Sanctuary Advisors LLC Sells 7,023 Shares of Flex Ltd. $FLEX

Sanctuary Advisors LLC cut its stake in Flex Ltd. (NASDAQ:FLEX) by 15.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,288 shares of the technology company’s stock after selling 7,023 shares during the period. Sanctuary Advisors LLC’s holdings in Flex were worth $2,572,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. USA Financial Formulas acquired a new stake in shares of Flex in the fourth quarter valued at approximately $28,000. Frazier Financial Advisors LLC bought a new position in Flex in the 4th quarter valued at $28,000. Parkside Financial Bank & Trust boosted its position in Flex by 57.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 457 shares of the technology company’s stock valued at $28,000 after buying an additional 166 shares during the last quarter. Gables Capital Management Inc. acquired a new stake in shares of Flex in the 4th quarter valued at $42,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Flex by 6,318.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 706 shares of the technology company’s stock worth $43,000 after acquiring an additional 695 shares during the last quarter. 94.30% of the stock is currently owned by institutional investors and hedge funds.

Flex Stock Performance

Shares of Flex stock opened at $127.39 on Wednesday. The stock’s fifty day simple moving average is $142.41 and its 200 day simple moving average is $96.90. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $46.67 billion, a PE ratio of 54.67, a PEG ratio of 0.63 and a beta of 1.64. Flex Ltd. has a 12 month low of $47.83 and a 12 month high of $166.86.

Flex (NASDAQ:FLEX) last posted its earnings results on Tuesday, March 31st. The technology company reported $0.93 earnings per share (EPS) for the quarter. The firm had revenue of $7.48 billion during the quarter. Flex had a return on equity of 22.12% and a net margin of 3.15%. On average, research analysts predict that Flex Ltd. will post 4.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FLEX shares. Stifel Nicolaus upped their price target on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Flex in a report on Friday. JPMorgan Chase & Co. raised their target price on shares of Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. The Goldman Sachs Group lifted their price target on shares of Flex from $84.00 to $177.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, KeyCorp increased their price objective on shares of Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.70.

Insider Activity

In other Flex news, COO Kwang Hooi Tan sold 8,981 shares of Flex stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.19, for a total value of $1,303,951.39. Following the transaction, the chief operating officer owned 248,546 shares of the company’s stock, valued at approximately $36,086,393.74. The trade was a 3.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP David Scott Offer sold 6,657 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $145.23, for a total transaction of $966,796.11. Following the completion of the transaction, the executive vice president directly owned 91,122 shares of the company’s stock, valued at approximately $13,233,648.06. The trade was a 6.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 769,195 shares of company stock worth $110,116,823. Corporate insiders own 0.62% of the company’s stock.

Flex Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.