Flex Ltd. $FLEX Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in Flex Ltd. (NASDAQ:FLEX) by 9.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 173,336 shares of the technology company’s stock after selling 17,183 shares during the period. Mutual of America Capital Management LLC’s holdings in Flex were worth $10,048,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. grew its holdings in shares of Flex by 106.4% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 2,359 shares of the technology company’s stock worth $137,000 after purchasing an additional 1,216 shares during the period. Sagespring Wealth Partners LLC acquired a new position in shares of Flex in the 3rd quarter worth approximately $242,000. BAM Wealth Management LLC acquired a new stake in Flex in the 3rd quarter valued at approximately $351,000. Modera Wealth Management LLC lifted its stake in Flex by 3.4% during the third quarter. Modera Wealth Management LLC now owns 7,011 shares of the technology company’s stock worth $406,000 after purchasing an additional 231 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Flex in the third quarter valued at $485,000. Institutional investors and hedge funds own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In other news, Director Michael E. Hurlston sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $58.00, for a total transaction of $580,000.00. Following the transaction, the director directly owned 58,561 shares in the company, valued at approximately $3,396,538. This trade represents a 14.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William D. Watkins sold 20,000 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $54.52, for a total transaction of $1,090,400.00. Following the sale, the director owned 98,073 shares of the company’s stock, valued at approximately $5,346,939.96. This represents a 16.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 101,406 shares of company stock valued at $6,129,539. 0.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FLEX. Bank of America raised their target price on Flex from $58.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. KeyCorp increased their target price on shares of Flex from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. The Goldman Sachs Group upped their price objective on Flex from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, December 9th. Zacks Research lowered Flex from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Argus set a $85.00 price target on shares of Flex in a research note on Friday, October 31st. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.11.

Flex Stock Down 0.0%

FLEX stock opened at $63.75 on Tuesday. The company’s 50 day moving average is $62.54 and its two-hundred day moving average is $58.54. Flex Ltd. has a twelve month low of $25.11 and a twelve month high of $72.22. The company has a current ratio of 1.33, a quick ratio of 0.83 and a debt-to-equity ratio of 0.60. The stock has a market cap of $23.57 billion, a P/E ratio of 28.21, a PEG ratio of 1.69 and a beta of 1.24.

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.