American Trust Sells 1,547 Shares of Flex Ltd. (NASDAQ:FLEX)

American Trust decreased its position in Flex Ltd. (NASDAQ:FLEX) by 16.3% during the first quarter, HoldingsChannel.com reports. The firm owned 7,952 shares of the technology company’s stock after selling 1,547 shares during the quarter. American Trust’s holdings in Flex were worth $228,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Boston Partners lifted its holdings in shares of Flex by 113.8% during the first quarter. Boston Partners now owns 19,168,208 shares of the technology company’s stock valued at $548,519,000 after purchasing an additional 10,201,162 shares in the last quarter. LSV Asset Management grew its stake in shares of Flex by 0.7% in the fourth quarter. LSV Asset Management now owns 7,047,273 shares of the technology company’s stock worth $214,660,000 after acquiring an additional 51,068 shares during the period. Vanguard Group Inc. grew its position in Flex by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 5,971,083 shares of the technology company’s stock worth $170,833,000 after purchasing an additional 141,580 shares during the period. Norges Bank purchased a new stake in Flex during the 4th quarter valued at $165,000,000. Finally, Sound Shore Management Inc. CT lifted its holdings in shares of Flex by 3.4% during the 4th quarter. Sound Shore Management Inc. CT now owns 3,872,034 shares of the technology company’s stock valued at $117,942,000 after buying an additional 128,766 shares during the period. 94.30% of the stock is owned by hedge funds and other institutional investors.

Flex Stock Performance

NASDAQ FLEX traded down $2.08 on Friday, reaching $28.59. 3,908,380 shares of the stock were exchanged, compared to its average volume of 3,388,601. The company has a current ratio of 1.40, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53. Flex Ltd. has a one year low of $21.84 and a one year high of $34.12. The firm has a market capitalization of $11.40 billion, a PE ratio of 12.43, a PEG ratio of 2.03 and a beta of 1.12. The company’s 50-day simple moving average is $31.10 and its two-hundred day simple moving average is $28.90.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.51 EPS for the quarter, beating 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 net margin of 3.54% and a return on equity of 16.23%. Analysts expect that Flex Ltd. will post 2.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FLEX has been the subject of several research analyst reports. Barclays lifted their price objective on Flex from $34.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Friday. Craig Hallum raised shares of Flex from a “hold” rating to a “buy” rating and raised their price objective for the stock from $27.00 to $39.00 in a report on Thursday, July 25th. Stifel Nicolaus upped their target price on shares of Flex from $32.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Flex from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $38.40.

Insider Buying and Selling at Flex

In other Flex news, CEO Revathi Advaithi sold 161,052 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 $4,614,139.80. Following the completion of the transaction, the chief executive officer now directly owns 1,903,404 shares in the company, valued at approximately $54,532,524.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Flex news, CEO Revathi Advaithi sold 161,052 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $28.65, for a total value of $4,614,139.80. Following the sale, the chief executive officer now owns 1,903,404 shares in the company, valued at approximately $54,532,524.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael D. Capellas sold 78,872 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $33.64, for a total transaction of $2,653,254.08. Following the transaction, the director now directly owns 219,037 shares of the company’s stock, valued at approximately $7,368,404.68. The disclosure for this sale can be found here. Insiders have sold a total of 812,570 shares of company stock valued at $25,403,101 over the last ninety days. 0.82% of the stock is currently owned by company insiders.

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.