Jefferies Financial Group Inc. Trims Holdings in Flex Ltd. $FLEX

Jefferies Financial Group Inc. cut its stake in Flex Ltd. (NASDAQ:FLEX) by 65.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,602 shares of the technology company’s stock after selling 92,046 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Flex were worth $2,937,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. USA Financial Formulas purchased a new position in Flex during the fourth quarter worth about $28,000. CENTRAL TRUST Co grew its position in Flex by 238.3% during the third quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock worth $29,000 after buying an additional 355 shares in the last quarter. Gables Capital Management Inc. purchased a new position in Flex during the fourth quarter worth about $42,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Flex during the third quarter worth about $52,000. Finally, CI Investments Inc. grew its position in Flex by 60.4% during the third quarter. CI Investments Inc. now owns 1,022 shares of the technology company’s stock worth $59,000 after buying an additional 385 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Flex

In other news, EVP David Scott Offer sold 22,212 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $142.40, for a total value of $3,162,988.80. Following the completion of the transaction, the executive vice president directly owned 74,926 shares in the company, valued at approximately $10,669,462.40. This represents a 22.87% decrease in their position. The transaction was disclosed in a document filed 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 22,216 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $142.38, for a total value of $3,163,114.08. Following the completion of the transaction, the insider owned 232,706 shares of the company’s stock, valued at $33,132,680.28. The trade was a 8.71% 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. In the last three months, insiders sold 329,512 shares of company stock worth $44,459,298. Company insiders own 0.57% of the company’s stock.

Flex Price Performance

FLEX opened at $143.24 on Wednesday. The stock has a 50-day moving average price of $93.62 and a 200-day moving average price of $73.73. Flex Ltd. has a 12-month low of $41.43 and a 12-month high of $147.34. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $52.48 billion, a P/E ratio of 61.48, a PEG ratio of 0.70 and a beta of 1.46.

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

Wall Street Analysts Forecast Growth

FLEX has been the subject of several recent analyst reports. Raymond James Financial set a $80.00 target price on Flex and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Barclays boosted their target price on Flex from $72.00 to $174.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Stifel Nicolaus boosted their target price on Flex from $75.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. The Goldman Sachs Group boosted their target price on Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.80.

Flex 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.