Flex Ltd. (NASDAQ:FLEX) Shares Sold by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC trimmed its holdings in Flex Ltd. (NASDAQ:FLEX) by 35.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 87,465 shares of the technology company’s stock after selling 48,350 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Flex were worth $3,358,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new stake in shares of Flex during the 3rd quarter worth about $29,000. R Squared Ltd acquired a new stake in shares of Flex during the 4th quarter worth about $35,000. Huntington National Bank boosted its stake in shares of Flex by 87.9% during the 3rd quarter. Huntington National Bank now owns 1,024 shares of the technology company’s stock worth $34,000 after purchasing an additional 479 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Flex during the 3rd quarter worth about $39,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Flex by 23.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after purchasing an additional 305 shares during the last quarter. 94.30% of the stock is owned by institutional investors and hedge funds.

Flex Trading Up 2.5 %

NASDAQ FLEX opened at $44.25 on Friday. Flex Ltd. has a one year low of $24.11 and a one year high of $45.10. The company’s 50 day moving average price is $40.07 and its 200 day moving average price is $35.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.43. The firm has a market capitalization of $17.16 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.43 and a beta of 1.10.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Flex had a net margin of 3.95% and a return on equity of 17.83%. On average, sell-side analysts predict that Flex Ltd. will post 2.33 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. KeyCorp assumed coverage on shares of Flex in a research note on Tuesday, October 22nd. They set an “overweight” rating and a $41.00 price target on the stock. Craig Hallum increased their price objective on shares of Flex from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. StockNews.com lowered shares of Flex from a “buy” rating to a “hold” rating in a report on Saturday, February 1st. Barclays increased their price objective on shares of Flex from $43.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, The Goldman Sachs Group set a $39.00 price objective on shares of Flex in a report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $43.67.

About Flex

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.