Flex Ltd (FLEX) Shares Sold by Northern Trust Corp

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Northern Trust Corp decreased its position in Flex Ltd (NASDAQ:FLEX) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,422,003 shares of the technology company’s stock after selling 4,225 shares during the quarter. Northern Trust Corp owned 0.27% of Flex worth $23,221,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Lyrical Asset Management LP raised its position in Flex by 3.1% in the fourth quarter. Lyrical Asset Management LP now owns 13,457,284 shares of the technology company’s stock valued at $242,097,000 after purchasing an additional 407,456 shares during the period. Pzena Investment Management LLC raised its position in Flex by 4.7% in the first quarter. Pzena Investment Management LLC now owns 4,864,991 shares of the technology company’s stock valued at $79,446,000 after purchasing an additional 216,226 shares during the period. Wells Fargo & Company MN raised its position in Flex by 412.0% in the first quarter. Wells Fargo & Company MN now owns 4,506,828 shares of the technology company’s stock valued at $73,596,000 after purchasing an additional 3,626,538 shares during the period. Frontier Capital Management Co. LLC raised its position in Flex by 0.9% in the first quarter. Frontier Capital Management Co. LLC now owns 3,914,678 shares of the technology company’s stock valued at $63,927,000 after purchasing an additional 34,185 shares during the period. Finally, Towle & Co. raised its position in Flex by 1.9% in the fourth quarter. Towle & Co. now owns 2,078,005 shares of the technology company’s stock valued at $37,383,000 after purchasing an additional 38,890 shares during the period. 94.46% of the stock is currently owned by institutional investors.

Flex opened at $14.53 on Friday, Marketbeat Ratings reports. The firm has a market capitalization of $7.66 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 0.75 and a beta of 0.88. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.26 and a quick ratio of 0.74. Flex Ltd has a 52 week low of $12.93 and a 52 week high of $19.71.

Flex (NASDAQ:FLEX) last posted its quarterly earnings results on Thursday, April 26th. The technology company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.27 billion. Flex had a return on equity of 14.32% and a net margin of 1.68%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. sell-side analysts anticipate that Flex Ltd will post 0.97 earnings per share for the current fiscal year.

FLEX has been the topic of a number of research analyst reports. BidaskClub raised Flex from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 1st. ValuEngine lowered Flex from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 23rd. Zacks Investment Research raised Flex from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, March 27th. Raymond James lowered Flex from a “strong-buy” rating to a “market perform” rating and cut their target price for the company from $22.00 to $19.00 in a research report on Friday, April 27th. Finally, Stifel Nicolaus dropped their price target on shares of Flex from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, April 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $19.94.

In other Flex news, CEO Michael M. Mcnamara sold 239,288 shares of the business’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $14.50, for a total value of $3,469,676.00. Following the completion of the transaction, the chief executive officer now owns 3,421,864 shares in the company, valued at $49,617,028. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas Britt sold 41,218 shares of the business’s stock in a transaction on Thursday, June 21st. The stock was sold at an average price of $14.49, for a total transaction of $597,248.82. Following the completion of the transaction, the insider now owns 281,688 shares of the company’s stock, valued at approximately $4,081,659.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 340,563 shares of company stock valued at $4,938,491. Insiders own 0.83% of the company’s stock.

About Flex

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It offers innovation services, such as innovations labs for supporting customer design and product development services from early concept stages; collective innovation platform, an ecosystem of technology solutions; Lab IX, a startup accelerator program; centers of excellence solutions in critical areas; interconnect technology center for printed circuits; and CloudLabs that enables customers to accelerate a spectrum of cloud, converged infrastructure, and datacenter strategies.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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