Thrivent Financial for Lutherans Decreases Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

Thrivent Financial for Lutherans reduced its stake in shares of Flex Ltd. (NASDAQ:FLEX – Get Rating) by 55.7% in the fourth quarter, HoldingsChannel reports. The firm owned 72,438 shares of the technology company’s stock after selling 91,162 shares during the period. Thrivent Financial for Lutherans’ holdings in Flex were worth $1,554,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FLEX. JPMorgan Chase & Co. lifted its stake in shares of Flex by 10.1% during the 1st quarter. JPMorgan Chase & Co. now owns 363,665 shares of the technology company’s stock worth $6,745,000 after purchasing an additional 33,349 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Flex by 8.2% in the first quarter. Bank of New York Mellon Corp now owns 590,073 shares of the technology company’s stock valued at $10,946,000 after buying an additional 44,642 shares during the last quarter. American Century Companies Inc. raised its stake in Flex by 14.1% in the first quarter. American Century Companies Inc. now owns 130,278 shares of the technology company’s stock valued at $2,417,000 after buying an additional 16,073 shares during the last quarter. HighTower Advisors LLC raised its stake in Flex by 1.0% in the first quarter. HighTower Advisors LLC now owns 86,350 shares of the technology company’s stock valued at $1,600,000 after buying an additional 853 shares during the last quarter. Finally, Natixis Advisors L.P. purchased a new stake in Flex in the first quarter valued at about $201,000. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com assumed coverage on Flex in a research note on Thursday. They issued a “hold” rating for the company. Citigroup increased their price target on Flex from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, January 27th.

Insider Activity

In other news, CAO Daniel Wendler sold 1,512 shares of the stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $21.95, for a total value of $33,188.40. Following the transaction, the chief accounting officer now directly owns 18,266 shares of the company’s stock, valued at $400,938.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Rebecca Sidelinger sold 11,221 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $23.29, for a total transaction of $261,337.09. Following the sale, the insider now directly owns 114,164 shares of the company’s stock, valued at $2,658,879.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Daniel Wendler sold 1,512 shares of the firm’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $21.95, for a total value of $33,188.40. Following the sale, the chief accounting officer now directly owns 18,266 shares in the company, valued at $400,938.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,216 shares of company stock valued at $579,973. Company insiders own 0.54% of the company’s stock.

Flex Stock Up 0.5 %

Shares of FLEX stock opened at $24.30 on Friday. The stock’s 50-day simple moving average is $21.52 and its 200-day simple moving average is $22.01. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.68 and a current ratio of 1.36. The firm has a market capitalization of $10.96 billion, a PE ratio of 14.21, a P/E/G ratio of 0.87 and a beta of 1.46. Flex Ltd. has a fifty-two week low of $13.63 and a fifty-two week high of $25.12.

About Flex

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Flex Ltd. operates as a manufacturing services company. It delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets. The firm operates through the following segments: Flex Agility Solutions (FAS) and Flex Reliability Solutions (FRS). The Flex Agility Solutions segment comprised of Communications, Enterprise and Cloud (CEC) includes data infrastructure, edge infrastructure and communications infrastructure, Lifestyle includes appliances, consumer packaging, floorcare, micro mobility and audio and, Consumer Devices include mobile and high velocity consumer devices.