Electron Capital Partners LLC Buys New Holdings in Flex Ltd. $FLEX

Electron Capital Partners LLC purchased a new stake in shares of Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 948,159 shares of the technology company’s stock, valued at approximately $57,288,000. Flex comprises 2.7% of Electron Capital Partners LLC’s holdings, making the stock its 15th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in shares of Flex during the 4th quarter worth about $260,000. Goldman Sachs Group Inc. raised its holdings in Flex by 19.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock valued at $42,314,000 after buying an additional 211,046 shares during the period. Empowered Funds LLC acquired a new position in Flex during the first quarter valued at approximately $397,000. EverSource Wealth Advisors LLC grew its stake in Flex by 63.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,646 shares of the technology company’s stock worth $132,000 after buying an additional 1,031 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Flex by 92.4% in the second quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock worth $3,099,000 after acquiring an additional 29,821 shares in the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FLEX shares. Wall Street Zen downgraded shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. The Goldman Sachs Group increased their price target on Flex from $84.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Robert W. Baird set a $165.00 price objective on Flex in a research report on Thursday, May 7th. Zacks Research raised Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Barclays increased their target price on Flex from $174.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.70.

Flex Stock Performance

Shares of FLEX stock opened at $143.13 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.36 and a quick ratio of 0.87. The company’s fifty day moving average price is $120.56 and its two-hundred day moving average price is $83.95. The firm has a market capitalization of $52.44 billion, a P/E ratio of 61.43, a P/E/G ratio of 0.77 and a beta of 1.64. Flex Ltd. has a 12 month low of $45.31 and a 12 month high of $166.86.

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

Insider Activity

In other Flex news, COO Kwang Hooi Tan sold 10,540 shares of Flex stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $148.02, for a total transaction of $1,560,130.80. Following the sale, the chief operating officer directly owned 235,602 shares in the company, valued at $34,873,808.04. The trade was a 4.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 18,750 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $147.91, for a total value of $2,773,312.50. Following the completion of the transaction, the executive vice president directly owned 54,721 shares in the company, valued at approximately $8,093,783.11. The trade was a 25.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 433,924 shares of company stock worth $61,663,653 over the last quarter. Corporate insiders own 0.57% of the company’s stock.

Key Flex News

Here are the key news stories impacting Flex this week:

• Neutral Sentiment: CEO Revathi Advaithi sold 39,239 shares, a 6.48% reduction in her holdings, in a transaction valued at about $5.8 million; the filing says the sale was to cover tax withholding obligations. SEC filing
• Neutral Sentiment: CFO Kevin Krumm sold 3,378 shares, and COO Kwang Hooi Tan sold 10,540 shares, both describing the trades as tax-related equity award withholding rather than a change in business outlook. SEC filing
• Neutral Sentiment: EVP David Scott Offer sold shares in two transactions, including one under a Rule 10b5-1 plan, which may reduce concern about timing but still adds to the overall insider-selling narrative. SEC filing
• Neutral Sentiment: Other insider sales came from COO Kwang Hooi Tan, insider Michael P. Hartung, and CAO Daniel Wendler, all similarly framed as equity-compensation-related selling. SEC filing

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.