Sanctuary Advisors LLC Sells 7,023 Shares of Flex Ltd. $FLEX

Sanctuary Advisors LLC decreased its stake in Flex Ltd. (NASDAQ:FLEX) by 15.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 39,288 shares of the technology company’s stock after selling 7,023 shares during the quarter. Sanctuary Advisors LLC’s holdings in Flex were worth $2,572,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Flex by 196.1% in the fourth quarter. Vanguard Group Inc. now owns 38,746,330 shares of the technology company’s stock valued at $2,341,053,000 after buying an additional 25,662,586 shares in the last quarter. Norges Bank bought a new stake in Flex during the fourth quarter worth $319,756,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Flex in the fourth quarter valued at $2,497,000. Sequoia Financial Advisors LLC grew its position in shares of Flex by 12.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 173,277 shares of the technology company’s stock valued at $10,469,000 after acquiring an additional 19,270 shares during the period. Finally, Teacher Retirement System of Texas grew its position in shares of Flex by 62.3% in the 4th quarter. Teacher Retirement System of Texas now owns 340,389 shares of the technology company’s stock valued at $20,566,000 after acquiring an additional 130,641 shares during the period. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Stock Performance

Shares of FLEX stock opened at $127.39 on Wednesday. Flex Ltd. has a 52 week low of $47.83 and a 52 week high of $166.86. The company has a market capitalization of $46.67 billion, a price-to-earnings ratio of 54.67, a PEG ratio of 0.63 and a beta of 1.64. The company has a 50-day simple moving average of $142.41 and a 200 day simple moving average of $96.90. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 1.36.

Flex (NASDAQ:FLEX) last released its quarterly earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share for the quarter. The firm 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, sell-side analysts predict that Flex Ltd. will post 4.18 earnings per share for the current year.

Insider Transactions at Flex

In related news, EVP David Scott Offer sold 33,000 shares of Flex stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $153.91, for a total transaction of $5,079,030.00. Following the completion of the sale, the executive vice president directly owned 73,471 shares of the company’s stock, valued at approximately $11,307,921.61. This trade represents a 30.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Revathi Advaithi sold 197,879 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $144.32, for a total value of $28,557,897.28. Following the completion of the sale, the chief executive officer owned 623,466 shares of the company’s stock, valued at $89,978,613.12. This trade represents a 24.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 a total of 769,195 shares of company stock worth $110,116,823 in the last ninety days. 0.62% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FLEX. The Goldman Sachs Group upped 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. Robert W. Baird set a $165.00 price target on Flex in a research report on Thursday, May 7th. Stifel Nicolaus upped their price objective on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flex in a research report on Friday. Finally, Freedom Capital upgraded Flex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.70.

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.