Whalen Wealth Management Inc. Sells 570 Shares of Flex Ltd. $FLEX

Whalen Wealth Management Inc. trimmed its holdings in Flex Ltd. (NASDAQ:FLEX) by 5.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 10,351 shares of the technology company’s stock after selling 570 shares during the quarter. Whalen Wealth Management Inc.’s holdings in Flex were worth $517,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FLEX. Rise Advisors LLC purchased a new position in Flex during the 1st quarter valued at approximately $25,000. Olde Wealth Management LLC purchased a new position in Flex during the 1st quarter valued at approximately $26,000. Cullen Frost Bankers Inc. purchased a new position in Flex during the 1st quarter valued at approximately $26,000. Concord Wealth Partners purchased a new position in Flex during the 2nd quarter valued at approximately $28,000. Finally, CNB Bank purchased a new position in Flex during the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Activity at Flex

In related news, CAO Daniel Wendler sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $56.66, for a total transaction of $566,600.00. Following the completion of the transaction, the chief accounting officer owned 37,619 shares in the company, valued at $2,131,492.54. The trade was a 21.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael P. Hartung sold 45,000 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $57.14, for a total value of $2,571,300.00. Following the transaction, the insider owned 256,198 shares of the company’s stock, valued at approximately $14,639,153.72. The trade was a 14.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 105,020 shares of company stock worth $6,070,442 over the last quarter. 0.57% of the stock is owned by insiders.

Flex Price Performance

Shares of Flex stock opened at $64.26 on Wednesday. The stock has a 50 day moving average price of $57.65 and a 200-day moving average price of $49.05. Flex Ltd. has a one year low of $25.11 and a one year high of $65.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.36. The stock has a market cap of $24.12 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.10 and a beta of 1.15.

Analysts Set New Price Targets

Several equities analysts have weighed in on FLEX shares. KeyCorp raised their price target on Flex from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, October 10th. Stifel Nicolaus raised their price target on Flex from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, July 25th. Barclays lifted their target price on Flex from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. The Goldman Sachs Group set a $66.00 target price on Flex in a report on Monday, September 29th. Finally, Wall Street Zen cut Flex from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 11th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.71.

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.