Mark Sheptoff Financial Planning LLC Sells 2,500 Shares of Flex Ltd. (NASDAQ:FLEX)

Mark Sheptoff Financial Planning LLC cut its stake in Flex Ltd. (NASDAQ:FLEX) by 14.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,400 shares of the technology company’s stock after selling 2,500 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in Flex were worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Troluce Capital Advisors LLC boosted its holdings in Flex by 101.2% during the third quarter. Troluce Capital Advisors LLC now owns 550,692 shares of the technology company’s stock worth $14,858,000 after buying an additional 48,097,992 shares during the last quarter. Norges Bank bought a new position in shares of Flex during the fourth quarter worth $165,000,000. Schonfeld Strategic Advisors LLC grew its holdings in shares of Flex by 211.2% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,409,636 shares of the technology company’s stock valued at $38,032,000 after buying an additional 956,676 shares during the period. California Public Employees Retirement System raised its stake in Flex by 63.9% during the 4th quarter. California Public Employees Retirement System now owns 2,423,404 shares of the technology company’s stock worth $73,817,000 after buying an additional 944,928 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in Flex by 57.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,815,591 shares of the technology company’s stock worth $48,985,000 after buying an additional 665,076 shares during the period. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Up 2.8 %

FLEX stock traded up $0.89 during mid-day trading on Thursday, reaching $32.26. The company had a trading volume of 6,962,529 shares, compared to its average volume of 4,870,508. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.99 and a beta of 1.18. Flex Ltd. has a 52 week low of $21.84 and a 52 week high of $32.50. The stock has a 50 day simple moving average of $28.51 and a two-hundred day simple moving average of $27.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.52 and a quick ratio of 0.86.

Flex (NASDAQ:FLEX) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Flex had a net margin of 3.58% and a return on equity of 16.46%. The business had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.10 billion. As a group, equities analysts predict that Flex Ltd. will post 2.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Barclays increased their price target on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. The Goldman Sachs Group increased their price objective on shares of Flex from $29.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Craig Hallum cut shares of Flex from a “buy” rating to a “hold” rating and cut their price objective for the company from $28.00 to $27.00 in a research report on Thursday, May 2nd. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on Flex from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Flex presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.83.

Insider Buying and Selling

In other Flex news, insider Kwang Hooi Tan sold 14,599 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $28.65, for a total value of $418,261.35. Following the sale, the insider now owns 163,656 shares in the company, valued at $4,688,744.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Kwang Hooi Tan sold 14,599 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.65, for a total transaction of $418,261.35. Following the completion of the sale, the insider now owns 163,656 shares in the company, valued at approximately $4,688,744.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael P. Hartung sold 43,381 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $30.51, for a total transaction of $1,323,554.31. Following the completion of the transaction, the insider now owns 154,810 shares in the company, valued at approximately $4,723,253.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 320,451 shares of company stock worth $9,259,452. Company insiders own 0.56% of the company’s stock.

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.