TD Private Client Wealth LLC Sells 516 Shares of Flex Ltd. (NASDAQ:FLEX)

TD Private Client Wealth LLC reduced its position in shares of Flex Ltd. (NASDAQ:FLEX) by 1.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,319 shares of the technology company’s stock after selling 516 shares during the quarter. TD Private Client Wealth LLC’s holdings in Flex were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FLEX. Natixis Advisors LLC boosted its holdings in Flex by 38.7% during the third quarter. Natixis Advisors LLC now owns 35,442 shares of the technology company’s stock valued at $1,185,000 after acquiring an additional 9,892 shares during the period. Pathstone Holdings LLC grew its holdings in Flex by 5.5% in the 3rd quarter. Pathstone Holdings LLC now owns 60,375 shares of the technology company’s stock valued at $2,018,000 after buying an additional 3,121 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Flex in the 3rd quarter worth approximately $429,000. Advisors Asset Management Inc. lifted its holdings in shares of Flex by 7.6% during the third quarter. Advisors Asset Management Inc. now owns 51,254 shares of the technology company’s stock worth $1,713,000 after buying an additional 3,627 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Flex by 23.6% in the third quarter. First Horizon Advisors Inc. now owns 1,596 shares of the technology company’s stock worth $53,000 after acquiring an additional 305 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Flex

In related news, insider Michael P. Hartung sold 64,807 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $43.89, for a total transaction of $2,844,379.23. Following the sale, the insider now directly owns 233,526 shares in the company, valued at $10,249,456.14. This represents a 21.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lay Koon Tan sold 50,000 shares of Flex stock in a transaction on Monday, February 10th. The shares were sold at an average price of $43.25, for a total value of $2,162,500.00. Following the completion of the transaction, the director now owns 202,850 shares of the company’s stock, valued at approximately $8,773,262.50. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. 0.82% of the stock is owned by insiders.

Analysts Set New Price Targets

FLEX has been the subject of several research analyst reports. StockNews.com upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Barclays upped their price objective on shares of Flex from $43.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Stifel Nicolaus started coverage on Flex in a research note on Tuesday, February 11th. They set a “buy” rating and a $52.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $44.33.

Flex Stock Performance

NASDAQ FLEX opened at $36.40 on Monday. The stock has a market cap of $13.94 billion, a P/E ratio of 14.68, a PEG ratio of 2.43 and a beta of 1.07. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.63. Flex Ltd. has a twelve month low of $25.27 and a twelve month high of $45.10. The company’s 50-day simple moving average is $39.68 and its 200 day simple moving average is $37.41.

Flex (NASDAQ:FLEX) last posted its earnings results on Wednesday, January 29th. The technology company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Flex had a return on equity of 17.93% and a net margin of 3.95%. As a group, research analysts forecast that Flex Ltd. will post 2.33 earnings per share for the current fiscal year.

Flex Profile

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.