Flex Ltd. $FLEX Shares Sold by Occam Crest Management LP

Occam Crest Management LP decreased its position in Flex Ltd. (NASDAQ:FLEX) by 92.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the technology company’s stock after selling 35,000 shares during the quarter. Flex accounts for about 0.1% of Occam Crest Management LP’s holdings, making the stock its 26th biggest holding. Occam Crest Management LP’s holdings in Flex were worth $181,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FLEX. Brighton Jones LLC purchased a new stake in shares of Flex during the 4th quarter worth approximately $260,000. Goldman Sachs Group Inc. lifted its position in shares of Flex by 19.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,279,137 shares of the technology company’s stock worth $42,314,000 after buying an additional 211,046 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Flex during the 1st quarter worth approximately $397,000. EverSource Wealth Advisors LLC lifted its position in shares of Flex by 63.8% during the 2nd 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 last quarter. Finally, First Trust Advisors LP lifted its position in shares of Flex by 92.4% during the 2nd quarter. First Trust Advisors LP now owns 62,078 shares of the technology company’s stock worth $3,099,000 after buying an additional 29,821 shares during the last quarter. Institutional investors and hedge funds own 94.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FLEX. Robert W. Baird set a $165.00 price objective on shares of Flex in a research report on Thursday, May 7th. The Goldman Sachs Group lifted their target price 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 cut shares of Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Zacks Research upgraded shares of Flex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Barclays boosted their target price on shares of Flex from $174.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. One investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $115.70.

Insider Buying and Selling

In other news, EVP David Scott Offer sold 33,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the transaction, the executive vice president directly owned 73,471 shares in the company, valued at $11,307,921.61. This represents a 30.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael P. Hartung sold 22,216 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $142.38, for a total transaction of $3,163,114.08. Following the transaction, the insider owned 232,706 shares in the company, valued at approximately $33,132,680.28. The trade was a 8.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 345,012 shares of company stock worth $48,508,103 in the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Flex Price Performance

Flex stock opened at $149.22 on Tuesday. The firm has a market capitalization of $54.67 billion, a PE ratio of 64.04, a P/E/G ratio of 0.79 and a beta of 1.63. 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’s 50-day simple moving average is $117.49 and its 200 day simple moving average is $82.73. Flex Ltd. has a 52 week low of $43.15 and a 52 week high of $166.86.

Flex (NASDAQ:FLEX) last released its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. The company 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%. On average, equities research analysts predict that Flex Ltd. will post 4.15 EPS for the current fiscal year.

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.