Strategic Wealth Partners Ltd. Cuts Holdings in Flex Ltd. (NASDAQ:FLEX)

Strategic Wealth Partners Ltd. decreased its position in shares of Flex Ltd. (NASDAQ:FLEXGet Rating) by 9.3% in the first quarter, HoldingsChannel reports. The fund owned 32,593 shares of the technology company’s stock after selling 3,354 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Flex were worth $605,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in shares of Flex by 21.1% in the 4th quarter. Teacher Retirement System of Texas now owns 95,379 shares of the technology company’s stock worth $1,748,000 after purchasing an additional 16,602 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in Flex in the fourth quarter worth about $334,000. Covestor Ltd acquired a new position in shares of Flex during the fourth quarter valued at about $41,000. Core Alternative Capital purchased a new position in shares of Flex in the 4th quarter valued at approximately $87,000. Finally, Allianz Asset Management GmbH boosted its stake in Flex by 10.1% in the 4th quarter. Allianz Asset Management GmbH now owns 5,098,522 shares of the technology company’s stock worth $93,456,000 after purchasing an additional 468,605 shares in the last quarter. 95.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Flex

In other Flex news, EVP David Scott Offer sold 120,000 shares of Flex stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $19.19, for a total transaction of $2,302,800.00. Following the completion of the transaction, the executive vice president now owns 262,164 shares in the company, valued at approximately $5,030,927.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.54% of the company’s stock.

Flex Stock Performance

NASDAQ FLEX opened at $18.37 on Thursday. The stock has a 50-day simple moving average of $17.04 and a two-hundred day simple moving average of $16.62. The firm has a market capitalization of $8.38 billion, a P/E ratio of 9.52, a PEG ratio of 0.83 and a beta of 1.49. Flex Ltd. has a fifty-two week low of $13.63 and a fifty-two week high of $19.63. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.68 and a current ratio of 1.31.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a report on Saturday, August 6th. The Goldman Sachs Group lowered their price target on Flex from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, June 1st. Credit Suisse Group began coverage on Flex in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $24.00 price objective for the company. Finally, Argus upgraded Flex from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, May 18th.

Flex Company Profile

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Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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