CIBC Asset Management Inc Sells 1,080 Shares of Flex Ltd. (NASDAQ:FLEX)

CIBC Asset Management Inc decreased its holdings in shares of Flex Ltd. (NASDAQ:FLEXFree Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,212 shares of the technology company’s stock after selling 1,080 shares during the period. CIBC Asset Management Inc’s holdings in Flex were worth $463,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in Flex by 92.5% during the fourth quarter. CWM LLC now owns 1,609 shares of the technology company’s stock valued at $49,000 after buying an additional 773 shares during the period. Fifth Third Bancorp boosted its stake in Flex by 276.6% during the fourth quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after buying an additional 1,455 shares during the period. Bruce G. Allen Investments LLC bought a new stake in Flex during the fourth quarter valued at $75,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Flex during the fourth quarter valued at $77,000. Finally, Optimum Investment Advisors bought a new stake in Flex during the fourth quarter valued at $79,000. Institutional investors own 94.30% of the company’s stock.

Flex Stock Up 2.4 %

FLEX opened at $32.74 on Tuesday. The company has a market cap of $13.15 billion, a P/E ratio of 14.23, a P/E/G ratio of 2.14 and a beta of 1.13. The business’s 50-day moving average price is $29.77 and its 200-day moving average price is $27.85. The company has a current ratio of 1.52, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. Flex Ltd. has a 12 month low of $21.84 and a 12 month high of $34.12.

Flex (NASDAQ:FLEXGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.10 billion. Flex had a return on equity of 16.46% and a net margin of 3.58%. On average, equities analysts expect that Flex Ltd. will post 2.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Flex from a “buy” rating to a “hold” rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. raised their price target on Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Craig Hallum downgraded Flex from a “buy” rating to a “hold” rating and lowered their price target for the company from $28.00 to $27.00 in a research report on Thursday, May 2nd. The Goldman Sachs Group raised their price target on Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Finally, Barclays raised their price target on Flex from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.83.

Get Our Latest Analysis on FLEX

Insider Activity at Flex

In related news, insider Kwang Hooi Tan sold 8,027 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.81, for a total transaction of $231,257.87. Following the transaction, the insider now owns 159,718 shares in the company, valued at approximately $4,601,475.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Daniel Wendler sold 1,670 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $32.53, for a total transaction of $54,325.10. Following the transaction, the chief accounting officer now owns 27,060 shares in the company, valued at approximately $880,261.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kwang Hooi Tan sold 8,027 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $28.81, for a total value of $231,257.87. Following the transaction, the insider now owns 159,718 shares in the company, valued at approximately $4,601,475.58. The disclosure for this sale can be found here. Insiders have sold a total of 440,824 shares of company stock worth $13,419,218 in the last 90 days. Company insiders own 0.56% of the company’s stock.

About Flex

(Free Report)

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.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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