. The company has a quick ratio of 0.87, a current ratio of 1.36 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average of $89.26 and a 200-day moving average of $72.20.

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

Insider Buying and Selling

In other news, CEO Revathi Advaithi sold 114,090 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $142.37, for a total value of $16,242,993.30. Following the completion of the transaction, the chief executive officer owned 689,022 shares of the company’s stock, valued at $98,096,062.14. The trade was a 14.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the completion of the transaction, the director directly owned 45,426 shares of the company’s stock, valued at $6,275,147.64. This trade represents a 24.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 226,512 shares of company stock worth $30,720,858 over the last ninety days. Insiders own 0.57% of the company’s stock.

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.