Leuthold Group LLC Sells 493 Shares of Flex Ltd. (NASDAQ:FLEX)

Leuthold Group LLC reduced its stake in Flex Ltd. (NASDAQ:FLEX) by 0.2% during the 1st quarter, Holdings Channel reports. The fund owned 234,081 shares of the technology company’s stock after selling 493 shares during the period. Leuthold Group LLC’s holdings in Flex were worth $6,697,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Richardson Financial Services Inc. acquired a new position in shares of Flex during the 4th quarter worth approximately $34,000. CWM LLC increased its stake in Flex by 92.5% during the 4th quarter. CWM LLC now owns 1,609 shares of the technology company’s stock worth $49,000 after acquiring an additional 773 shares during the period. Fifth Third Bancorp raised its holdings in Flex by 276.6% in the 4th quarter. Fifth Third Bancorp now owns 1,981 shares of the technology company’s stock valued at $60,000 after acquiring an additional 1,455 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Flex during the 4th quarter valued at $75,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Flex during the 4th quarter worth $77,000. Institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling at Flex

In related news, insider Kwang Hooi Tan sold 8,027 shares of Flex stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $29.29, for a total value of $235,110.83. Following the transaction, the insider now directly owns 151,691 shares of the company’s stock, valued at $4,443,029.39. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Paul Lundstrom sold 35,733 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $28.65, for a total transaction of $1,023,750.45. Following the transaction, the chief financial officer now owns 507,752 shares of the company’s stock, valued at approximately $14,547,094.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kwang Hooi Tan sold 8,027 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $29.29, for a total value of $235,110.83. Following the transaction, the insider now directly owns 151,691 shares in the company, valued at $4,443,029.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 804,542 shares of company stock worth $25,147,972. 0.82% of the stock is currently owned by company insiders.

Flex Price Performance

Flex stock traded up $0.49 during mid-day trading on Friday, reaching $30.61. The company had a trading volume of 1,365,822 shares, compared to its average volume of 4,589,503. The business has a fifty day simple moving average of $30.77 and a 200 day simple moving average of $28.40. The company has a market cap of $12.21 billion, a P/E ratio of 13.10, a P/E/G ratio of 2.00 and a beta of 1.12. Flex Ltd. has a fifty-two week low of $21.84 and a fifty-two week high of $34.12. 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 (NASDAQ:FLEX) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Flex had a return on equity of 16.46% and a net margin of 3.58%. The business had revenue of $6.17 billion during the quarter, compared to analysts’ expectations of $6.10 billion. On average, equities research analysts predict that Flex Ltd. will post 2.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FLEX has been the subject of several recent analyst reports. StockNews.com raised shares of Flex from a “hold” rating to a “buy” rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. lifted their price objective on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Barclays upped their target price on Flex from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Craig Hallum lowered Flex from a “buy” rating to a “hold” rating and decreased their price target for the company from $28.00 to $27.00 in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.20.

Flex Company 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.